KING'S REAL ESTATE & DEVELOPMENT COMPANY - Key Persons
Job Titles:
- Vice President of Operations
- VP of Operations
As VP of Operations, Dave is actively involved in the day-to-day performance of the company where he oversees property development projects from beginning through completion. He looks for new opportunities and seeks properties in which to invest and develop; actively seeks tenants and negotiates lease deals; and manages relationships between all parties involved, including local township supervisors, county commissioners, state governmental agencies, engineers, attorneys, and tenants.
Responsible for daily operations management and leasing, Dave takes pride in establishing close working relationships with his tenants. He maintains a business-friendly atmosphere by creating a complimentary mix of tenants at each location and strives for long-term occupancy rates, resulting in a mutually successful operation for tenant and owner. Completely, hands-on, Dave will change a light bulb, fix the plumbing or put out fires whenever necessary.
Previously, Dave was an airline captain for TWA and American Airlines, where he gained valuable managerial experience and honed his organizational skills and attention to detail. In his role as a pilot, Dave became an expert in managing people and resources -- from air traffic control dispatchers to airplane technicians and airline personnel to passengers who placed their trust in him on each flight.
In 2006, he made the decision to devote his energy full-time to Kings' growing real estate company and achieve a better family/work life balance. Dave's principles of preparedness and experience as an airline captain translate to the real estate business. Just as airline passengers placed their confidence in his knowledge and decision-making, stakeholders are can be assured in his ability to meet the highest level of expectations.
To prospective investors, he relays that Kings Management & Development Company is a family-owned, cautious, conservative company. The company's investment approach is slow, steady and methodical in order to limit risks to all involved with an opportunity for long-term gains.
Dave is a graduate of Embry-Riddle Aeronautical University, the world's largest, fully accredited university specializing in aviation and aerospace, in Daytona Beach, Florida. A Pennsylvania native, he attended Schuylkill Valley High School in Leesport, Pennsylvania.
An avid outdoorsmen, Dave enjoys Wyoming where he owns 15 horses and organizes trail rides, fishing trips, and guided hunting expeditions in search of elk, mule deer, bighorn sheep, and moose, to name a few.
Job Titles:
- Vice President of Finance
- VP of Finance
As VP of Finance, Jason provides leadership and coordination of the company's financial planning and accounting practices. He conducts financial analyses on all new projects to determine whether an investment is worthwhile; reviews pro-forma financial statements with current and projected figures; finds the best financing or re-financing options on all properties to deliver maximum financial return for owners and investors; and directs the overall transactional operations of the accounting department.
The company relies on Jason's recommendations to make informed decisions about buying or selling an asset. His conservative approach to borrowing compliments the company's long-term investment strategy, and he strives to maintain an internal standard of at least 30% equity in all projects. While this approach may have slowed growth at first, it has proven to be the right decision for a sustainable future. The goal is to protect capital while generating above-average returns and to build valuable commodities in the present while providing stability for tomorrow.
Jason helped build King's Development & Management Company from the ground up. Initially, the company began as a small family business, and he was able to wear many hats and learn all aspects of the business in all departments. In 1996, Jason began work as a property manager. Over the years, he assumed the role of bookkeeper, accountant and controller where he gained valuable skills, preparing him for his role as head of finance. He is proud to say that the company treats its investors and tenants like family members, and every dollar is cared for as if it were their own.
Jason graduated from LeTourneau University in Longview, Texas with a degree in Business Administration. He received his M.B.A. in Global Management from Thunderbird School of Global Management in Glendale, Arizona, a renowned school in international business education, now part of Arizona State University.
Presently, Jason splits his time between Texas and Wyoming, with monthly business trips back to Pennsylvania. Jason also owns and manages our Houston, Texas affiliate that develops real estate in the Houston area, utilizing the same principals and strength as investors to generate lucrative business returns for the company and its partners.
Jason enjoys spending time in the great outdoors with family and friends - hunting, fishing and biking are some of his favorite pastimes. As his children grow older, he looks forward to future travels with his wife. He and his family reside in Jackson, WY.
Jay King began working in the supermarket business when he was 27-years old. In 1970, he opened his first King's IGA location in Hamburg, Pennsylvania. By 1985, the company grew to include several full-service shopping centers and was incorporated under the name King's Supermarkets, Inc. Through hard work, key influencers and a great team of employees, King's Supermarkets was successful in generating annual sales of $100 million and providing over 1,000 jobs to our local economies.
The company's achievements can be attributed, in large part, to owning rather than leasing its locations. This allowed for the control necessary to create long-term value. By building shopping centers that offered complementary services to the supermarket, King's was able to better serve the local community, as well as establish a stable business environment. Through true hands-on experience, the company gained vital knowledge of the principles and benefits of creating synergy and attracting the proper tenant mix to a specific location. Although commonplace now, at the time, King's Supermarkets was on the cutting edge by integrating pharmacies, restaurants and gas stations into full-service supermarket locations.
In 1994, King's merged its supermarket operations with Weis Markets, one of the finest companies in the business. King's continued to retain ownership of its real estate and began developing new locations for Weis Markets. In order to manage a growing portfolio of properties, Jay founded King's Management and Development Company along with his two sons, Dave King and Jason King.
With over 40 years of experience, King's builds value through real estate. Each development deal is structured differently depending on a specific set of circumstances and, therefore, the company is able to customize an opportunity for investors, either long- or short-term. The principle of our business is simple, we build trust and help our tenants succeed and, as a result, our company succeeds, as well.
It is a great honor for Jay to work every day with his sons, Dave and Jason, and the excellent staff at King's Management & Development Company. With his sons, he intends to continue to grow and manage the company as a stable and well-trusted entity that provides value for investors, tenants and the community at large.
Jay has served on the advisory board of the Boy Scouts of America in Berks County, and he graduated from Schuylkill Valley High School in Leesport, Pennsylvania. He presently resides with his wife, Nadine, in Kempton, Pennsylvania.
King's Real Estate Management & Development is the culmination of over 40 years of real estate and business experience in eastern-central Pennsylvania. A family-owned company led by Jay H. King, Jr., King's started as a grocery retailer in 1970 with the opening of King's IGA in Hamburg, Pa. By 1985, the company grew to include several full-service shopping centers and was incorporated under the name King's Supermarkets, Inc. In 1994, King's merged its supermarket operations with Weis Markets and developed additional market locations for Weis, while retaining ownership of the real estate property. In 1996, Jay and his two sons, David and Jason, founded King's Management and Development Company to manage the company's growing portfolio of properties.
Job Titles:
- General Manager
- Vice President of Legal Affairs
An attorney by trade, Jerry serves as our general manager and provides professional in-house legal counsel to King's Real Estate Management & Development. He oversees most projects and handles the day-to-day management of all business contracts, site selections, property inspections, and lease negotiations. His knowledge of leasing is invaluable to our organization, and he is responsible for drafting and revising letters of intent, handling all aspects of the development and signing of all contracts.
Jerry has more than 30 years of experience in the solid waste management industry. He was a previous part owner of a company that manufactured solid waste handling equipment and, more recently, he served as a consultant and legal counselor to banks and companies within that industry, performing cost analyses and identifying ways to improve financial and inventory control.
Presently, Jerry sits on the executive board of the Boy Scouts of America in Berks County, Pennsylvania, where he is vice president on the Hawk Mountain Council. Out of 1.2 million Boy Scout volunteers, Jerry is proud to say he is one of only 1,200 individuals with a vote on the National Council of the Boys Scouts of America, one of the largest values-based youth organizations in the country.
Jerry received his B.A degree from Juniata College in Huntingdon, Pennsylvania, and his J.D. degree from Ohio Northern University in Ada, Ohio. He is currently in the process of attaining his real estate license. He and his family reside in Orwigsburg, Pennsylvania.
Nadine is responsible for the company's overall office administration and manages all day-to-day functions. She helps oversee accounting, banking and payroll procedures; handles all insurance requirements; and maintains office equipment and supplies. An effective communicator and troubleshooter, Nadine makes sure everyone is on the same page and keeps projects moving. If you have a question, she will put you in touch with the right person.
A graduate of Kutztown Area High School, Nadine has previous work experience in accounts payable and property and liability insurance. In her free time, she enjoys traveling, gardening and crocheting. She and her husband, Jay, reside in Kempton, Pennsylvania.
As controller, Richard is responsible for the day-to-day billing and accounting services for all commercial properties, handling accounts payables and receivables, water and sewer billings, common area maintenance (CAM) charges, and annual real estate tax reconciliations. He corresponds with tenants on lease renewals and is available to answer questions at any time. Conscientious and detail-oriented, Richard is an asset to the company and oversees the nuts and bolts of bookkeeping from the groundbreaking of new properties to the ongoing management of multiple commercial property locations to special company projects.
An accountant for 20 years, Richard has worked with King's Management & Development Company since 2011. Over the years, he has contracted with numerous companies to perform billing and accounting services for construction companies, auto body shops and a variety of other small businesses.
Richard received his degree from McCann School of Business and Technology in Reading, Pennsylvania. He and his wife reside in Shoemakersville, Pennsylvania, and are the proud owners of the Virginville Hotel in Virginville, Pennsylvania. He also volunteers his time at the Virginville Fire Company in Berks County.
Russell's role as maintenance supervisor includes property and facilities upkeep at all commercial locations - general maintenance, plumbing, electrical systems, alarm system testing, sprinkler system testing, and fire department inspections - to make sure everything is up-to-date and in compliance. He oversees the upkeep of all property landscaping and coordinates the work of all subcontractors. Russell makes sure everything is up to spec and up to company standards. He has a great working relationship with all tenants and is available around the clock, if there is an issue any time day or night.
Russell began his career at King's driving trucks and performing maintenance at King's supermarkets. Dependable, reliable and a family cousin, Russell has worked with his "uncle" Jay for more than 20 years.
Russell lives in Shoemakersville, Pennsylvania with his wife and two children. He likes to hunt and fish and is involved with Perry Township in Berks County, Pennsylvania as a volunteer.