Carson Companies is a developer and long-term owner of industrial real estate with property management, asset management, leasing, construction management and development capabilities. The portfolio of properties owned exceeds 20 million square feet and is located in major labor and distribution hubs throughout California, Texas, New Jersey and Pennsylvania.
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King Carlos III of Spain (pictured) grants Juan José Domínguez a ±75,000 acre tract of land in the Los Angeles area close to the Bay of San Pedro.
Mexican government takes over Spanish control of Alta California. Governor Sóla receives a second request from Cristóbal, a survey of the land is executed, and the re-grant of the Rancho is issued with provisions on December 31, 1822. It was recorded at the City Council of Los Angeles on February 8, 1823
Manuel Domínguez moves into the new home on the Rancho, marries María Engracia de Cota in an elaborate ceremony, and as the oldest son and executor of his father’s will, assumes the role of principle manager of the land. It is due to Manuel’s shrewd management and clever guidance that Rancho San Pedro would be granted the first U.S. land patent in California and remain in the hands of the Domínguez heirs to this day
While battling several parties over the use and occupation of the Rancho San Pedro and with the official title of the land still in doubt, Manuel Domínguez also works steadily to expand his political career. He is elected Mayor (Alcalde) and Judge of the First Instance for the City (Pueblo) of Los Angeles at the age of 29.
Manuel Domínguez moves into the new home on the Rancho, marries María Engracia de Cota in an elaborate ceremony, and as the oldest son and executor of his father’s will, assumes the role of principle manager of the land. It is due to Manuel’s shrewd management and clever guidance that Rancho San Pedro would be granted the first U.S. land patent in California and remain in the hands of the Domínguez heirs to this day.
The Battle of Domínguez Hill otherwise known as “The Battle of the Old Woman’s Gun” occurred north of Domínguez Hill. American troops occupied the land for two days and a battle ensued with the Californian natives. Manuel stayed neutral and commanded respect for his years of public service from both the Mexican and American governments
California was acquired by the United States under the terms of the 1848 Treaty of Guadalupe Hidalgo following the defeat of Mexico in the Mexican–American War. Manuel Domínguez was one of seven delegates elected from Los Angeles to attend the First Constitutional Convention in California, where he and 47 other delegates from throughout the state signed California’s State Constitution.
George Carson arrives in Los Angeles after completing an expedition from New Mexico to California (well over 1,100 miles) with a large herd of sheep, limited supplies, and overcoming many obstacles. A man with great ambition and determination, only few before him traveled the length and route he did and survived. Born in Jordan, New York, he moved to St. Charles, Chicago at age 12, joined and served in the United States military until the war with Mexico ended in 1848.
Official registration of the brand of Manuel Domínguez is recorded.
George Carson jointly owns a hardware business, becomes actively involved in local politics, being elected to the City Council of Los Angeles at the age of 28. He also meets and marries María Victoria Domínguez, Manuel’s fourth daughter. The following year, he is appointed to the office of Public Administrator for Los Angeles County - a position he holds for eight years consecutively and again from 1870-1873.
A formal U.S. Patent of Title signed by President James Buchanan awards Manuel and eleven other Domínguez heirs official owners of Rancho San Pedro providing a clear confirmation of ownership after many years of legal and family disputes. Preceded by a lengthy and disputed survey, the final amount of land recognized is 43,119.13 acres. The share directly owned by Manuel was slightly less than 26,000 acres. It was the very first patent of title given among over 70 claims of Spanish and Mexican land grants in California.
George sells his local business, devotes his full attention to the management of the Rancho, and moves with Victoria to the Rancho with their first two children. He becomes chief assistant to Manuel overseeing all ranch affairs. His role will continue after the death of Manuel. George fully concurs with his father-in-law’s policy of staying out of debt and holding on to the land for future development. Shortly after their arrival, John Manuel is born. He is the first boy and child of the couple’s to be born on the Rancho.
Manuel Domínguez passes away at home just shy of 80 years old. His wife, María Engracia Cota de Domínguez dies five months later. Bishop Francisco Mora was originally entrusted with the will, however, he had been called back to Spain, therefore, George Carson is appointed executor by a Superior Court Judge. A two-year legal battle ensues over the exact partition of the Rancho San Pedro among the six daughters and a re-appraisal of the land is ordered. Slightly over 24,000 acres remain with a net worth of $167,436.34.
After the oldest sister, Ana Josefa de Guyer passes, the family forms and incorporates the Domínguez Estate Company. The corporation allows them to manage the estate which has increased to a market value of over one million dollars. She wills equal shares to her five sisters.
The Carson Estate Company is formally incorporated to hold the Domínguez-Carson family assets intact. Victoria Domínguez de Carson heads up the company as President and her children are Directors, including her son-in- law, H.H. Cotton, who is elected secretary. The primary intention is to raise money through leasing and sale of land to acquire additional real estate. The Carson’s holdings of real property was 3,549 acres at that time.
The Carson Estate Company signs first oil leases in 1916 for exploration and a vast oil field is discovered on Domínguez Hill in 1921. Union Oil Company leased a great portion of land in 1923 and eventually, they are operating over 350 wells spanning over 1,200 acres. As President since his mother’s passing, John Manuel continues to pursue oil and water production. In 1926, the Company sells a portion of land for petroleum refining and industrial development.
The Carson Estate Company began its first active real estate development with the participation in the construction of a 10-story office building at 5410 Wilshire Boulevard in downtown Los Angeles.
With the oil wells slow in production, the Domínguez Estate Company liquidates its assets after negotiating the largest real estate transaction in the history of Southern California at this time. The Company sells over 1,600 acres of the original Domínguez land grant for $58,500,000.
The citizens vote between naming the unincorporated area in which they live either Domínguez or Carson. While both names are those of early pioneers that are significant to the history of the area, by a narrow margin of 318 votes, the City of Carson becomes the name of the official 77th incorporated city of Los Angeles County. This city, along with many other surrounding cities, currently were among the original land grant.
The Carson Estate Company begins its own development of a 438-acre, master- planned industrial business park, Domínguez Technology Center, the last vestige of the Company’s Domínguez Hill properties.
The development of Homestead Business Park commenced with the construction of six industrial buildings on the land where the original Carson Family home stood until 1969.
The Domínguez Water Company, of which the Carson Estate Trust owns 20 percent of, is merged into California Water Company, the largest water company in the west. The Company receives 424,000 shares of the California Water Company’s stock and retains it to this day.
The Carson Companies expands its capital base by entering into its first joint venture with CIGNA, a large insurance company. By augmenting the Company’s capital with that of its partners, the Company sets off on a rapid expansion program.
The Carson Companies begins development of Chino South Business Park where it builds more than 3.7 million square feet of Class A industrial space with joint venture partners. By 2004, the demand for the Company’s premier industrial buildings are at an all time high. The buildings are architecturally attractive and have state-of-the-art warehousing, distribution and light manufacturing facilities.
The Carson Companies expands into Houston, Texas. Houston appears to be counter cyclical to Southern California and benefits from the resurgence of the energy business in the United States. The Company hires its first employee in Houston and opens an office. Expanding into Houston allows the Company to diversify its risk of being concentrated in one market.
The Carson Companies celebrates its 100th Anniversary. The vast majority of the Company is still owned by direct descendants of George and Victoria Carson who, through the Board of Trustees-mostly made up of family descendants-guide the Company into the future. The Company now owns more than 12 million square feet with approximately 8 million square feet in Southern California and 4 million square feet in Houston, TX. The dividend per share in 2013 has increased to $16.10. The gross value of the real estate assets of the Company exceeds $1 billion.
President
Jim sets the strategic direction of the Company and has hands-on involvement in every activity to ensure that the Company’s goals are achieved. He is a member of Carson’s Board of Trustees. Prior to joining the Company in 1999 as President, he was a Managing Director with AEW Capital Management, L.P. where he initiated and managed real estate investment ventures totaling over $3 billion. Prior to AEW, he was with Arthur Young & Company in Boston. Jim has more than 35 years of real estate experience. He is a graduate of the University of Massachusetts, Amherst with a degree in accounting and is a Certified Public Accountant.
Managing Director, CFO
John is the Company’s Chief Financial Officer and oversees all accounting, financial reporting and risk management activities. In addition, John is involved with structuring our institutional partnerships. He has arranged in excess of $900 million of permanent, construction and revolving debt facilities on behalf of the Company. Prior to joining the Company, he was in the auditing and consulting departments of Kenneth Leventhal & Company in Los Angeles, and with Pacific Atlas Development Company, a Japanese-owned real estate developer. John has more than 35 years of real estate and accounting experience. He joined the Company in 1997 as Vice President, Controller and was promoted to his current position in 2001. John graduated from the University of Southern California and is a Certified Public Accountant.
Managing Director, Southern California
Todd is responsible for overseeing the Company’s $2.8 Billion Southern California portfolio and operations, including acquisitions, leasing and development, and has also lent his development and leasing expertise to multiple Company projects in Pennsylvania, New Jersey and Texas over the years. Prior to joining the Company in 2007 he was a Vice President and Market Officer for Prologis, handling Southern California’s Inland Empire market, and before that was an Associate Director at Cushman & Wakefield. Todd received a B.A. from UCLA and a J.D. from Santa Clara University School of Law. He is a licensed real estate broker in the State of California and is active in both the So Cal and Inland Empire chapters of NAIOP.
Managing Director, Asset Management
Eddie joined the Company in 2001 and has served as Vice President of Property Management since 2009. In his role as Vice President, he leads the property management team and oversees the overall performance and tenant relations for the Company’s wholly owned assets as well as its institutional partners’ real estate portfolios. Eddie was previously with The Merit Companies and has more than two decades of experience in real estate property management. He is a graduate of California State University, Fullerton and is a member of the Institute of Real Estate Management (IREM).
Vice President, Controller
Boyd is responsible for Carson’s accounting function including property and corporate accounting, financial reporting and compliance, fund reporting, budgeting and financial controls. Boyd holds a B.S. degree from the University of the Pacific, an M.B.A. from the University of Southern California and is a Certified Public Accountant.
Managing Director and Chief Investment Officer, Texas
Dan is based in the Houston office and is responsible for overseeing all of the Company’s new investments including acquisitions, development and build-to-suit projects. He works with Carson’s regional teams to identify and execute the most compelling investments available. In addition, he oversees the Houston portfolio including acquisitions, leasing, and development. He has sourced and executed over 7M SF of Class A Industrial developments with an aggregate value exceeding $1B. He holds a B.A. in Economics from the University of Texas, is a Texas licensed real estate broker and active in a ULI Product Council and NAIOP.
Managing Director, Portfolio Management
Dan is based in the Newport Beach office and is responsible for separate account and portfolio management. He has overseen Carson’s institutional joint venture program that has grow from one partnership with $100 M AUM to six partnerships with $900M AUM. Dan has also acquired, entitled and developed over 500K SF of Class A Industrial development in Southern California with an aggregate value exceeding $120M. He holds a B.S. in business administration from the University of Southern California, is a member of NAIOP and graduated from its Young Professionals Group.
Managing Director, Northeast Region
Chris is based in the Philadelphia office and is responsible for sourcing and executing the Company’s new investments including acquisitions, development and build-to-suit projects in the Northeast. Since joining Carson in 2015, he has sourced and executed over 4.7M SF of industrial real estate developments and acquisitions with an aggregate value exceeding $700MM. He holds a B.S. in Finance and M.B.A. from Georgetown University and is a member of the Steering Committee at the Steers Center for Global Real Estate at Georgetown University.