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Ryan Companies named developer of the year
Ryan becomes the latest Minnesota real estate company to get a national industry group's top award.
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Minneapolis-based Ryan Companies will be named national developer of the year today by the country's largest commercial real estate trade group.
Ryan, whose downtown Minneapolis projects include Target Corp. headquarters, U.S. Bancorp Center and the Minneapolis Westin Hotel, becomes the third Minnesota company to win the award from the National Association of Industrial and Office Properties (NAIOP). Bloomington-based United Properties received it in 2004, and Minnetonka-based Opus Corp. won it in 1992.
Founded in Hibbing nearly 70 years ago, Ryan does business in about 35 states and expects revenue to top $1 billion in fiscal 2008, according to president Pat Ryan. It has about 700 employees and, in addition to Minneapolis, has offices in Chicago, Phoenix, San Diego, Tampa, Fla., and in Des Moines, Cedar Rapids and Davenport, Iowa.
"We have called ourselves a national development company for quite a while, but I'm not sure people have looked at us that way," said CEO Jim Ryan, who along with his cousin Pat are grandsons of company founder James Ryan. The NAIOP award validates that claim, Jim Ryan said.
The NAIOP award is based on criteria such as industry leadership, quality of products and services, financial consistency, ability to adapt to market conditions and social consciousness. NAIOP has given out the award for 26 years and considers companies in both the United States and Canada.
Besides its work downtown, notable Ryan projects in the area include the Midtown Exchange mixed-use development on the site of an old Sears complex, the Quarry and Cedar Point Commons shopping centers, the Dean Lakes business and residential project in Shakopee and Westin Galleria and Residences in Edina. The company focuses on adaptive reuse of properties and sustainable design in new construction.
Pat and Jim Ryan said community involvement has long been part of the company's corporate culture, with employees encouraged to get involved with fundraising or to serve on boards of nonprofit organizations. The Phoenix office recently reached a goal of having all employees involved in charitable activities, they said.
In Minneapolis, Ryan's recent community involvement includes its support of a youth-development center in the Phillips neighborhood. Ryan contributed to and helped raise funds in the business community for the Colin Powell Leadership Center, which includes a Cristo Rey Jesuit school. It also built the facility, whose first school term begins this fall.
Susan Feyder • 612-673-1723 • sfeyder@startribune.com
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