COO Peddicord Prepares to Bid Adieu to Arden
- Aug 08, 2008
After 11 years with Los Angeles-based real estate concern Arden Realty Inc., chief operating officer Robert Peddicord (pictured) has announced his resignation. “I think at this point in time, I’ve done all that I can do at Arden, and as they head into a national platform and investment management, the company is in good hands, so it felt it was a good time to go,” Peddicord told CPN. During his tenure at Arden, Peddicord moved from his first position of leasing manager up to COO upon General Electric acquisition of the company in May 2006. He will leave Arden having played a pivotal role in its expansion beyond Southern California into Northern California, as well as Phoenix, Portland, Seattle and Salt Lake City. His accomplishments, however, extend well beyond the company’s entrée into new markets. “What I am most proud of, first and foremost, is building an incredible management team that I think has one of the best reputations in the industry,” Peddicord said. “Also, we built an organization that’s highly recognized and respected throughout the industry. There’s a lot of integrity. People want to do business with us because of who we are and how we do business.” Peddicord has not revealed specific plans for the future, and while he is moving on from Arden, he is not getting out of the real estate business. “The market is going to head into recovery in the next year or year-and-a-half, and I want to be a part of that recovery,” he said. “I’ll definitely be staying in real estate, and hopefully I’ll be part of the Southern California market, but you nev er know.” Peddicord will stay with Arden through September to assist Southern California’s largest landlords. The company’s portfolio consists of 220 buildings encompassing an aggregate 13.3 million square feet of predominantly office space in core markets in California, Arizona, Oregon, Utah and Washington. On August 5, Arden announced that it would increase its presence beyond the West Coast by going national.