INDIANAPOLIS – (February 1, 2007) – As Lauth prepares to celebrate its 30th Anniversary in 2007, the company today reported record growth in 2006. Lauth recorded volume for the year of $592 million, more than doubling its’ 2005 volume of $278 million.
“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.”
Each of the company’s product groups – office, industrial, healthcare, and retail achieved unsurpassed results in 2006. Lauth climbed to the 14th largest development company in the nation according to Commercial Property News and into the top 200 contractors in the US by Engineering News Record in 2006. Lauth is one of only seven companies to appear on both lists and one of only four general contractors licensed in all 49 continental United States. Lauth also celebrated the opening of the French Lick Resort and Casino ahead of schedule in November 2006.
Lauth’s experience and reputation for quality projects contributed greatly to the company’s success in the office and industrial sectors. Lauth completed a record number of build-to-suit and speculative projects totaling more than 7.1 million square feet. The company currently has projects underway in 30 states. Lauth’s ownership and development of NASCAR Plaza, a 19-story office tower in downtown Charlotte, added to its success across the nation in 2006. The company also opened the award-winning HSBC Mortgage headquarters and commenced or completed build-to-suit projects for companies such as Sysco Foods, Saint Gobain Containers, Progressive Insurance, S.I. International, Midwest ISO, Plastech, and Recreational Equipment, Inc. (REI). In addition, the company announced a number of new master-planned parks, namely, Aurora Commerce Center in suburban Denver, Eastpoint Business Park near Indianapolis, and Riverview Point Business Park and Riverside Business Center both located near Phoenix.
Southeast Construction Magazine recognized the company’s work in 2006 for developing and building environmentally friendly buildings. Lauth’s HSBC Corporate Headquarters in Fort Mill, South Carolina received the “2006 Award of Excellence” for Leadership in Energy and Environmental Design (LEED) certified building. Lauth is “raising the bar” with the construction of a 525,000 SF distribution center for outdoor gear and apparel supplier REI to “silver” LEED standards, one of only two dozen distribution buildings to meet this standard in the U.S.
“Gaining the trust of recognized names such as NASCAR and HSBC is a testament to Lauth’s decades of experience and dedication to quality,” said Mike Jones, Senior Vice President of Office and Industrial. “Doubling our business would not be possible without a dedicated team of professionals who work tirelessly to put our clients at ease during the development process.”
Lauth’s growing healthcare portfolio mirrors the rapid growth taking place in the healthcare industry overall. Lauth completed or began development of 21 healthcare projects in eleven states in 2006 including the state-of-the-art Bon Secours Cancer Institute at St. Francis Medical Center in Virginia. Lauth also started construction on the Exempla Lutheran Medical Center in the Denver-area, announced plans for its third medical center in Texas, and has five facilities nearing completion for Select Medical. Starting with its first medical office building in 1987, Lauth has gained national prominence as a developer of healthcare facilities. The company offers a unique program that encourages its qualified physician-tenants to become part owners of these medical office buildings.
“Lauth is working with some of the nation’s top healthcare providers to develop and construct medical facilities across the country,” said Todd Jensen, Senior Vice President of Healthcare. “Lauth’s growth in the healthcare industry can easily be traced to the company’s experience in anticipating the facility needs of healthcare providers.”
Retail continues to be a bright spot of growth for Lauth. The company opened or began development of eight new retail centers in 2006 – a company record. Six projects in the pipeline will soon double Lauth’s amount of completed retail space – currently at 2.72 million SF. The company’s retail focus is currently on Indiana, North Carolina, and Texas; however Lauth is exploring possible retail developments in several other states. 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 development in Texas. The company also opened Sycamore Terrace in Terre Haute, Indiana and Lafayette Pavilions in Lafayette, Indiana. Other developments include: Porter’s Vale in Valparaiso, Indiana and Brownsburg Station outside of Indianapolis.
“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.”
Lauth expects its growth to continue in 2007. The company is currently constructing and developing 35 projects, totaling nearly six million square feet, in multiple U.S. markets.
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About Lauth
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