News
Michael C. Dermody Receives Inaugural NAIOP ‘Legend Award’ for Lifetime Achievement in Northern Nevada
Dermody Properties is pleased to announce that Executive Chairman Michael C. Dermody is the first recipient of the Legend Award from NAIOP Northern Nevada, a commercial real estate development association. This prestigious honor recognizes Mr. Dermody’s lifetime of dedication and profound impact on the industrial real estate sector and his philanthropic service to the northern Nevada community.
The Legend Award stands as a testament to individuals whose contributions have been marked by significant accomplishments in the commercial real estate industry, a deep-rooted commitment to NAIOP and meaningful service towards community betterment. University of Nevada, Reno President Brian Sandoval introduced Mr. Dermody before peers, colleagues and industry professionals at the annual NAIOP Commercial Real Estate Awards event on Saturday, March 2, 2024 at the Celebrity Showroom at the Nugget Casino Resort.
“Michael Dermody embodies the spirit of NAIOP’s Legend Award for his lifetime dedication to excellence, collaboration and community betterment,” said President Sandoval. “For more than 45 years, Michael has been instrumental in shaping northern Nevada’s real estate sector—he was an original champion of NAIOP Northern Nevada, involved in founding EDAWN and put Dermody Properties on the map, growing it from a local real estate developer to a leading national industrial real estate investment, development and management firm.”
During the event, Mr. Dermody was honored for his leadership skills, integrity, dedication, professionalism, long-standing relationships and keen focus on providing outstanding customer service. Mr. Dermody served as CEO of Dermody Properties from 1982-2023, assuming the role of Executive Chairman in 2023. A member of the Executive Committee and the Investment Committee, he continues his long-standing protocol of signing every lease as part of the company’s customer-based mission.
Beyond his dedication to the industry, the Legend Award recognizes Mr. Dermody for his extraordinary community service contributions, including establishing The Children’s Cabinet, Sage Ridge School, Safe Talk for Teens and the creation of the Dermody Properties Foundation, an employee-managed foundation that has donated more than $3.65 million to a variety of nonprofits in the communities Dermody Properties serves.
“I am humbled to receive this incredible honor and I am grateful for the hard work of NAIOP, an organization that continues to provide advocacy, education and a new level of collegiality and professionalism in commercial real estate in northern Nevada,” said Mr. Dermody. “Born and raised in Reno, I knew that I wanted to make a positive impact on the community where I live and work. I am thankful that Dermody Properties, along with the Dermody Properties Foundation, have allowed me to do just that.”
This year, Dermody Properties also committed to a scholarship toward NAIOP’s Northern Nevada Developing Leaders program. Geared specifically toward professionals age 35 and under, Developing Leaders perpetuates the original idea behind NAIOP—to grow a diverse and talented leadership pool by investing in young industry professionals and expanding the breadth of real estate development in northern Nevada. As an active and continuous sponsor of NAIOP, Dermody Properties encourages its team’s active involvement in NAIOP chapters across the nation.
“NAIOP Northern Nevada has established the Legend Award to recognize those in our community who have brought significant and notable value to our region, both through their profession and through their support of our community,“ said Ben Harris, President of NAIOP Northern Nevada. “Michael Dermody has contributed to making northern Nevada a better place in both of these arenas and we are honored to recognize him.”