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Denholtz Properties’ CEO Steven Denholtz and President Stephen Cassidy Named to NJBIZ 2020 Real Estate Power 50 List

Denholtz Properties announces that CEO Steven Denholtz and President Stephen Cassidy have been named to the NJBIZ 2020 Real Estate Power 50 list, which annually recognizes New Jersey’s most influential real estate executives and municipal leaders for their vision and leadership.

This marks the second consecutive inclusion for Steven Denholtz, whose transformative leadership has guided the growth of Denholtz Properties. Stephen Cassidy, honored for the first time, is celebrated for his strategic focus on unlocking value in both mature and emerging markets, particularly through the firm’s growing investments in the southeastern United States.

Under Steven Denholtz’s leadership since 1983, Denholtz Properties has become one of New Jersey’s top real estate development and investment companies. With the addition of Cassidy nearly two decades ago, the company has seen notable expansion in its portfolio and operational capabilities. Together, Denholtz and Cassidy have leveraged creativity and innovation to find value in a crowded market, successfully managing a diverse portfolio of development, redevelopment, and value-add projects.

Today, Denholtz Properties employs over 60 professionals and manages a 4.2 million-square-foot portfolio that spans multitenant office, multifamily, retail, industrial, and flex spaces across New Jersey, Pennsylvania, and Florida. This growth led to the opening of a second headquarters in Orlando in 2020, enhancing the firm’s ability to oversee its expanding Florida portfolio and capitalize on new opportunities in the southeastern U.S. Throughout this rapid expansion, Denholtz and Cassidy have remained committed to building a resilient, risk-averse financial foundation to navigate economic cycles.

Beyond their impact on the company, Denholtz Properties has played a central role in the redevelopment of Red Bank, particularly the west side. In 2019, the firm relocated to 116 Chestnut Street, rebranding from Denholtz Associates to Denholtz Properties. Under Denholtz and Cassidy’s leadership, the firm began construction on The Rail @ Red Bank, a mixed-use project near the Red Bank train station, which is set to boost the neighborhood’s economy and vibrancy upon its completion in 2021.

In a recent acquisition, Denholtz Properties secured a 26-acre redevelopment site at Fort Monmouth in Oceanport, N.J., with plans to create a dynamic economic hub featuring flexible office and tech spaces alongside innovative food and beverage options. This project, slated to begin next year, aims to revitalize the area and attract a variety of businesses to Monmouth County.

Cassidy has been instrumental in adopting real estate technology at Denholtz Properties, implementing platforms such as Yardi, VTS, ProCore, SharePoint, and Power BI to optimize efficiency and profitability. His efforts also include expanding the firm’s presence in southeastern markets and enhancing investor engagement through platforms like CrowdStreet.

“Great leaders are defined by how they prepare companies to weather periods of uncertainty,” said Greg Brown, COO of Denholtz Properties. “With Steve and Stephen at the helm, Denholtz Properties is well-positioned to navigate the challenges of COVID-19 and pursue new opportunities across the country. This honor is a testament to their vision and leadership.”

Steven Denholtz also serves on several boards, including the New Jersey Economic Development Authority, Jersey Shore Hospital, and Meridian Health Affiliated Foundations, and he is involved with the Kislak Real Estate Institute at Monmouth University. Cassidy is a Certified Public Accountant and a member of several industry associations, including the New Jersey Society of CPAs and the Rutgers Center for Real Estate Advisory Committee.

Denholtz and Cassidy are also committed to community philanthropy. The firm supports Monmouth University’s Students for Sober Living and Open Heart Yoga in Red Bank, where they sponsor free classes for the community. They also actively support the Red Bank arts community, commissioning a mural by local artist Kathleen Palmieri and sponsoring organizations such as Two River Theater and Count Basie Center for the Arts.

Additionally, Denholtz Properties hosts Popcorn for the People, a non-profit supporting employment for adults with autism, at their Piscataway Corporate Center. The firm also partners with local Red Bank non-profits, including Lunch Break and JBJ Soul Kitchen, participating in school supplies collections and food drives to aid the community.

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