News
Doug Kiersey Featured in Nevada Business Magazine
Doug Kiersey, President of Dermody Properties, and Craig Willcut, President and CEO of our longtime partner United Construction, were recently featured in Nevada Business Magazine. The article, “The Survivors: Builders and Developers in Nevada,” explores the business tactics of various development companies who have survived the economic downturn and kept their companies afloat in this tough market. Business might not be as robust as it was in 2007, but the success of Dermody Properties proves that there are still opportunities for growth in Nevada and across the United States. Learn more in this excerpt from the article:
The Survivors: Builders and Developers in Nevada
By Doresa Banning
The economic downturn in 2007 left both residential and commercial developers and builders in the Silver State scrambling for work. Many were forced to downsize their staffs, and some even closed their doors.
“Since 2008, the development business has been a fraction of what it was,” said Doug Kiersey, President of Dermody Properties, a Reno-based industrial developer.
Five years later, how are the survivors faring?
Client Driven
To weather the economic downturn, Dermody Properties has primarily been doing build-to-suit projects and joint ventures, Kiersey said. As always, its clients are scattered throughout the country, and as such, Dermody has offices not only in Reno but also in Philadelphia, Chicago and Portland. About 25 percent of its work is in Nevada.
Other than some staff reduction a few years ago, Dermody’s management hasn’t shifted its operations or focus. For example, they’ll go and do jobs where a client wants. Today, the firm’s quantity of work is greater than last year’s.
“Our build-to-suit pipeline is more robust than it’s ever been,” Kiersey said.
Recently, Dermody completed the Urban Outfitters distribution center project (with United Construction) and a 257,000-square-foot building in Chicago. In addition, it just landed a build-to-suit project in South New Jersey for an organic produce business