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Since 1985, Jay Krigsman has focused his efforts on the acquisition, development, redevelopment, management and leasing of high quality, well located retail, office, and industrial properties.
Jay began his career in commercial real estate as a tenant rep broker with Julien J. Studley, Inc. ("Studley") in the Washington DC submarket of Northern Virginia. In 1987, Studley tapped Mr. Krigsman to spearhead the opening of its Newport Beach, California operations.
In 1989, Jay teamed up with Birtcher Development and Mutual of New York ("MONY") to develop and lease a 1,000,000 square foot mixed use commercial project in La Palma, California.
In 1992, Jay was recruited by The Krausz Companies, Inc. to become its Vice President of Asset Management, and in 1995, Jay became a Principal with Krausz in many of its projects.
Since joining forces with Krausz, Jay was responsible for the acquisition, disposition, development, redevelopment, management and leasing of over 10 million square feet of commercial property. Some of the larger tasks at Krausz performed by Jay include the acquisition of the 1.2 million square foot Puente Hills Mall from Trizec Hahn. When acquired in 1996, the mall was 80% vacant with two dark anchors. Jay's efforts resulted in an entire redevelopment of the mall, including the development of a new state of the art AMC Theater, the value added creation, development and leasing of eight new out parcels, and an entire retenanting/repositioning of the enclosed mall. In 2003, Krausz and Mr. Krigsman sold the enclosed mall portion of the property to Passco in what is still today one of the largest Tenancy in Common transactions on record. Krausz and Jay still own the periphery out parcels at this property.
Other projects Jay and Krausz are working on together include: the acquisition and ongoing redevelopment of over 1,000,000 square feet of industrial/distribution space near the airport in Ontario, California; the acquisition of a high profile shopping center in Maui, Hawaii, along with an additional 15 acres of to be developed land, on which Jay is involved in obtaining the entitlements, zoning, design approvals, and ultimately the tenancy for this new development; the development of a 220,000 square foot office building in Valencia, California; the redevelopment of a 400,000 square foot office building in Phoenix, Arizona; and the development of a 135,000 square foot, first of its kind high rise office condo development in Phoenix, Arizona.
Jay is a California licensed Real Estate Broker, holds a Certified Leasing Specialist ("CLS") designation from the International Council of Shopping Centers, is a Certified Commercial Investment Manager ("CCIM") candidate, and holds a Bachelors degree in Business Administration with a concentration in Urban Studies and Real Estate Development from the University of Maryland.
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