After more than two years of bringing its full-service real estate development entity, CRG, to Newport Beach, Calif., the Chicago-based Clayco is establishing a regional office in Los Angeles to grow its operations on the West Coast.
Clayco, with a focus on projects across various asset types including industrial and multifamily, has completed several billion dollars of work on projects along the West Coast and currently has a backlog of more than $2 billion in Washington, Oregon, California, Nevada and Arizona.
Despite all the economic uncertainties the West Coast real estate market has seen since the onset of the pandemic, Clayco experienced significant growth in all its business lines in the region, according to Bob Clark, executive chairman & founder of Clayco. The setbacks and volatility some markets have experienced created the opportunity for this investment, allowing Clayco to better serve its customers in the region, Clark pointed out.
Growing presence, growing team
The Los Angeles-based headquarters will be in Culver City and will house group leaders from all of Clayco’s business units and subsidiaries. As part of the expansion, Clayco also hired industry veterans Rob Jernigan and Emery Molnar as senior vice presidents.
Additionally, Executive Vice President & Shareholder Ryan McGuire will help to lead the company’s efforts in the region, together with Robert Valdes, vice president of Industrial Pacific Region and executives from Clayco’s design arm, the Lamar Johnson Collaborative.
Clayco has also recently expanded its operations in Phoenix through its development and investment arm, CRG. The company opened the Phoenix office after announcing a partnership with Bird Dog Industrial to develop a 5.5 million-square-foot industrial facility in Glendale, Ariz.