The CEO of MagnuM Opus can sum up his company’s philosophy in one simple sentence: “If MagnuM Opus is driven by the market and the market is changing, then so is MagnuM Opus.” The privately held corporation was formed in 1997 by local development partners Michael A. Panciro, CEO, and his wife, Maranda S.J. Chen, president. As a resident of Nevada for over 30 years, Panciro has a keen eye for the future development of the Las Vegas Valley. Together, he and Chen possess over 50 years of real estate experience. The two have worked side by side for more than a decade, and the direction and style of the company is greatly influenced by Chen’s Chinese heritage.
During the past year, MagnuM Opus added another expert to its team. Tom Tved, formerly a regional manager for United Construction, joined the company as principal and executive vice president of construction and development. With 30 years of construction experience, Tved is directly responsible for the new MagnuM Opus construction division. With the addition of Tved, the company has a total of six employees. Debbie Lancaster serves as construction administrator, Landon Christopherson is a certified civil engineer, and Piper Banuelos is administrator.
For a company that has been operating for less than 10 years, MagnuM Opus has been able to develop and/or manage an amazing array of projects, including residential townhomes in Las Vegas and a retail shopping mall in Denver, Colo. While the company also does work in the fields of real estate investment and asset management, it is most well known for its development of business parks. “We like creating a product that has a sustaining value,” said Panciro. “Business parks maintain, as well as increase in value over time.”
In the Las Vegas area, MagnuM Opus has developed a number of business parks. The Patrick Commerce Center is a 14-acre, 230,000-square-foot business park located at the southwest corner of Patrick Lane and McLeod. The Sunset Corporate Center and Sunset Corporate Retail Plaza is a 21-acre, 385,000-square-foot, mixed-use business park with a retail center located along East Sunset Road near Sunset Park. In addition, the company developed the MagnuM Distribution Center in the northeast part of the Valley, a 350,000-square-foot distribution warehouse facility on the corner of Cheyenne Avenue and Lamb Boulevard. It also developed the MagnuM Corporate Center, a 20-acre, 300,000-square-foot business park in Henderson.
“MagnuM Opus specializes in business park development that caters to the economic growth and diversification of Southern Nevada,” said Panciro. “We are honored to be the beneficiaries of numerous awards from trade organizations and the real estate community.” He added, “The direction of the company is driven by the market. To that end, we’re planning a mixed-use urban live/work environment in the rapidly growing area of the southwest Valley at the I-215 Beltway and the Sunset interchange. That region is going to be extremely desirable in the coming years.” When complete, the project will include retail office space, residential options, and a medical and professional office-lease product. It is scheduled to open its first phase of development in the third quarter of 2005. MagnuM Opus is also finalizing plans for public storage facilities in Henderson and other parts of the Valley.
“The Las Vegas market is growing, expanding and redefining itself,” said Panciro. “To survive, a company in this market, especially a development company, must do the same
