Caruso Affiliated Launches First Of Its Kind Strategic Development And Innovations Team

LOS ANGELES, June 30, 2016 /PRNewswire/ -- Caruso Affiliated, one of the largest, privately held real estate development companies in the U.S., announced today the launch of its Strategic Development and Innovations division, a first-of-its-kind for a real estate development company. Focusing on the future of technology and consumer mindset, the team will be responsible for integrating major technological innovations into Caruso's award-winning operating portfolio and development pipeline, including The Grove, recently named the #2 most productive U.S. shopping center by Green Street Advisors, based on traffic, quality of tenants and sales. 

In order for Caruso Affiliated to remain competitive tomorrow and to be the leader in understanding how people may experience daily life in the future, Strategic Development and Innovations will connect emerging technology, innovations and lifestyle trends to consumer behavior. These best-in-class innovations will ensure that Caruso Affiliated's high-quality portfolio of retail, residential, office and hospitality properties remains a compelling experience for guests.

Through collaborations and relationships with technology companies, online retailers, academia and global thought leaders, Caruso Affiliated will gain insight into future scenarios and potential business opportunities across organizational platforms and departments, along with the integration of technology to enhance the guest experience and ensure future strategies are implemented successfully.

Matt Middlebrook, executive vice president, development, will move into the role of executive vice president, strategic development and innovations, to lead this effort. He will report directly to Rick J. Caruso, founder and chief executive officer of Caruso Affiliated.

"We need to narrate the future by understanding tomorrow, today. In a world that is changing so rapidly, at a greater speed than any time in history, we need an executive focused on long-term thinking; one that is not consumed by the crisis of the week, and an executive who observes trends in a wider visionary perspective so we can tap into future emotional and spiritual lifestyles and consumer behavior to adapt it across our world-class portfolio. There is no other real estate development company that has dedicated resources to prepare for the long-term like this," said Caruso. "Middlebook's mission is to deepen Caruso Affiliated's understanding of current and future innovations and his skillset makes him ideal to lead this critical effort."

"Caruso Affiliated has always been a vanguard of retail thought-leadership and customer service, and fearless in our adaption of cutting-edge technology in our properties. I am excited to lead this division in identifying opportunities to collaborate with technology in bringing new and innovative guest experiences to Caruso Affiliated properties," said Middlebrook. 

Middlebrook joined Caruso Affiliated in 2004. In his new role, he will oversee the integration of technology and innovation into the consumer experience across Caruso properties. He also will lead real estate acquisition efforts, concentrating on retail, residential, office, and mixed-use spaces, while seeking ways to integrate future technologies into these acquisitions. He attended college at the University of California, Berkeley. 

For additional information about Caruso Affiliated: http://www.carusoaffiliated.com.

About Caruso Affiliated
Caruso Affiliated is one of the largest, privately held real estate development companies in the U.S.  All of its properties are distinguished by a unique combination of architectural and design excellence, an unparalleled guest experience and a dedication to serving the local community – transforming them into central gathering places for residents and tourists alike. Its premier retail, residential and mixed-use properties welcome millions of people annually, and two of its marquee properties, The Grove and The Americana at Brand, rank in Shopping Center Today's list of the top 15 shopping centers around the world, based on sales per square foot, 75% above the industry norm. The Grove also ranks as #2 on Fortune's 10 highest sales-generating shopping centers in the U.S. list.  In addition to The Grove and The Americana at Brand, and the luxury residential 8500 Burton Way, Caruso Affiliated develops, owns and manages a growing portfolio of world-class high-quality retail, mixed-use, and hospitality assets. Caruso Affiliated is currently investing more than one billion dollars in new projects, including a five-star beach-front resort in Montecito; a mixed-use luxury residential tower in the heart of Los Angeles; mixed-use dining, entertainment and retail collection in Pacific Palisades; and street-front retail in Glendale. In early 2016, Caruso Affiliated opened The Masonic Temple; a nine-story 1929 landmark Art-Deco building that has been meticulously revitalized to become Class A innovative office space. For more information, visit www.CarusoAffiliated.com.

SOURCE Caruso Affiliated

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