July 30, 2013
NAIOP, the Commercial Real Estate Development Association, has selected Seattle-based Vulcan Real Estate as the 2013 Developer of the Year, the association’s highest honor.
Through strategic acquisitions and innovative development, Vulcan has delivered 4.8 million square feet in 23 new facilities in Seattle’s burgeoning South Lake Union neighborhood. The company has approximately 800,000 square feet under construction, including 400,000 square feet of commercial space for website retailer Amazon.com and 466 apartment units planned for delivery later this year. The company will also break ground on a 270,000 square feet life sciences research building for the Allen Institute for Brain Science and 600,000 square feet of additional office space for Amazon.com.
“We’re thrilled to be named Developer of the Year and consider it a great honor to be recognized by such an important and well respected organization as NAIOP,” said Ada M. Healy, vice president of real estate at Vulcan. “Our work in South Lake Union has focused on creating a vibrant and sustainable urban neighborhood that contributes to the region’s economic growth and vitality – being recognized nationally by NAIOP provides further validation of our success.”
Having delivered 15 LEED-certified buildings in South Lake Union alone, Vulcan is the largest private owner of new construction LEED certified projects in Seattle, and boasts a reputation that has attracted, in addition to Amazon.com, such nationally recognized businesses as Microsoft, Wunderman, PATH and the Institute for Systems Biology, as well as retailers Bang & Olufsen, Ann Sacks, Whole Foods, Starbucks and others.
Vulcan Real Estate directs all real estate investment activities for Vulcan Inc., a Paul G. Allen company, providing a full-range of development and portfolio management services including site selection, urban planning, build-to-suit construction, leasing and asset repositioning. Vulcan’s diversified portfolio of assets includes office, biotechnology, residential and mixed-use projects.
“Vulcan’s focus on transforming a project’s marketability combined with its long track record of community re-investment and collaborative approach in the undertaking of numerous public-private partnerships make it a standout in the industry,” said Thomas J. Bisacquino, NAIOP president and CEO. “The creativity and sense of corporate citizenship evident in Vulcan’s projects are attributes that are being replicated throughout the industry and across the country, and we are proud to recognize Vulcan with the 2013 Developer of the Year Award.”
About the Award
The 2013 Developer of the Year award will be presented on Tuesday, October 8, at NAIOP’s Development ’13: The Annual Meeting for Commercial Real Estate in San Diego, Calif.
Vulcan was selected from an impressive slate of award nominees and was evaluated by a team of seasoned developers on the following criteria: (1) Outstanding quality of projects and services; (2) Active support of the industry through NAIOP; (3) Financial consistency and stability; (4) Ability to adapt to market conditions; (5) Support of the local community.
Since 1979, the Developer of the Year award has been presented to a development company that best exemplifies leadership and innovation. Past recipients include The JBG Companies; CenterPoint Properties; Alter Group; Highwoods Properties; Liberty Property Trust; Ryan Companies; Bentall Capital; Prologis; Colonial Properties Trust and Lowe Enterprises.