A pair of Cincinnati commercial real estate veterans have launched a new firm to provide development services. R. Mark Addy, former chief operating officer of Phillips Edison & Co., and Douglas Compton Sr., previously an owner and founding partner in Anchor Retail Solutions/Anchor Development, combined their expertise to form ComptonAddy earlier this year. The commercial real estate company will provide a range of development services focused primarily on retail, multi-tenant and medical build-to-suit projects throughout the U.S. Compton said the firm is starting with a robust pipeline comprised mainly of repeat tenant relationships.
“We haven’t noticed any significant slowdown with our tenants because they realize that necessity-based real estate is now more important than ever as the U.S. adjusts to the current environment,” Compton said in a news release.
ComptonAddy will focus on build-to-suit services for commercial development. The services it will provide include market research and evaluation, parcel assemblage, architectural design services, due diligence, construction management, traffic analysis, leasing services, zoning analysis and rezoning assistance, and others.
“ComptonAddy has the capital and the expertise to help tenants thrive amongst the ever-changing retail environment,” Addy said in a news release.
The duo has development experience working with a number of national retailers, including Starbucks, Panera Bread and Chipotle. The partners have more than 30 years of experience.
Compton has managed and partnered in more than 200 development projects across the country. During his time with Phillips Edison, one of the largest owners of grocery-anchored shopping centers in the nation, Addy raised more than $3 billion in equity to help drive the growth of the company’s real estate investment trust business.
ComptonAddy opened its offices in Rookwood Tower, located at 3805 Edwards Road in Norwood.
Source: By Tom Demeropolis – Senior Staff Reporter, Cincinnati Business Courier