Newman1

Rick Newman

He may not be a big name outside local real estate circles yet but Newman is quietly making a huge imprint on L.A.

As principal and senior vice president at Lowe Enterprises, the 35-year-old Newman is responsible for more than 2 million square feet of existing buildings and new developments throughout the L.A. area. He’s got office and industrial projects going in Calabasas, Santa Monica, downtown and at the Howard Hughes Center near Los Angeles International Airport.

While real estate investment trusts may be taking a break, privately held Lowe is stepping up its acquisition and development activities, bolstered by pension funds.

In all, Lowe has $225 million worth of development in the pipeline in Southern California. Lowe is also in discussions with Northrop Grumman Corp. to buy and develop 105 acres near the Hawthorne Airport.

On top of all that, Newman is scouting for even more development and acquisition opportunities in 1999. “We’d like to keep up the pace,” he says.