Salt Lake City– St. John Properties today announced receipt of its latest accolade powered in part by Utah expansion in Valley Grove. NAIOP, the Commercial Real Estate Development Association, has selected St. John Properties as the 2018 Developer of the Year – the association’s highest honor.
“NAIOP is honored to name St. John Properties as our Developer of the Year,” said Thomas J. Bisacquino, NAIOP president and CEO. “The company is a proven frontrunner in the industry, and the company’s notable accomplishments, extensive portfolio and commitment to sustainability is a testament to the company’s passion for advancing the quality of commercial real estate.”
Since 1979, the Developer of the Year award has been presented to a development company that best exemplifies leadership and innovation. Past recipients include Trammell Crow Company, Prologis, Majestic Realty Co., The JBG Companies and CenterPoint Properties, among others. The 2018 Developer of the Year award will be presented on October 17, 2018, at NAIOP’s CRE.Converge conference in Washington, D.C.
St. John Properties is a commercial real estate developer and owner with 19 million square feet of Class “A” commercial office, flex/R&D, retail and warehouse space, as well as more than 2,500 residential units. By the end of 2019, the company portfolio will expand to approximately 20 million square feet. The company’s real estate investments are currently valued at more than $2.9 billion, with 2,100 clients across eight states, including Maryland, Colorado, Louisiana, Nevada, Pennsylvania, Utah, Virginia and Wisconsin.
“Valley Grove and our recent Utah development were key in our receiving this honor,” states Edward St. John, company founder and chairman. “We believe in the power of hiring the right people, working hard and giving back to the community. This national recognition validates our corporate culture of performing to the best of our ability each day and doing what it takes to get the job done right.”
Valley Grove represents a $300 Million investment of St. John Properties in Pleasant Grove City. Over the life of the project, Valley Grove is anticipated to generate over $800 Million in tax revenue to the state, county and city, while hosting more than 7,000 employees. Space in existing Valley Grove buildings is rapidly being filled by businesses recognizing the development’s prized location and value.
About St. John Properties
Established in 1971 by Edward St. John, St. John Properties has evolved from a developer of commercial buildings into a long-term real estate investment company. Now in Utah, St. John Properties is attracted by the State’s economic strength, pro-business climate, quality of life, and projected growth. St. John’s new Valley Grove development in Pleasant Grove marks the company’s commitment to Utah’s quality of life with its 43rd LEED certified commercial office building.