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Shea Expands to San Diego

SAN DIEGO-The development firm opens a San Diego office and taps local industry veteran Greg Shannon to run the operation. Shea already has a transit-oriented development and an office condo project in the pipeline.

By Daniel D. Williams | Updated on September 01, 2005

SAN DIEGO-With two projects in the metropolitan area already in the pipeline, Shea Properties has decided to expand it operations and open a local office. Shea, which is the development and investment arm of J.F. Shea Co., has tapped a local real estate industry vet to run the operation.Greg Shannon, former president of Sedona Pacific Corp., will oversee the San Diego division. Shannon was a driving force in developing the master plan for Sedona’s projects within Petco Park’s business district.”Greg brings a unique blend of strategic thinking, excellent high profile development experience and community relationships to this new position at Shea Properties,” says W. William Gaboury, president and CEO of Aliso Viejo-headquartered Shea Properties.Gaboury adds that Shannon’s experience in pushing through projects in the area will help guide Shea’s existing projects in San Diego County. Already, Shea has projects in the pipeline at Solana Beach Train Station and at Balfour Corporate Center in Calrsbad, where it’s developing office condos.Part of Shannon’s objective will be to efficiently bring together Shea Homes and Shea Properties in the area, according to Garboury. “Development projects are much more integrated today, requiring a higher level of collaboration,” he adds.Shannon says in his role that he will oversee projects that encompass “multifamily communities, retail, office, industrial, hospitality, and for sale homes, as well as virtually any combination of those components.” The latest estimates bring Shea’s portfolio to more than $1.7 billion, with an additional $1.3 billion on tap over the next few years.

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