Dermody Properties

In our 50-plus years of service, we have continually taken industrial development to new heights. Since Dermody Properties was established in 1960, the company has developed and leased more than 45 million square feet of high quality facilities to many Fortune 500 companies and other well-respected firm, and we are actively doing build-to-suits and joint ventures throughout the nation. While we have grown steadily and evolved into an industry leader on many levels, our mission has never wavered.

Real Estate Specialization
Industrial
Investment Type
JV partnership
Acquisition/Fee Simple
Investment Style
Development
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Chairman and Chief Executive Officer

Michael Dermody

Michael C. Dermody joined the firm in 1976, becoming President and CEO in 1983. Utilizing the team management concept, he led Dermody Properties from a local developer of real estate to a fully integrated national owner and developer of industrial warehouses throughout the nation. Dermody’s keen focus on customer service has allowed the company to maintain its close client relationships as the company has grown dramatically into a nationally recognized organization. Although the company began as a family business, under Dermody’s leadership it quickly grew into a dominant national industrial development organization through its alignment with institutional partners such as CalPERS and CalSTRS. In 2007, taking advantage of an unprecedented real estate market opportunity, the company sold its 25 million square foot portfolio to Prologis in what was heralded as one of the largest portfolio transactions in industrial real estate. Today the company has returned to its entrepreneurial roots through a select national team of development partners in key markets with an excellent land base. Dermody Properties has five regional offices throughout the country, and has developed more than 45 million square feet of industrial space. The new partner model creates an alignment of interests that allows the company to react quickly and stay focused on its core business of leasing and developing industrial real estate. Born in Reno, Dermody attended primary schools in Reno and graduated high school from Interlochen Arts Academy in Michigan. He studied at various schools in Switzerland and France, including the University of Bordeaux, obtaining a B.S. from the University of Colorado in 1972 and a J.D. from Gonzaga University in 1976. A cornerstone of his career has been a deep commitment to community service and charitable giving. In 1985, Dermody established The Children’s Cabinet, a non-profit agency which serves the needs of 8,000 at-risk families in northern Nevada annually. In 1988, the Dermody Properties Foundation was created; it is solely managed and directed by the employees of Dermody Properties and benefits the citizens of the communities in which the company does business. In 1998, Dermody also founded Sage Ridge School, an independent secondary school with a uniquely integrated core curriculum. In 2004, Dermody Properties became a sponsor for its first Habitat for Humanity house. Today 10% of the company’s ownership is dedicated to charity. In 2007, the annual Thanksgiving Capstone Award was created as a means of recognizing the most significant charity each year in one community in which the company does business. Mr. Dermody and his wife Tammy live in Reno with their four children. He enjoys mountain biking, skiing, fishing, and woodworking.

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President

Douglas Kiersey

Douglas A. Kiersey, Jr. is President of Dermody Properties. He is responsible for the company’s capital, acquisition, development and property management activities nationwide. Mr. Kiersey chairs Dermody Properties’ executive committee. Mr. Kiersey brings over 30 years of experience in capital formation, development, acquisition, management and marketing of distribution properties, with extensive experience in over 20 U.S. markets. Prior to joining Dermody Properties, Mr. Kiersey spent 17 years in various positions with Prologis. His most recent role was as Senior Vice President and Midwest Regional Director, where he had responsibility for development and operations in a region encompassing a portfolio of 84 million square feet in nine markets (Chicago, Cincinnati, Columbus, Indianapolis, Louisville, Memphis, Nashville, St. Louis and Toronto). In prior regional configurations, Mr. Kiersey also had Regional Director responsibilities for the New Jersey, Pennsylvania, and Washington DC/Baltimore markets. Prior to assuming his role as the Prologis Midwest Regional Director, he served as Vice President and Market Officer of the Chicago, Portland and Seattle markets. During his tenure at Dermody Properties and Prologis, Mr. Kiersey has overseen the development of over 23 million square feet of distribution space with an aggregate value in excess of $1.25 billion. Mr. Kiersey served as a member of the Prologis North America Investment Committee and North America Operating Committee from October 2001 to May 2011. He also worked for 11 years at Cushman & Wakefield in Portland, specializing in industrial and high technology properties. Mr. Kiersey received his BS in Business Administration from Oregon State University and has an MBA from the Kellogg School of Management at Northwestern University, where he is a member of the Kellogg Real Estate Advisory Board.

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Chief Financial Officer

Douglas Lanning

Doug Lanning joined Dermody Properties in August 1989 and is the Chief Financial Officer. He is responsible for all accounting, reporting, and financial functions for Dermody Properties and its related real estate entities, securing both interim and permanent financing for all Dermody Properties’ projects, acquisitions, dispositions and joint ventures. Since coming on board, Mr. Lanning has completed over $1 billion in project financing for the company’s nationwide speculative and build-to-suit projects for purchase and for lease. Mr. Lanning’s previous experience includes three years as Vice President of Finance for a regional land developer in Arizona and Nevada and six years as an Audit Manager for a national public accounting firm. Mr. Lanning holds a Bachelor of Science degree in Business Administration from the University of Nevada, Reno. He is a Certified Public Accountant and is active in many professional and community organizations, having held board positions on the US Bank Advisory Board and the Reno-Sparks YMCA.

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Partner

Gregory Arnold

Gregory J. Arnold is the Partner at Dermody Properties who is responsible for leading the company’s national customer relationship management initiative. Mr. Arnold brings 30-plus years of experience to Dermody Properties and is located in the company’s East Region office in New Jersey. Prior to joining Dermody Properties, Mr. Arnold was Principal at NorthPointe, NA, and worked with a variety of national real estate firms on account development and other aspects of advisement in industrial real estate. Mr. Arnold also served 17 years at Prologis as Senior Vice President of Global Customer Solutions. During his tenure at Prologis, Mr. Arnold assisted in the account management of the company’s largest customers and was responsible for the build-to-suit development of over seven million square feet of industrial facilities in North America, Europe and China. Prior to his position at Prologis he was an Equity Vice President with LaSalle Partners for 10 years (currently known as Jones Lang LaSalle). Mr. Arnold has developed, leased and managed industrial, office, retail and mixed-use facilities in Baltimore, Cincinnati, Columbus, Kansas City, Kentucky, Washington, D.C. and resided in each market. He received his B.A. from Hillsdale College in Hillsdale, MI. He is a charter member of the Industrial Asset Management Council (IAMC).

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Senior Vice President

Nancy Shultz

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Gene Preston

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Steven Karpf

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Partner

Phillip Wood

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Partner

Timothy Walsh

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Partner

Michael Dolan

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Director Of Property Management

Elizabeth Teske

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Patrick Gallagher

Key Focus Areas
Acquisitions Asset Management
Geographical Area
Mapped Location