Majestic Realty Co.

Majestic Realty Co.
Private
Industry Real estate development
Founded 1948
Founder Edward P. Roski, Sr.
Headquarters Los Angeles, United States
Products Commercial Real Estate
Total assets 70,000,000 Square Feet
Owner Chairman Edward P. Roski Jr.
Website MajesticRealty.com

Majestic Realty Co. is a commercial property company based in Los Angeles, California which operates throughout the United States. The company is the largest privately held owner of industrial estate in the U.S.[1] Billionaire Edward P. Roski Jr. is the President and Chairman of the Board for the company.[2]

Majestic Realty is actively trying to building a football stadium and bring a team to Los Angeles.[3][4]

The company’s corporate headquarters is in City of Industry, California.[5]

Foundation

In 2002, Majestic began the Majestic Realty Foundation to formalize their pursuit of philanthropic endeavors. The Foundation donates its time and effort into the five key investment areas of Youth, Education, Family, Health, and Violence prevention. Roski wanted to do more than just write checks blindly to its grantees. He sought to use the company's resources to help build strategies for nonprofit organizations and help with management initiates in what is referred to as "active philanthropy".[6][7]

History

Majestic Realty Co. was founded by Edward P. Roski, Sr. in 1948. During the 1960s, The company purchased land from the Union Pacific railroad and began constructing build-to-suits in Vernon and the Commerce, California. In 1966 Current Chairman, Edward P. Roski, Jr. returned from Vietnam after 4 years of service with the United States Marine Corps where he was decorated for bravery with two Purple Hearts. In September 1968, Majestic formed its own construction company, Commerce Construction, Inc.

In 1970, Majestic became one of the first in the industry to develop a master-planned park, Bonelli Street park, which consists of 7 buildings totaling over 700,000 sq ft. In 1988, Majestic completed its first building larger than 1 million square feet. The 1.3 million sq ft General Electric Company warehouse, in the City of Industry, California. The project marked an industry milestone in consolidation as large companies moved from small regional distribution warehouses to fewer, geographically targeted and larger distribution warehouses. The project also illustrated the growing popularity and efficiencies for distribution chains practicing just-in-time manufacturing.

During the 1990s, Majestic opened up offices in Las Vegas (1993), Denver (1996), Atlanta (1998), Dallas (1999). With a new national presence Majestic began developing mixed-used projects throughout the United States.[8]

In 2002, Majestic's longstanding tradition of corporate giving was formalized with the launch of the Majestic Realty Foundation – now the cornerstone of its community investment program. Their foundation focuses on active philanthropy in the communities in which they do business.[9]

In 2008, Majestic acquired land at the former Bethlehem Steel Co. site in Bethlehem, Pennsylvania. Majestic soon after opened an office in Bethlehem. This site's notable projects include a 800,280 sq ft building built for Crayola[10] and the recently completed 1,197,400 sq ft building built for Walmart.[11]

Today, Majestic's portfolio consists of over 70,000,000 sq ft of Industrial, Retail, Office, Sports & Entertainment, and Hospitality developments across the nation.[12]

References

  1. ↑ "National Real Estate Investor Magazine". NREIonline. Retrieved 2013-11-06.
  2. ↑ "Edward Roski, Jr.". Forbes Magazine. Retrieved 2014-10-30.
  3. ↑ "LA Football Stadium". LAFootballStadium. Retrieved 2013-11-06.
  4. ↑ "The NFL in L.A.? Sure, possibly even in your lifetime". Los Angeles Times. Retrieved 2013-12-01.
  5. ↑ "Majestic Realty Co. Los Angeles Office". Majestic Realty Co. Retrieved 2013-11-06.
  6. ↑ "Majestic Realty Foundation". Majestic Realty Co. Retrieved 2014-10-30.
  7. ↑ "Giving Back". Smart Business Magazine. Retrieved 2014-10-30.
  8. ↑ "History of Majestic". Majestic Realty Co. Retrieved 2013-11-06.
  9. ↑ "Majestic Foundation". Majestic Realty Co. Retrieved 2013-11-01.
  10. ↑ "Crayola opens 800,000-square-foot distribution center". Lehigh Valley Business Journal. Retrieved 2014-10-27.
  11. ↑ "Walmart announces second Bethlehem distribution center; more than 650 total jobs expected". Lehigh Valley Business Journal. Retrieved 2014-10-27.
  12. ↑ "Majestic Realty Co.". Majestic Realty Co. Retrieved 2014-10-27.
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