Citing visionary, market-oriented approach, NAIOP names Irvine company Developer of the Year.HERNDON, Va.--(BUSINESS WIRE)--Sept. 14, 1995--The National Association of Industrial and Office Properties (NAIOP NAIOP National Association of Industrial and Office Properties NAIOP National Association of Industrial and Office Parks NAIOP Navigational Aid Inoperative for Parts ), has named The Irvine Company The Irvine Company is a privately held real estate development company based in Newport Beach, Orange County, California. Donald Bren is its Chairman. Operations The Irvine Company develops suburban master-planned communities throughout central and southern Orange County. of Orange County, Calif., as its Developer of the Year for 1995, it was announced by Paul Novak, president of the association. The award will be presented to the company at RealMart '95, NAIOP's annual conference, which will be held from Oct. 16-19 at the Mirage Resort in Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. . "As developer of the nation's largest master-planned urban environment, The Irvine Company has demonstrated extraordinary vision, coupled with a unique market-responsive and corporate management approach that has enabled it to survive through difficult times and to be well-positioned for growth into the 21st century," said Novak. "The master plan for the Irvine Ranch, developed in the 1960s, was deceptively simple, yet visionary," Novak continued. "The property was to be designed as an environment in which people could comfortably live, commute easily to work and have an abundance of shopping, recreational, cultural and educational opportunities." The Irvine Company owns 55,000 acres in central Orange County. The Irvine Ranch roots date back to the late 19th century, when James Irvine James Irvine may refer to:
The company was sold in 1977 to a group of investors that included Donald Bren Donald Leroy Bren (born 1932) is a US real estate mogul born in Los Angeles, and currently residing in Newport Beach, CA. He is the son of Hollywood producer Milton Bren and the stepson of actress Claire Trevor. ; in 1983, Bren purchased the majority interest in the company. Since the mid 1980s, the company has undergone a major restructuring, has focused more attention on its investment property portfolio and has been a leader in attracting much-sought-after, high-tech "knowledge" and biotech businesses. Its office and industrial operations survived the recession and currently enjoy premium rentals and high occupancy, despite Orange County's much-publicized bankruptcy. The Irvine Company's Investment Properties Group today regularly accounts for approximately half of the company's annual revenues. The commercial portfolio consists of 94 properties, including office buildings, shopping centers, hotels and industrial and technological- oriented facilities, which total 15 million square feet. Community service and cultural involvement are key components in qualifying a company to be the Developer of the Year, Novak pointed out. Among The Irvine Company's most notable contributions has been its support and involvement with the Irvine campus of the University of California The University of California has a combined student body of more than 191,000 students, over 1,340,000 living alumni, and a combined systemwide and campus endowment of just over $7.3 billion (8th largest in the United States). , to which the company donated the original 1,000 acres for its development. Continued efforts between UCI UCI University of California, Irvine UCI Union Cycliste Internationale (International Cycling Union) UCI Unidad de Cuidados Intensivos UCI United Cinemas International (UK) and The Irvine Company are to build a health sciences research and development center and to support existing academic and industrial partnership programs. The company also established a 17,000-acre Open Space Reserve for the preservation of wilderness lands now managed by The Nature Conservancy Nature Conservancy, nonprofit organization established in 1951 to preserve or aid in the preservation of natural environments. It protects wilderness areas in the United States and Canada and is affiliated with similar groups in Latin America and the Caribbean. . Criteria for Judging "Developer of the Year" Introduced in 1976, the Developer of the Year award is presented annually in recognition of an organization's outstanding achievements. Candidates for this prestigious award are nominated by NAIOP's 58 North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. Chapters. Criteria judged by the Association's distinguished Awards Committee include: -- Quality of products and services -- Financial consistency and stability -- Social consciousness -- The ability to adapt to market conditions -- Reputation in the real estate and general business communities. In the past five years, the Years, The the seven decades of Eleanor Pargiter’s life. [Br. Lit.: Benét, 1109] See : Time award has been presented to: The Miller-Valentine Group, Dayton, Ohio (1994); Charles E. Smith Charles E. Smith can refer to:
NAIOP is the trade association for owners, developers and investors in industrial, office and related commercial real estate properties. Founded in 1967, it has 5,000 members in 58 chapters, and serves as an educational resource and legislative voice for the industry. NAIOP has headquarters in Herndon. CONTACT: Shirley Maloney 703/904-7100, ext. 107 |
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