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2/01/08
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SALT LAKE CITY (Feb. 1, 2008) – LNR Property Corporation’s Commercial Property Group, the company’s real estate development and investment division, recently appointed David Baird as the new director of development. Due to the company’s expansion, it also opened a new office in Salt Lake City. With this office, LNR Property Corporation intends to grow its local presence and develop multiple high-quality commercial and industrial projects throughout the Intermountain West.
In this position, Baird will supervise the development of phase one at Bangerter Crossing Business Park, a 161-acre commercial site in Salt Lake City. Currently under construction are two state-of-the-art warehouse distribution buildings, totaling 400,000 square feet. With several tenant-lease proposals in negotiations for the first two buildings, Baird will oversee the construction of a third building, which totals 325,000 square feet later this year. He will also begin planning the next three phases of the project. Total build-out of the project will be achieved in the year 2013 and will include approximately 3.5 million square feet of Class A industrial and office space.
Prior to joining LNR Property Corporation, Baird served as the economic development manager of Draper City in Utah. In this position, Baird was responsible for the successful recruitment of the state’s only IKEA, the world’s largest home furnishings retailer. He was also one of the founding partners of the Draper Community Development Corporation, a private 501(c)(3) aimed at creating business and development vitality in the city.
Baird holds a Bachelor of Science and Master of Business Administration from the University of Utah.
“David has more than a decade of development experience in this market,” said Ric Kern, regional president for LNR Property Corporation. “We are excited to have him on our team and are confident that he will continue to lead the company, increase our presence in the Intermountain West and further position LNR Property Corporation as a market-leader.”
About LNR
Headquartered in Newport Beach, Calif., LNR Commercial Property Group is a private company that operates as the real estate development and investment division of LNR Property Corporation, a $3 billion company with corporate headquarters in Miami Beach, Fla. LNR is a market leader in the master planning and development of commercial properties and is invested in large commercial developments and redevelopment transactions that range in size from $10 million to more than $100 million. Supported by 15 offices across the United States, LNR has been responsible for the successful development, redevelopment and repositioning of more than 1,000 properties in 33 states during the last 15 years. Its expertise extends to a range of property types including office, industrial, retail, apartments, hotels, land and military base reuse. Additional information on LNR’s Commercial Property Group can be found at www.lnrcpg.com.
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