SAN DIEGO REAL ESTATE PROFESSIONAL, GREG SHANNON, NAMED VICE PRESIDENT-DEVELOPMENT FOR SHEA PROPERTIES’ NEW SAN DIEGO DIVISION
Shea Properties Announces San Diego Division – Forming Strategic Alliance Between Shea Homes and Shea Properties in the San Diego Market
SAN DIEGO (Aug. 25, 2005) - Shea Properties, the commercial development and investment arm of the J.F. Shea Co. family of companies, today appointed Greg Shannon, a development executive with more than 20 years of real estate experience, to oversee its new San Diego division.
Shannon, a San Diego resident and former president of Sedona Pacific Corporation was responsible for creating the master plan and securing the necessary entitlements for its redevelopment project within the San Diego Padres Ballpark District. In addition, he has completed a broad range of real estate projects including transit-oriented development, adaptive reuse, entertainment, endangered species habitat mitigation, and public facility development.
“Greg brings a unique blend of strategic thinking, excellent high profile development experience, and community relationships to this new position at Shea Properties. His vast knowledge of real estate development, redevelopment and entitlements will serve the San Diego markets well and help solidify Shea’s commercial presence in San Diego,” said W. William Gaboury, president and CEO of Aliso Viejo-headquartered Shea Properties.
The decision to bring on a senior development expert follows Shea Properties’ increased presence in San Diego County with projects at the Solana Beach Train Station transit-oriented development and the Balfour Corporate Center office condominium project in Carlsbad.
According to Gaboury, this addition will take advantage of strengths and synergies that exist within Shea Homes and Shea Properties, “Development projects are much more integrated today, requiring a higher level of collaboration and seamless interface among the different elements. For example, it is not uncommon to have a project with not only a for-sale component, but also a retail and office component as well. Having a Shea representative on the ground with vast commercial experience will maximize this collaboration process, and leverage these strengths in order to create a much smarter development process. Greg’s vast experience in all of these specialties will be critical to ensuring this vision is carried out to fruition.”
According to Shannon “I am extremely excited to be a part of the Shea team. We’re one of the few companies in the nation that can undertake the whole spectrum of real estate development products from multifamily communities, to retail, office, industrial, hospitality, and for sale homes, as well as virtually any combination of those components.”
Prior to founding Sedona Pacific Corporation, Mr. Shannon was the highest-ranking American officer for Shimizu Development. As vice president, he was in charge of development of America Plaza, San Diego’s award winning mixed-use project that includes San Diego’s largest office building.
He is the Downtown San Diego Partnership’s representative on the Centre City Community Plan Update; has served as the Chairman of the Community Liaison Group for the Port of San Diego’s Sough Embarcadero Urban Development Plan; a member of the Centre City Redevelopment Project Area Committee; Chairman of the Cardiff School District Modernization Committee; a member of the Urban Land Institute and a member of Lamba Alpha International.
Mr. Shannon received his master’s degree in City and Regional Planning from Harvard University’s Graduate School of Design, and his bachelor’s degree in Business and Public Administration from the University of Arizona.
About Shea Properties (www.sheaproperties.com)
Headquartered in Aliso Viejo, Calif., Shea Properties is a leading California-based investment real estate company. During the last twenty years, Shea Properties' operating revenues have grown from less than $17 million in 1984 to more than $165 million for 2004. During that same time, the value of the Shea Properties' portfolio grew from $150 million to $1.7 billion with an additional $1.3 billion expected to stabilize in the next few years. As a leading investment real estate company, Shea Properties currently owns and operates more than 7,000 apartments units and 4.4 million square feet of commercial real estate in California and Colorado. Another 10 million square feet of office, industrial and retail space and 1,200 apartment units are in the development pipeline in California, Colorado and Arizona.
Shea Properties is building some of the West Coast's finest real estate development projects. Leaders within the development industry for more than 25 years, Shea Properties has earned an outstanding reputation for its full service approach, which focuses on creating long-term value. Shea Properties offers a complete range of development management, leasing, redevelopment, property management and consulting services. Shea Properties is a multifaceted and dynamic organization having the unique position of being an independent member of the Shea family of companies. In concert with sister company, Shea Homes, one of the nation's largest private home builders, Shea Properties can offer a range of capabilities matched by few other developers in the industry.
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Dennis Kaiser / Vincent Aviani
Macy + Associates
(310) 821-5300
