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The Colorado Story

George M. Wallace, considered the founder of the Denver Technological Center, was known for his vision and creativity.  The DTC was one of the first suburban office parks in the country.  In 1962, Wallace drove a brand new Lincoln to his downtown Denver office.  That evening, he discovered a scrape in the car door.  He vowed to move his firm out of downtown to a location with “plenty of free parking.”  He intended to buy 5 acres in the SE Metro Denver area for his own office building.  However, the land owner would only sell him a 40-acre parcel.  With those remaining 35 acres, a developer was born.  Today, 909 acres make up the DTC. 

Throughout the 1970’s, we added more office, residential, retail, hotels and infrastructure to the DTC.  By 1981, 5,000,000 square feet of space had been developed, and today that number stands at more than 14,000,000 square feet.

In 1984, we acquired Meridian International Business Center, a mixed-use park in the SE Denver business corridor.  The following year, Meridian’s centerpiece, the Jack Nicklaus-designed 18-hole golf course was completed. In the 90’s we added more land, expanding Meridian to 1,630 acres of managed land consisting of 40% open space.  By the year 2000, 3,000,000 square feet of space had been developed at Meridian. 

In 1987, DTC Meridian was acquired by the British shipping firm, Peninsular and Oriental Steam Navigation Co., (P&O). In 2006, DTC Meridian was purchased by Shea Properties. Shea Properties, headquartered in Aliso Viejo, California, has annual revenues of more than $200 million, with a portfolio of properties valued at over $3.08 billion. Shea Properties currently owns and operates approximately 8,100 apartment units and 5 million square feet of office, industrial and retail space in California, Colorado and Arizona. The development pipeline holds an additional 2,200 apartment units and 2.5 million square feet of commercial space. In concert with sister company, Shea Homes, the nation's largest private home builder, Shea Properties offers a range of capabilities matched by few other developers in the industry.

The Shea Family Story

The history of the Shea family of companies began modestly enough in 1881 when founder John F. Shea established a small plumbing business in Portland, Oregon. From those humble beginnings his sons, and their sons after them, built the firm into one of the largest, privately held real estate development and construction companies in the nation. The company's legacy of milestone achievements includes the building of the diversion channels for the Hoover Dam, the foundations for the Golden Gate and Oakland Bay bridges, and the tunnels for San Francisco's Bay Area Rapid Transit (BART) system. From its roots in heavy construction, the firm diversified into a family of companies that currently includes JF Shea Construction, Shea Homes, Trilogy Resort Communities, Redding, Reed Manufacturing, Bluestar and Shea Properties.

Identifying Opportunities and Creating Value

One of the fastest-growing members of the JF Shea family of companies, Shea Properties took shape in 1977 and expanded over the years through a number of significant land and portfolio acquisitions. In 1997, Shea's commercial arm purchased the California-based Mission Viejo Company which included 900 acres of land in the Aliso Viejo area of Orange County and more than 22,000 acres of land in Highlands Ranch, Colorado. In 2006, the company established deeper roots in Colorado with the purchase of the highly regarded Denver Technological Center and Meridian International Business Center just outside of Denver. Currently, the company operates in Northern and Southern California, Colorado and Arizona.

Shea Properties is known for its unique approach to transforming land into premier living, working and shopping environments. By identifying the highest potential value and optimal use for any given property and applying a highly-focused development strategy, the company is able to use its diverse experience to create successful business and residential developments. The objective in everything Shea Properties does is to optimize land use and create long-term value for investors while improving the quality of life for those who reside, work and play in its communities.

Shea Properties manages all aspects of development from start to finish. Services include market analysis, site acquisition, entitlement, design, planning, financing, construction management, property management and asset management. The core areas of expertise include the following: office, industrial and retail properties, apartment communities and mixed-use development.