Longtime legacy arrangement no longer fits with Doran’s growth strategy
Bloomington, MN – Doran Companies today announced it will no longer manage the Muir family’s retail holdings, marking the amicable end of a partnership that dates back to Doran Companies Founder and Principal Kelly Doran’s initial partnership with his longtime friend and mentor, the late Robert Muir. Doran Companies will be working with the Muir family to assure a smooth transition for the management of its three shopping centers to a new manager in the coming months.
“Robert Muir was a friend and mentor to me from a very early point in my career,” said Doran. “Managing his properties, including after his death, has been more about honoring that relationship than about the business itself.”
Doran Companies has managed the 1.8 million square feet retail portfolio for the Muir family for the past five years – including Woodbury Village and Tamarack Village in Woodbury and Rivertown Village in St. Cloud.
“As the ownership of Doran Companies evolves, we are focusing on growing our third-party architecture and construction business,” said Doran Companies President and CEO Anne Behrendt. “Managing a large shopping center portfolio is not part of our core business and we are committed to ensuring a smooth transition for the Muir family as they seek a new management organization.”
Many of the Doran Companies employees currently operating the Muir family’s shopping centers will be absorbed into Doran’s commercial and residential property management business. Any remaining will likely have an opportunity to stay with the properties under new management.