Bixby Land Company, a leading commercial real estate operator and investment manager in the Western U.S., has named Aaron Hill as president, extending a successful 11-year tenure at Bixby where he most recently served as executive vice president and chief operating officer. Bill Halford, who has served as president and chief executive officer since 2006, retains his CEO position and continues to lead the strategic vision and growth of the company.
The move is a natural progression for Hill, who as COO has overseen day-to-day operations with a focus on portfolio management for the 120-year-old, privately-held firm. Bixby has grown its investment portfolio of industrial and office properties to more than $1 billion, and has experienced significant year-over-year growth in shareholder value and dividend performance over the past several years.
“Aaron’s leadership and involvement in company operations has been at the highest level, and he is an integral member of our senior management team,” said Bill Halford, CEO of Bixby Land Company. “He knows every aspect of our business and the nuances of our investment philosophy, and is deserving of this opportunity to extend his leadership to all areas of company operations,” added Halford.
Bixby owns and operates a portfolio that includes 6 million square feet of office and industrial properties in the Western U.S. The firm has redesigned and developed over 30 buildings into creative work environments throughout California and in Oregon since 2010, and continues to grow its portfolio of leased industrial properties. The company most recently acquired West 10 Business Center in Phoenix, AZ for $9.5 million, has two more industrial buildings under contract and expects to purchase another $300 million to $400 million in industrial property over the next three to five years.
Bixby’s portfolio growth plans coincide with an expanding investment management business line, where the company seeks to broaden its investment reach through joint venture and separate account equity capital relationships.
“I am excited to fill a larger leadership role as we advance the Bixby Land Company legacy through the growth initiatives we have planned,” said Hill. “I look forward to working in this expanded role alongside our CEO Bill Halford, our board of directors and the entire staff to execute our strategic plan,” added Hill.
Hill’s new position as president will focus on implementing Bixby’s five-year strategic plan and oversee all operational facets of the company. Hill’s promotion enables CEO Bill Halford greater focus on leading the strategic direction of the company and building new equity joint venture and separate account relationships in support of investment portfolio growth.