THE EARLY YEARS
In 1955, Ralph Eaton founded Eaton International Corporation and his son, David, joined in 1968. Together, with over 200 employees, the Eaton’s spearheaded the development of large residential communities, business and office parks. In fact, Eaton International was the Arizona pioneer in the design and development of the modern-day office park. The company’s projects can still be seen throughout Arizona. One of Eaton International’s premier projects was the acquisition and development of the 26,000-acre Pagosa Springs community in Colorado. David Eaton operated the Eaton business until combining efforts with Jerry Colangelo and Mel Shultz to form JDM.
REAL ESTATE EXPANSION AND SPORTS OWNERSHIP
In 1983, Jerry Colangelo, David Eaton and Mel Shultz formed JDM Partners, a full-service real estate firm engaged in the development and management of quality real estate properties in Arizona and Colorado. In 1985, JDM purchased the Arizona assets of Eaton International Corporation.
JDM expanded in 1987 with the purchase of the Phoenix Suns NBA franchise, and under the direction of Jerry Colangelo, began its professional sports and entertainment portfolio known as JDM Sports. The creation of the Arizona Diamondbacks MLB franchise in 1995 expanded JDM’s portfolio along with the development, construction and operation of both team’s homes, the US Airways Center and Chase Field. JDM’s sports portfolio also included the WNBA Phoenix Mercury, the AFL Arizona Rattlers, Major League Tennis, Professional Soccer, and the 5,000-seat state-of-the-art Arizona Federal Theatre. JDM sold its interest in the Suns in 2004 and the Diamondbacks a year later, but continues to own the Arizona Federal Theatre.
While operating the professional sports teams, JDM continually grew its real estate business. In 1998 JDM purchased 286 acres close to Sky Harbor Airport in Phoenix, Arizona known as the Cotton Center. After design, entitlements, infrastructure development and marketing of the 3 million sq. ft. mixed-use development, JDM completed this major business park now home to several major companies. Jennifer Gray, JDM’s current Vice President and Broker, was the lead on the Cotton Center project through her role as Property Manager. In 2002, JDM purchased the 33,800-acre Douglas Ranch and in 2007 added the 3,000-acre Trillium property, making JDM one of the largest owners of entitled land in the State of Arizona. Owned by JDM and its joint venture partner, El Dorado Holdings, the land is currently master planned for a self-contained community of 119,000 residential units and 59 million sq. ft. of business and commercial space. JDM has a forty-year commitment to build out and manage this Buckeye, AZ (Phoenix MSA) community, which continues to create long-term opportunities for growing the JDM team in virtually every area of the real estate development, sales and management business.
JDM continues its 60-year history of real estate development, acquisition and management, with a lasting commitment to developing strong relationships with its investors, its tenants, and the communities in which it operates. The JDM team is comprised of experienced investment professionals that are proficient at identifying high performing, off-market, commercial real estate assets. Equally important, JDM builds relationships with its partners and business colleagues. JDM itself has been an owner and operator, a landlord and tenant, a buyer and seller. It’s with this unique history and knowledge of all components of a real estate project that the JDM team will continue to manage and develop its current assets, expand its portfolio and work together with our partners and colleagues to create successful projects and relationships.