INDIANAPOLIS – (February 5, 2007) – As Lauth prepares to celebrate its 30th Anniversary in 2007, the company today reported solid performance in retail development in 2006.
“Lauth’s planned growth continued in 2006,” said Robert Lauth, Chairman and CEO. “I find it particularly satisfying that we experienced this growth without sacrificing our commitment to surpass our clients’ vision and expectations for each and every project.”
The company opened or began development of eight new retail centers in 2006. Once completed, these centers will double Lauth’s amount of developed retail space. Many of Lauth’s retail developments feature anchor tenants such as Wal-Mart, Target, Lowe’s Home Improvement Centers, Kohl’s Department Stores, JCPenney, Office Depot, Starbucks, and more.
“Lauth’s retail development experience provides a real sense of security for our tenants,” said Larry Evinger, First Vice President of Retail. “We consider ourselves trusted partners working together to provide exciting new retail choices for our neighbors and long-term business success for our clients.”
The company’s retail focus is currently on Indiana, North Carolina, and Texas; however Lauth is exploring possible retail developments in several other states. Lauth started construction on Porter’s Vale in Valparaiso, Indiana (Chicago DMA) in 2006. This 750,000 SF development will feature a stand alone JCPenney and Cinemark theatre. Lauth also began development of Brownsburg Station, outside of Indianapolis. This development will be anchored by a Lowe’s Home Improvement Center and another national department store. Three new retail centers in the Charlotte-area highlight the company’s tremendous growth in the Southeast. Lauth will break ground in spring 2007 on Bryan Towne Center in the Bryan/College Station market, the company’s first retail venture in Texas. The company also opened Sycamore Terrace in Terre Haute, Indiana and Lafayette Pavilions in Lafayette, Indiana in 2006.
Lauth expects its growth to continue in 2007. The company is currently constructing and developing 35 projects across its’ four product groups, totaling nearly six million square feet, in multiple U.S. markets.
Since 1977, Lauth has been building facilities for clients to lease or own throughout the United States. Lauth’s years of solid experience, coupled with completed projects worth billions, make it one of the nation’s leading development and construction firms. Lauth delivers many types of commercial facilities including office, industrial, healthcare and retail from eight offices nationwide. Additional Lauth information is available at www.lauth.net. People. Trust. Experience. SM