HERNDON, VA—Brandywine Realty Trust, a REIT based in Radnor, PA, has been selected by NAIOP as the 2014 Developer of the Year – the association’s highest honor. In some ways the choice, as it is every year, was difficult given the quality candidates that were nominated for the award, NAIOP president and CEO Thomas Bisacquino tells GlobeSt.com. “It is a somewhat subjective decision,” he says. On the other hand, though, “the choice was not that difficult at all. I think what impressed the committee the most about Brandywine was its ability to adapt to changing market conditions.”
The REIT had a hard audience to impress, he adds, as the committee is made up of developers from around the country. “These are people in the business and they know it inside out,” Bisacquino says.
Brandywine is currently working on more than $600 million in new development and construction projects. In recent years the REIT has expanded into transit-oriented locations as well as in the multifamily, student housing and retail sectors.
One project in particular that wowed the committee was Brandywine’s 2.7 million square foot Cira Centre South development and its 49-story FMC Tower at Cira Center South. “It’s one of Brandywine’s many great projects,” Bisacquino says.
The 2014 Developer of the Year award will be presented on Tuesday, October 28, at NAIOP’s Development ’14: The Meeting for Commercial Real Estate in Denver, Colorado.