MASTER DEVELOPMENT, INC (“MASDEV”) is a South Florida based retail development company. MASDEV, through affiliated limited liability companies, acquires, designs and develops or redevelops individual retail projects. MASDEV seeks to acquire “in-fill” development land parcels to meet the needs of the national retailers with which MASDEV has continuing relationships. MASDEV’s focus is to acquire vacant land in southeastern Florida.

 

MASDEV’s business plan contemplates co-developing properties with other retail developers which have existing development, leasing and property management infrastructures. MASDEV will be responsible for acquiring the respective properties, creating a development or redevelopment plan, designing the site plan and elevations for the project, obtaining the necessary entitlements from the local governmental agencies and finding anchor tenants for the development or redevelopment.

 

From February 2003 to April 2007, MASDEV acquired and redeveloped three properties in a joint venture with Konover & Associates South. These properties were sold in April 2007.

 

Since July 2005, MASDEV has acquired seven properties and has under contract several other properties to co-develop with Woolbright Development, Inc. The seven properties total approximately 1,000,000 square feet and are currently in various stages of construction and development. The additional properties under contract, totaling 1,200,000 square feet are in various stages of obtaining zoning approvals and tenant commitments.