Triad Development started with a good concept – offer small- to medium-sized businesses a chance to own their own property in Summerlin (which would be a first), create a debt service for owners that would be comparable to existing rental fees in Summerlin, and develop a consistent look that would be compatible with other area businesses. After less than a year, the Triad vision is being achieved. According to Triad’s managing director, Daniel E. Otter, “We are very pleased with the activity so far this year. By the end of the first six months, 50 percent of the lots were already sold. We are attracting the kind of users we had originally hoped to attract.”
The Hills Center Business Park at Summerlin, a 9.42-acre exclusive development, is located in the north portion of Summerlin in the Village Center Circle between Town Center Drive and Hills Center Drive. Summerlin Parkway is just south, with easy access to the new Las Vegas Beltway and I-95. The new project is next to the Trails Village Shopping Center, as well as the Summerlin Library and Performing Arts Center.
Triad is scheduled to break ground on Phase II of the business park in fall 2002. This 12.86-acre parcel originally was designated for apartment use. The developer worked in conjunction with homeowners at Eagle Hills and Country Club Hills, the Las Vegas Planning Commission, the Las Vegas City Council and The Howard Hughes Corporation to gain approval of a major modification to the Summerlin Land Use Plan allowing for the parcel to be used for professional offices and restaurants. “It was a ‘win-win’ experience for everyone involved, and we are excited about the opportunity,” said Otter. The developer is currently analyzing alternatives for the parcel, including for-sale and for-lease professional offices and a restaurant.
Triad Development is owned and operated by some of the leading names in Las Vegas development, and headed by Mark L. Fine, a real estate developer who has specialized in master-planned residential communities as well as commercial properties for the past 25 years. His development accomplishments include the best-selling Summerlin and Green Valley master-planned communities. Most recently, Fine completed Park Towers with partners Irwin Molasky and Steve Wynn.
J. Christopher Stuhmer, founder of Christopher Homes, a Las Vegas-based high-end custom homebuilder, is also a principal with Triad. Stuhmer has been active in the Las Vegas real estate and construction industry since 1979, and is responsible for the development of many of the area’s most notable subdivisions.
Principal Scott A. Godino, a 20-year commercial development veteran, represents retail tenants throughout the West and serves as the exclusive broker for Circuit City. Godino is also the founder of the Equity group, which has approximately 2 million square feet of shopping center space under management.
Daniel E. Otter, managing director of Triad Development, has been the principal of Sierra Development Group for the past 20 years, developing industrial and retail projects throughout northern and southern California. He is responsible for the day-to-day operations of Triad Development including Phase I and Phase II development of Hills Center Business Park at Summerlin.
The youngest member of the team, recently promoted to sales and finance associate, is Douglas L. Crook. Crook has been with Triad Development since 1997 and specializes in sales and marketing for Hills Center Business Park at Summerlin. Additionally, he is responsible for financial analysis, banking relations and raising capital.
