Williamsville, N.Y. (WKBW release) -- Ciminelli Real Estate Corp., one of Western New York’s leading full-service real-estate developers and managers, announced Thursday that Dennis M. Penman is joining the company as executive vice president and principal.
Penman’s first day with Ciminelli Real Estate is Jan. 3, 2012. In his role at Ciminelli, Penman will be responsible for seeking new real estate development opportunities in the Western New York market. Ciminelli has a portfolio of more than 9 million square feet of commercial space managed or developed. With offices in New York, Florida, Pennsylvania and Connecticut, its team of more than 120 dedicated professionals continues to build on its 30-year track record of success. Company President Paul Ciminelli said Penman is a perfect fit for his company because of the depth of experience he brings to the task.
“Dennis has an impeccable reputation as one of the most highly respected members of our real-estate development community,” said Ciminelli. “He knows what works here and how to get it done. He will be a tremendous addition to our team and a valuable asset to our company.”
Ciminelli explained that Penman’s focus on Western New York development opportunities will allow other key personnel to spend more time growing the company’s client services in the Pennsylvania, Florida and Connecticut markets, a key strategy Ciminelli outlined last year. Penman has been executive vice president of MJ Peterson Corp., of Amherst. He will officially resign from that position at the end of 2011.
During Penman’s long career with Peterson – spanning some 40 years – he helped expand the residential real estate company’s interests to include commercial real estate and property management services.
“Dennis has worked here through four generations of our family and has helped us grow our business exponentially,” said Victor L. Peterson, chairman of MJ Peterson. “Of course we are sad to see him go, but wish him nothing but great success in his endeavors at Ciminelli.”
Penman also serves as vice chairman of the Buffalo Urban Development Corp. board of directors; is on the executive committee of the board of directors of the Buffalo Niagara Partnership; and serves as interim president of the Buffalo Economic Renaissance Corp. He is also the former chair of the Erie County Industrial Development Agency.
“This is an exciting and challenging ‘encore career’ move for me,” Penman said. “I’ve worked a long time mostly on the residential side of development and I’m motivated to work with Paul and his team on the commercial side. I know the market, I know the region and I know the players and developers in Western New York. This is a great opportunity and I want to thank the Peterson family for 40 great years, as well as the understanding that this is a good move for all.”