John Phair, who has served as president and CEO of South Bend-based Holladay Properties the past 20 years, is stepping down from the post.
Phair now will serve as chairman and chief development officer, the company said. Tim Healy, the company’s chief operating officer, will take over as president and CEO.
“Three years ago, I announced a five-year plan to slow down and develop a succession plan for Holladay, which I am following,” Phair said. “Tim Healy will be taking over the role of president, and I am positive that he will do an amazing job and continue the vision of making Holladay a 100-year-old company.”
Holladay Properties is a land development, design/build, real estate company, and medical office and property management firm. The company was launched in 1952 as Grant-Holladay Construction Group, which was founded by Wallace Holladay and Norbert Grant.
It has developed more than 20 million square feet of commercial space and actively manages more than 10.6 million square feet of office, industrial, retail, multi-family, hotel, and healthcare space. The firm employs more than 230 people spread across 30 locations mostly in the eastern half of the U.S.
Holladay has developed many properties in Northwest Indiana including the 351-acre AmeriPlex at the Crossroads business park in Merrillville, The Haskell Building in Michigan City and The Fullerton Building in Portage.
In his new role Phair will oversee new real estate development activity – including renovations, ground up development, or substantial rehabilitations. Holladay has focused on the firm’s development side of the business with $100 million in projects planned during the next two years.
“I love the development side of the business and am looking forward to making that my priority,” Phair said. “It’s a major change in my five-year journey.”
Healy has been with Holladay Properties for 20 years and led the company’s Portage office the past 17 years. In 2017, he became COO, and oversaw the firm’s human resources, benefits, information technology, and capital management units.
“For the past 20 years John Phair has been my friend partner and mentor and he has had a profound effect on me. I want to thank him so much for that,” said Healy. “I am excited to carry on John’s legacy and the Holladay legacy.”