As Executive Vice President of Development, Scott Strine is responsible for helping to evaluate potential acquisitions with special emphasis on land acquisitions for future development opportunities at Dermody Properties. Mr. Strine works closely with each of the company’s regional partners on development opportunities across the nation.
Mr. Strine is recognized as an expert in all aspects of the land development process including site acquisition, evaluating the feasibility and suitability of proposed sites and negotiating site plan approvals and entitlements with public entities. Mr. Strine has special expertise in thoroughly evaluating and assessing the risk in acquiring properties with significant environmental issues including former Superfund sites.
Prior to joining Dermody Properties, Mr. Strine was a Vice President at ProLogis for 17 years, where he supervised all aspects of the acquisition and review of existing industrial properties and land acquired for future development throughout the United States and Canada. During this time, he was involved with the acquisition of approximately 19 million square feet in 65 separate transactions for $530 million and was part of the team that acquired Meridian Industrial Trust, a large, publicly-traded REIT with 36 million square feet of industrial space for $1.4 billion in 1999. In addition, he was involved with the acquisition of approximately 4,500 acres of land for future development in 62 separate transactions with a total investment of $2.75 billion after construction.
After leaving ProLogis in 2011, Mr. Strine was a Principal at Hilltopper Realty Advisors, LLC providing real estate advisory services to clients (including ProLogis) evaluating future industrial and retail development opportunities on 15 sites totaling 2,500 acres with planned future development of 40 million square feet and a total investment after construction of approximately $2.4 billion.
Earlier in his career, Mr. Strine was a Senior Consultant with Kenneth Leventhal & Company, where he provided valuation, underwriting and due diligence services to national real estate clients acquiring and disposing of various types of assets including regional malls, central business district office buildings, community shopping centers and distribution facilities. In addition, Mr. Strine provided strategic planning on corporate restructuring to real estate entities and was involved in the review of $1.5 billion of non-performing real estate loans and REO properties disposed of for the RTC, FDIC and major money center banks.
Mr. Strine holds a Bachelor of Science degree in accounting from the Gies College of Business at the University of Illinois at Urbana-Champaign.