(1888PressRelease)
July 19, 2006 - PASADENA, CA - Highland Development Company, a subsidiary of The Marcus & Millichap Company (TMMC) and a dynamic retail and retail-driven mixed-use development company, announced that Gregory N. Hoxworth has been named Chief Executive Officer and President. Additionally, Michael J. Singelyn has been appointed Director of Development. Hoxworth and Singelyn will be based out of the company’s new headquarters in Pasadena on 80 S. Lake Avenue, Suite 615, Pasadena, CA 91101. The company also has an office in Northern California in the City of San Mateo, headed up by Paul Caruso, Vice President of Acquisitions.
A 25-year real estate development industry veteran, Hoxworth was hired to establish and implement an effective business strategy that will catapult Highland to the forefront of development in the West. “Our strategy is to utilize our many available resources through our relationship with TMMC, which includes investment capital and residential and office development as well as fast-track the number of completed development projects by acquiring already entitled property. It is our goal to add two million square feet within the next two years to our existing development pipeline,” says CEO Gregory Hoxworth.
According to Hoxworth, Highland’s development strategy includes both ground-up shopping center development and acquisition of existing properties with value-add and/or parcelization opportunities from two acres on up in the western United States. TMMC is a full-service real estate and investment firm encompassing real estate investment brokerage, financial services, single-family and apartment development, and office/industrial development through a group of 10 companies.
With Hoxworth at the helm, the company now has more than one million square feet in various stages of development or redevelopment including several projects in California including one La Quinta as well as two in Hanford, plus a project in Phoenix, Arizona.
Hoxworth was most recently President of Development and Acquisitions for Combined Properties where he initiated and/or closed 12 projects during his tenure. Prior to joining Combined Properties, Hoxworth was Executive Director of Lewis Retail Centers where he oversaw the development of retail projects in Los Angeles and Sacramento, California, and Las Vegas and Reno, Nevada, increasing the company’s portfolio by three million square feet. He also served as Senior Vice President and Principal for Lowe Enterprises where he developed and managed a mixed-use portfolio totaling four million square feet. He graduated from Washington University in St. Louis, MO with a Masters of Business in Finance with honors and a Bachelor of Arts, Magnum Cum Laude in Urban Planning and Economics.
As Director of Development, Singelyn will be responsible for Highland’s development activities in California, Nevada and Arizona. Singelyn was most recently the Director of Leasing for Lewis Retail Centers and has nearly 20 years of experience in all aspects of commercial retail development and leasing. For Lewis Retail Centers, he handled all peripheral land transactions including ground leases, build-to-suits, reverse build-to-suits, building leases and sales for all pad transactions in the Lewis Retail Center portfolio in the Inland Empire, Sacramento and Reno. He graduated from University of Southern California with a Bachelor of Arts degree in Political Science.
“We have assembled an outstanding executive team which includes expertise in legal, market research, capital markets and finance provided by the executive team at TMMC along with Paul Caruso in Northern California. Now we are thrilled to add Michael Singelyn to this highly experienced team. His comprehensive sales and development experience, combined with his long-standing relationships with national and regional retailers, will be a tremendous asset to Highland Development Company,” says Hoxworth.
Highland Development Company is a developer of retail and retail-driven mixed-use projects throughout the Western United States. Led by industry veteran Gregory Hoxworth as CEO and President, Highland’s development strategy includes both ground-up shopping center development and acquisition of existing properties with value-add and/or parcelization opportunities.
As a subsidiary of The Marcus & Millichap Company (TMMC), Highland can expand its project types by partnering with TMMC subsidiaries SummerHill Homes and Urban Housing Group for the development of mixed-use projects incorporating single-family residents and apartment homes. Currently, Highland has more than one million square feet in various stages of development or redevelopment in California and Arizona.
