CHICAGO, IL--(Marketwire - September 8, 2010) - The Alter Group has been named Developer of the Year for 2010 -- the industry's most prestigious developer award -- by NAIOP, the Commercial Real Estate Development Association.
"The Alter Group's diverse business practices and position as an industry leader are evidenced by its ability to outperform, no matter what the real estate cycle," said Thomas J. Bisacquino, NAIOP President. "NAIOP is proud to recognize The Alter Group for its development of outstanding projects and its ability to extend the company's practices to capitalize on opportunities and meet the demands of today's markets."
The Developer of the Year award is presented to one member-developer that best exemplifies leadership and innovation in the commercial real estate industry. The winner is determined by a selection of industry peers, who use six criteria to evaluate entries: industry and business leadership; involvement in NAIOP; quality of products and services; financial consistency and stability; ability to adapt to market conditions; and social consciousness.
The Alter Group has developed more than 100 million SF of prime build-to-suit and speculative space nationally throughout its 55-year history. Currently, the company has 4,000,000 SF of sustainable, high-image office and industrial buildings under ongoing development for major corporations, in addition to healthcare facilities and student housing -- the two sectors most critical to the nation's economic recovery, according to the Obama administration and Congress.
"Despite the slow-to-recover commercial real estate market, The Alter Group has 230,000 SF in projects and new leases underway in the second half of 2010," said Michael Alter. "This is possible because The Alter Group has held to its traditional way of doing business: solid underwriting; assessing credit; and maintaining a conservative approach to investing."
The Alter Group is a national corporate real estate development firm of office, industrial and healthcare facilities. Additionally, the firm provides comprehensive services in brokerage, construction, investment services, and property and asset management.
Founded by William A. Alter in 1955, The Alter Group has developed close to 100,000,000 SF of speculative projects for its own portfolio and build-to-suit facilities for corporate users. This year, the company has 4,000,000 SF of space, worth $600,000,000, under development in national markets. The firm was recently ranked as # 3 in the National Real Estate Investor survey of America's top office developers.
For more information about The Alter Group, please visit www.altergroup.com.
Contact Information:
Contact:
Tom V. Silva
Senior Vice President of Marketing & Strategy
tsilva@altergroup.com
(847) 568-5897
