Zelman Development Co. has been an active
participant in the commercial real estate industry for over
35 years. The real estate industry has gone through many changes
and many cycles during this period. Vacancy rates rise and
fall, user requirements change, and demographics shift. However,
our real business never changes. We combine our skills and
business relationships with the requirements of the users,
investors, and lenders involved in our projects to create
value for all concerned.
Achieving the goal of value
creation while satisfying the needs of the communities we
work in is the real test of our success. There is more to
success than simply achieving an economic return. We strive
to create projects that serve the needs of communities we
work in. We constantly strive to bring positive impacts to
these communities. Whether we are creating a “Town Center”
in Encinitas or Burbank, California, or a workplace in San
Francisco or Seattle, people live and work in the places we
design and build. Creating value for consumers and industry
by delivering new products, services, and employers to their
communities is the ultimate reward for our efforts.
The formula for achieving these goals in
the 1960’s, 1990’s or now has not changed. Every
project we undertake requires the successful completion of
myriad contracts, leases, loans and investment decisions.
Every one of these small pieces of a larger project revolves
around one simple thing: Partnering. Every contract or agreement
we complete we view as a partnership. Over the long term,
we cannot be successful if the user is not successful, and
we cannot be successful if the project does not successfully
fill a need for its community. Similarly, the partnerships
we form with our lenders and investors must succeed for us
to succeed.
We acquire land and underutilized property for the purpose
of adding value through development. Our
focus is community shopping centers, industrial and R&D
properties. As we approach our fifth decade in business we
discover that as much as things appear to have changed, they
are really just the same.
Ben Reiling
Chairman & Chief Executive Officer
Zelman Development Co.
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