Lincoln Property Company, one of the top five residential and commercial real estate development companies in the nation, opened a regional office in Phoenix this week. The office will oversee operations and project development in Arizona, Nevada and New Mexico.

Lincoln hired David Krumwiede, who was a senior director with Opus West, the most active commercial developer in the Phoenix area for the past decade. Krumwiede was named EVP.

"Considering the size of greater Phoenix, there are relatively few national real estate entities here," Krumwiede says. "This is a tremendous opportunity to introduce a significant national player to the local marketplace."

In Phoenix, the company initially will focus on office, industrial and retail development, including build-to-suit in the office and industrial sectors. Additional goals include property acquisition and expansion of the firm's extensive property management services, Krumwiede says. Lincoln Property has never developed a project in the Phoenix area.

Formed in 1965, Lincoln manages and develops a range of properties including suburban low-rise and urban high-rise offices, industrial facilities, power centers, neighborhood shopping and specialty retail centers, major mixed-use developments with hotels, build-to-suit projects and multi-family properties.

The company has developed more than 140 million sf of commercial property, 140,000 apartment units and currently manages more than 145 million sf of space. It has properties in more than 200 cities across the nation.

Opus West promoted two senior executives to fill the void left by Krumweide's absence. Keith Earnest and Jeff Roberts were both named to the position of senior director, real estate development. Together, the two will oversee all phases of real estate development.

Opus West has been the most active office and industrial developer of the past decade. The company is in development on its fifth and final office tower at the Camelback Esplande at 24th Street and Camelback Road, which totals nearly one million sf of the most expensive leased office space in town. The firm also teamed up with Florida developer Barron Collier to build the $500-million Collier Center in Downtown Phoenix, which was completed late last year.

Last month, Opus West was named developer of the year by the Phoenix chapter of the National Association of Industrial and Office Properties.

Earnest and Roberts will manage considerations, including feasibility, site acquisition, entitlements, design and constructionoversight and leasing for Opus West projects in the same markets Lincoln has targeted: Arizona, New Mexico and Nevada.