And the winners are ... Aurora, Colo.-based ProLogis Trust finished first in NREI's 2000 survey of industrial owners, with 148.5 million sq. ft. of industrial space as of Dec. 31, 1999. On the industrial developers front, Sacramento, Calif.-based Panattoni Development Co. took top honors, with nearly 19 million sq. ft. of industrial space under construction at the end of 1999.

One of the year's highlights was the heightened competition among industrial owners and developers in major regional hubs such as Chicago, New York, Dallas, Atlanta and Los Angeles.

Industrial owners will continue to battle in these coveted markets in 2000 and beyond as companies seek the efficiencies associated with operating distribution centers out of regional hubs, says John E. Thomas, chief real estate and investment officer for Dallas-based Crow Holdings Industrial Trust. Crow Holdings finished 5th in NREI's ranking of the top industrial owners, with a total of 30 million sq. ft. as of the end of 1999.

"The bigger markets are growing real fast, while the smaller markets are growing at a slower pace," Thomas says. "There's a lot more competition in the big markets." Much like the cities in which they're built, these facilities are growing. Buildings containing 1 million sq. ft. and larger are becoming common, he says.

With the heightened competition to build bigger buildings, along with fairly stagnant rent rates, "yields are being squeezed in the bigger markets," Thomas notes. Consequently, speculative construction is becoming a risky proposition these days, industry professionals say.

E-commerce left its mark on industrial projects in 1999. Both owners and developers face new challenges when financing dot.com businesses, says Greg Gregory, president and CEO for Atlanta-based Industrial Developments International (IDI), whose firm finished in second place on the Top 10 Industrial Developers Survey with 15.5 million sq. ft. under construction in 1999.

"Our challenge is how to underwrite them [the dot.coms], how to determine what the risk is and how to do business with them," Gregory says. (For more information about IDI, please turn to a profile that begins on Page 48.)

Survey rankings were based on totals listed in company square feet as of Dec. 31, 1999. More specifically, owners were asked to record the amount of square feet in their portfolios as of Dec. 31, 1999. Developers, meanwhile, were asked to record their volume of activity for the calendar year. Questions regarding the survey should be directed to Editor Matt Valley at 770-618-0215.

Top 25 Industrial Owners 1. ProLogis Trust 14100 E. 35th Pl.

Aurora, CO 80011

Tel: 303 375-9292; FAX: 303 375-8581

Website: www.prologis.com

Industrial sq. ft. for 1999: 148,500,000

Officers: K. Dane Brooksher, Chrmn./CEO; Irving F. (Bud) Lyons III, Pres./CIO; Walter C. Rakowich, CFO; Jeffrey H. Schwartz, Vice Chrmn./Mng. Dir.; John W. Seiple, Mng. Dir./COO North America; Robert J. Watson, Mng. Dir./COO, Europe

2. Duke-Weeks Realty Corp. 8888 Keystone Crossing, Ste. 1200

Indianapolis, IN 46217

Tel: 317 808-6000; FAX: 317 808-6786

E-mail: webmaster@dukereit.com

Website: www.dukereit.com

Industrial sq. ft. for 1999: 75,800,000

Officers: Thomas L. Hefner, Chrmn./CEO; Gary A. Burk, EVP, Construction; A. Ray Weeks Jr., Vice Chrmn./COO; Thomas D. Senkbeil, EVP/CIO; Dennis D. Oklak, EVP/CAO; Derell E. Zink Jr., EVP/CFO

3. The RREEF Funds 875 N. Michigan Ave., 41st. Floor

Chicago, IL 60611

Tel: 312 266-9300; FAX: 312 266-9346

Website: www.rreef.com

Industrial sq. ft. for 1999: 61,000,000

Officers: Donald A. King Jr., Mng. Principal; Stephen M. Steppe, Principal in Charge, acquisitions; Gary T. Kachadurian, Principal in Charge; Robert J. Navratil, Principal in Charge, Property; Robert J. Cook, Principal in Charge, Portfolio

4. Liberty Property Trust 65 Valley Stream Pkwy.

Malvern, PA 19355

Tel: 610 648-1700; FAX: 610 644-4129

E-mail: jleonard@libertyproperty.com

Website: www.libertyproperty.com

Industrial sq. ft. for 1999: 32,000,000 Officers: Willard G. Rouse III, CEO; Joseph P. Denny, Pres.; George J. Alburger, CFO; Robert E. Fenza, EVP

5. Crow Holdings Industrial Trust 2100 McKinney Ave., 7th floor

Dallas, TX 75201

Tel: 214 661-8000; FAX: 214 661-8035

Industrial sq. ft. for 1999: 30,000,000

Officers: Anthony W. Dona, Partner; Charles R. Brindell Jr., Mng. Dir.; Jeff Charez, Mng. Dir.; Bob McClain, Mng. Dir.; Tom Burleson, Mng. Dir.; Carol Kreditor, Mng. Dir. of Asset Mgmt.

6. CenterPoint Prorperties Trust 1808 Swift Drive

Oak Brook, IL 60523

Tel: 630 586-8000; FAX: 630 586-8016

E-mail: info@centerpoint-prop.com

Website: www.centerpoint-prop.com

Industrial sq. ft. for 1999: 29,507,028

Officers: John S. Gates Jr., Pres./CEO; Michael M. Mullen, COO; Paul S. Fisher, CFO; Paul T. Ahern, CIO; Rockford T. Kottka, CAO

7. CB Richard Ellis Investors LLC 865 S. Figueroa St., Ste. 3500

Los Angeles, CA 90017

Tel: 213 683-4200; FAX: 213 683-4201

Website: www.cbrichardellis.com

Industrial sq. ft. for 1999: 28,757,000

Officers: Robert H. Zerbst, Pres.; William M. Harris, Ex. Mng. Dir.; Douglas J. Herzbrun, Mng. Dir.; Vance G. Maddocks, Ex. Mng. Dir.; Scott E. Tracy, Ex. Mng. Dir.; Mike Marshall, Ex. Mng. Dir.

8. Buzz Oates Enterprises 8615 Elder Creek Rd.

Sacramento, CA 95828

Tel: 916 381-3600; FAX: 916 381-8670

Website: buzzoates.com

Industrial sq. ft. for 1999: 19,000,000

Officers: Marvin L. Oates, Chrmn.; Kevin F. Ramos, Pres.; Larry Allbough, CFO

9. Dermody Properties 1200 Financial Blvd.

Reno, NV 89511

Tel: 775 858-8080; FAX: 775 856-0831

E-mail: marketing@dermody.com

Website: www.dermody.com

Industrial sq. ft. for 1999: 17,547,000

Officers: Michael C. Dermody, Pres./CEO; Bruce D. Storey, VP/CFO; Aaron Paris, VP/COO; Dan Anderson, Dir. of Asset Mngmt.; David Loring, Dir. of Dev.

10. Heitman Capital Management Corp. 180 N. LaSalle St., Ste. 3600

Chicago, IL 60601

Tel: 312 855-5700; FAX: 312 541-6784

Website: www.heitman.com

Industrial sq. ft. for 1999: 15,296,851

Officers: Jerome J. Claeys III, CEO, Heitman Financial LLC & Chrmn. HCM; Maury R. Tognarelli, Pres., Heitman Financial; Mary K. Ludgin, CEO/Pres., Heitman Capital; Eric D. Mayer, Vice Chrmn., Heitman Financial; Thomas D. McCarthy, COO, Heitman Capital; Roger E. Smith, CFO, Heitman Financial LLC

11. Ashley Capital 745 Fifth Ave., Ste. 900

New York, NY 10151

Tel: 212 755-1900; FAX: 212 750-1850

E-mail: ashleynyc@worldnet.att.net

Industrial sq. ft. for 1999: 13,800,000

Officers: Paul Rubacha, Principal; Rick Morton, Principal; Victor D'ortona, VP; Lori Roth, VP

12. Industrial Developments International 3424 Peachtree Rd., N.E.,

Monarch Tower, Ste. 1500

Atlanta, GA 30326

Tel: 404 479-4000; FAX: 404 479-4115

E-mail: info@idi.com

Website: www.idi.com

Industrial sq. ft. for 1999: 12,381,462

Officers: Henry D. "Greg" Gregory Jr., Pres./CEO; Tim Gunter, SVP/COO; David Birdwell, Senior VP/CFO; Steve Nelson, Senior VP, Central Region; Mike Cushing, Senior VP, Western Region; Matt O'Sullivan, Senior VP, Eastern Region

13. Lincoln Property Co. 500 N. Akard, Ste. 3300

Dallas, TX 75201

Tel: 214 740-3300; FAX: 214 740-3441

E-mail: info@lpcommercial.com

Website: www.lincolnproperty.com

Industrial sq. ft. for 1999: 12,300,000

Officers: Mack Pogue, CEO; William C. Duvall, Pres.; John Walter, EVP; Tom Kuhlmann, EVP

14. Hamilton Partners 300 Park, Ste. 201

Itasca, IL 60143

Tel: 630 250-9700; FAX: 630 250-8521

Industrial sq. ft. for 1999: 12,000,000

Officers: Allan J. Hamilton, Senior Partner; John Wauterlek, Industrial Partner; Ron Lunt, Office Partner; Gary Mori, Partner; Tim Beechick, Partner; Kevin Lynch, CFO

15. Opus Group 10350 Bren Road West

Minnetonka, MN 55343

Tel: 612 656-4444; FAX: 612 656-4755

Website: www.opuscorp.com

Industrial sq. ft. for 1999: 11,194,998

Officers: Gerald Rauenhorst, Chrmn. of the Board, Opus Corp.; Keith Bednarowski, Chrmn./CEO, Opus Corp.; Mark Rauenhorst, Pres./COO, Opus Corp.; Joe Rauenhorst, Pres./COO, Opus East Corp.; Neil Rauenhorst, Pres./CEO, Opus South Corp.; Thomas Roberts, Pres./CEO, Opus West Corp.; Jack Crocker, Pres./COO, Opus North Corp.; John Solberg, Pres./COO, Opus Northwest

16. HSA Commercial 180 N. Wacker

Chicago, IL 60606

Tel: 312 332-3555; FAX: 312 332-4122

Website: www.hiffmanshaffer.com

Industrial sq. ft. for 1999: 8,673,000

Officers: John E. Shaffer, CEO; Carl Manofsky, EVP/Acquisitions; Tim Luby, EVP/Acquisitions; Robert E. Smietana, Pres./COO; Melissa Pielet, EVP/Finance; Mark Christensen, EVP/Finance

17. Amsdell Companies 6745 Engle Rd., Ste. 300

Cleveland, OH 44130

Tel: 440 234-0700; FAX: 440 234-8776

Industrial sq. ft. for 1999: 8,200,000

Officers: Robert J. Amsdell, Chrmn.; Brian A. Hurtuk, SVP; Todd C. Amsdell, Pres., U-Store-it, Inc.; Barry L. Amsdell, Pres., Amsdell Construction Inc.; Steven G. Osgood, CFO

18. Reckson Associates Realty Corp. 225 Broadhollow Rd.

Melville, NY 11747

Tel: 516 694-6900; FAX: 516 622-6790

Website: www.reckson.com

Industrial sq. ft. for 1999: 8,041,230

Officers: Donald Rechler, Chrmn. of the Board/Co-CEO; Scott Rechler, Pres./Co-CEO; Michael Maturo, CFO/EVP; Mitchell Rechler, Co-COO/EVP; Gregg Rechler, Co-COO/EVP

19. Robert Pattillo Properties Inc. 2987 Clairmont Rd., Ste. 550

Atlanta, GA 30329

Tel: 404 235-3550; FAX: 404 235-3541

Industrial sq. ft. for 1999: 7,556,080

Officers: Robert Pattillo, CEO; R. Duane Wood, VP, Dev.; Jim Topple, VP, Dev.; John Atwell, VP, Dev.

20. Miller-Valentine Group 4000 Miller-Valentine Ct.

Dayton, OH 45401

Tel: 937 293-0900; FAX: 937 299-1564

E-mail: bgallinis@mug.com

Website: www.mvg.com

Industrial sq. ft. for 1999: 5,900,000

Officers: William Krul, Senior Partner/CEO; William Schneider, Senior Partner/COO; John Dietz, Senior Partner/CAO; Joseph Bornhorst, Partner & Pres. of Miller-Valentine Const.; Robert A. Gallino, Partner & Pres. of Miller-Valentine Realty; Dave Arnold, Partner & Pres. of Miller-Valentine, Ft. Wayne

21. Prentiss Properties Trust 3890 W. Northwest Hwy., Ste. 400

Dallas, TX 75220

Tel: 214 654-0886; FAX: 214 350-2437

Industrial sq. ft. for 1999: 5,000,000

Officers: Michael Prentiss, Chrmn.; Thomas F. August, Pres./CEO; Rick Bartel, EVP

21. Transwestern Investment Co. 150 N. Wacker, Ste. 800

Chicago, IL 60606

Tel: 312 499-1900; FAX: 312 499-1904

Website: www.transinvestco.com

Industrial sq. ft. for 1999: 5,000,000

Officers: Randall K. Rowe, Chrmn.; Stephen Quazzo, CEO; William Purdy, Mng. Dir., Dev.; Erwin Aulis, Mng. Dir./CIO, Acquisitions & Investments; Douglas Lyons, Mng. Dir., Capital Markets; Randall S. Bessolo, Mng. Dir., Asset Management

23. The Alter Group 7303 North Cicero Ave.

Lincolnwood, IL 60712

Tel: 800 637-4842; FAX: 847 676-4301

E-mail: tag@altergroup.com

Website: www.altergroup.com

Industrial sq. ft. for 1999: 4,297,800

Officers: William A. Alter, CEO; Michael Alter, Pres.; Randolph Thomas, EVP; Richard M. Gatto, EVP; Ronald F. Siegel, CFO; Catalina Parada, Marketing Director

24. McDonald Development Co. 3715 Northside Pkwy., Building 300, Ste. 650

Atlanta, GA 30327

Tel: 404 239-0885; FAX: 404 239-0877

E-mail: marketing@mcdonalddevco.com

Industrial sq. ft. for 1999: 4,000,000

Officers: John R. McDonald, Pres.

24. Hill-Raaum-Pietromonaco P.O. Box 700

Mercer Island, WA 98040

Tel: 206 232-7500; FAX: 206 232-1585

E-mail: hrp_prop@msm.com

Industrial sq. ft. for 1999: 4,000,000 Officers: John Pietromonaco, Mng. Partner; Mark Scalzo, Partner; Doug Cook, CFO

25. Champion Partners Ltd. 15601 Dallas Parkway, Ste. 500

Addison, TX 75001

Tel: 972 490-5600; FAX: 972 490-5599

E-mail: pmmccrea@championpartners.com

Website: www.championpartners.com

Industrial sq. ft. for 1999: 3,704,000

Officers: Jeffrey L. Swope, Mng. Partner

Top 20 Industria Developers Survey 1. Panattoni Development Co. 8401 Jackson Rd.

Sacramento, CA 95826

Tel: 916 381-1561; FAX: 916 381-7639

E-mail: kmercer@panattoni.com

Website: www.panattoni.com

Sq. ft. industrial under const. in 1999: 18,750,000

Officers: Carl Panattoni, Owner; Dudley Mitchell, Regional Partner; Jack Van Valkenburgh, Regional Partner; Jim Carlsen, Regional Partner; Rod Johnson, Regional Partner

2. Industrial Developments International 3424 Peachtree Rd., N.E.

Monarch Tower, Ste. 1500

Atlanta, GA 30326

Tel: 404 479-4000; FAX: 404 479-4115

E-mail: info@idi.com

Website: www.idi.com

Sq. ft. industrial under const. in 1999: 15,545,414

Officers: Henry D. "Greg" Gregory Jr., Pres./CEO; Tim Gunter, SVP/COO; David Birdwell, Senior VP/CFO; Steve Nelson, Senior VP, Central Region; Mike Cushing, Senior VP, Western Region; Matt O'Sullivan, Senior VP, Eastern Region

3. Duke-Weeks Realty Corp. 8888 Keystone Crossing, Ste. 1200

Indianapolis, IN 46217

Tel: 317 808-6000; FAX: 317 808-6786

E-mail: webmaster@dukereit.com

Website: www.dukereit.com

Sq. ft. industrial under const. in 1999: 14,900,000

Officers: Thomas L. Hefner, Chrmn./CGO; Gary A. Burk, EVP, Construction; A. Ray Weeks Jr., Vice Chrmn./COO; Thomas D. Senkbeil, EVP/CIO; Dennis D. Oklak, EVP/CAO; Derell E. Zink Jr., EVP/CFO

4. Opus Group 10350 Bren Road West

innetonka, MN 55343

Tel: 612 656-4444; FAX: 612 656-4755

Website: www.opuscorp.com

Sq. ft. industrial under const. in 1999: 14,034,526

Officers: Gerald Rauenhorst, Chrmn. of the Board, Opus Corp.; Keith Bednarowski, Chrmn./CEO, Opus Corp.; Mark Rauenhorst, Pres./COO, Opus Corp.; Joe Rauenhorst, Pres./COO, Opus East Corp.; Neil Rauenhorst, Pres./CEO, Opus South Corp.; Thomas Roberts, Pres./CEO, Opus West Corp.; Jack Crocker, Pres./COO, Opus North Corp.; John Solberg, Pres./COO, Opus Northwest

5. Trammell Crow Co. 2001 Ross Ave., Suite 3400

Dallas, TX 75201

Tel: 214 863-3000; FAX: 214 863-4250

E-mail: iraflowitz@trammellcrow.com

Website: www.trammellcrow.com

Sq. ft. industrial under const. in 1999: 12,700,000

Officers: George L. Lippe, Pres./CEO; Pryor Blackwell, COO; Robert Sulentic, CFO; John Stirek, Nat. Dir., Dev. & Investments

6. ProLogis Trust 14100 E. 35th Pl.

Aurora, CO 80011

Tel: 303 375-9292; FAX: 303 375-8581

Website: www.prologis.com

Sq. ft. industrial under const. in 1999: 11,600,000

Officers: K. Dane Brooksher, Chrmn./CEO; Irving F. (Bud) Lyons III, Pres./CIO; Walter C. Rakowich, CFO; Jeffrey H. Schwartz, Vice Chrmn./Mng. Dir.; John W. Seiple, Mng. Dir./COO North America; Robert J. Watson, Mng. Dir./COO, Europe

7. Koll Development Co. 4343 Von Karman Ave.

Newport Beach, CA 92660

Tel: 949 833-3030; FAX: 949 975-0136

Website: www.koll.com

Sq. ft. industrial under const. in 1999: 7,300,000

Officers: Barry Chase, EVP, Western Div.; Richard Ortwein, Pres.; Jerry Yahr, EVP; Jim Watson, Pres., Western Div.; Steve Van Amburgh, Pres., Southwest Div.; Dominic Petrucci, Pres., Arizona Div.

8. Heitman Capital Management 180 N. LaSalle St., Ste. 3600

Chicago, IL 60601

Tel: 312 855-5700; FAX: 312 541-6784

Website: www.heitman.com

Sq. ft. industrial under const. in 1999: 7,282,998

Officers: Jerome J. Claeys III, CEO, Heitman Financial/Chrmn., HCM; Maury R. Tognarelli, Pres., Heitman Financial; Mary K. Ludgin, CEO/Pres., Heitman Capital Management; Eric D. Mayer, Vice Chrmn., Heitman Financial; Thomas D. McCarthy, COO, HCM; Roger E. Smith, CFO, Heitman Financial

9. Higgins Development Partners 101 E. Erie, Ste. 800

Chicago, IL 60611

Tel: 312 943-4999; FAX: 312 943-4057

E-mail: hdp@hdpteam.com

Website: www.hdpteam.com

Sq. ft. industrial under const. in 1999: 5,000,000

Officers: John W. Higgins, Chrmn./CEO; Gerald A. Pientka, Pres.; Thomas R. Samuels, EVP; P. Marc Poggioli, VP, Eastern Region; Thomas R. Prescott, VP, Western Region; Timothy J. McEnery, SVP

10. Crow Holdings Industrial Trust 2100 McKinney Ave., 7th floor

Dallas, TX 75201

Tel: 214 661-8000; FAX: 214 661-8035

Sq. ft. industrial under const. in 1999: 3,500,000

Officers: Anthony W. Dona, Partner; Charles R. Brindell Jr., Mng. Dir.; Jeff Charez, Mng. Dir.; Bob McClain, Mng. Dir.; Tom Burleson, Mng. Dir.; Carol Kreditor, Mng. Dir., Asset Mgmt.

11. Buzz Oates Enterprises 8615 Elder Creek Rd.

Sacramento, CA 95828

Tel: 916 381-3600; FAX: 916 381-8670

Website: buzzoates.com

Sq. ft. industrial under const. in 1999: 2,600,000

Officers: Marvin L. Oates, Chrmn.; Kevin F. Ramos, Pres.; Larry Allbough, CFO

12. Robert Pattillo Properties Inc. 2987 Clairmont Rd., Ste. 550

Atlanta, GA 30329

Tel: 404 235-3550; FAX: 404 235-3541

Sq. ft. industrial under const. in 1999: 2,420,000

Officers: Robert Pattillo, CEO; Duane Wood, VP Dev.; Jim Topple, VP Dev.; John Atwell, VP Dev.

13. Ashley Capital 745 Fifth Ave., Ste. 900

New York, NY 10151

Tel: 212 755-1900; FAX: 212 750-1850

E-mail: ashleynyc@worldnet.att.net

Sq. ft. industrial under const. in 1999: 2,200,000

Officers: Paul Rubacha, Principal; Rick Morton, Principal; Victor D'ortona, VP; Lori Roth, VP

14. CenterPoint Prorperties Trust 1808 Swift Drive

Oak Brook, IL 60523

Tel: 630 586-8000; FAX: 630 586-8010

E-mail: info@centerpoint-prop.com

Website: www.centerpoint-prop.com

Sq. ft. industrial under const. in 1999: 1,996,306

Officers: John S. Gates Jr., Pres./CEO; Michael M. Mullen, COO; Paul S. Fisher, CFO; Paul T. Ahern, CIO; Rockford T. Kottka, Chief Administrative Officer

15. The Alter Group 7303 North Cicero Ave.

Lincolnwood, IL 60712

Tel: 800 637-4842; FAX: 847 676-4301

E-mail: tag@altergroup.com

Website: www.altergroup.com

Sq. ft. industrial under const. in 1999: 1,760,000

Officers: William A. Alter, Chrmn./CEO; Michael Alter, Pres.; Randolph Thomas, EVP; Richard M. Gatto, EVP; Ronald F. Siegel, CFO; Catalina Parada, Dir. of Marketing

16. WISPARK Corp. 10505 Corporate Dr., Ste. 100

Pleasant Prairie, WI 53158

Tel: 262-857-4661; FAX: 262-857-4669

Website: www.wispark.com

Sq. ft. industrial under const. in 1999: 1,632,000

Officers: Francis Brzezinski, Pres.; Jerold P. Franke, SVP; John Heller, Senior VP; Mark Ebacher, VP; Gregory Miller, VP

17. Transwestern Investment Co. 150 N. Wacker Ste. 800

Chicago, IL 60606

Tel: 312 499-1900; FAX: 312 499-1904

Website: www.transinvestco.com

Sq. ft. industrial under const. in 1999: 1,425,000

Officers: Randy Rowe, Chrmn.; Stephen Quazzo, CEO; William Purdy, Dev.; Erwin Aulis, Acquisitions; Douglas Lyons, Capital Markets; Randall S. Bessolo, Mng. Dir. Asset Mgmt

18. C B Richard Ellis Investors, LLC 865 S. Figueroa St., Ste. 3500

Los Angeles, CA 90017

Tel: 213 683-4200; FAX: 213 683-4201

Website: www.cbrichardellis.com

Sq. ft. industrial under const. in 1999: 1,400,000

Officers: Robert H. Zerbst, Pres.; William M. Harris, Ex. Mng. Dir.; Douglas J. Herzbrun, Mng. Dir.; Vance G. Maddocks, Ex. Mng. Dir.; Scott E. Tracy, Ex. Mng. Dir.; Mike Marshall, Ex. Mng. Dir.

18. Lincoln Property Co. 500 N. Akard, Ste. 3300

Dallas, TX 75201

Tel: 214 740-3300; FAX: 214 740-3441

E-mail: info@lpcommercial.com

Website: www.lincolnproperty.com

Sq. ft. industrial under const. in 1999: 1,400,000

Officers: Mack Pogue, CEO; William Duvall, Pres.; John Walter, EVP; Tom Kuhlmann, EVP

20. Dermody Properties 1200 Financial Blvd.

Reno, NV 89511

Tel: 775 858-8080; FAX: 775 856-0831

E-mail: marketing@dermody.com

Website: www.dermody.com

Sq. ft. industrial under const. in 1999: 1,355,100

Officers: Michael C. Dermody, President/CEO; Bruce D. Storey, VP/CFO; Aaron Paris, VP/COO; Dan Anderson, Director of Asset Management; David Loring, Director of Development