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Specht Development has promoted partner and long-term employee Brent Hedberg to president. He succeeds Greg Specht, who became president in 2020. Specht will continue to lead the company as CEO.

鈥淭he long success of our company stems from talented, committed team members who are dedicated to our mission,鈥� Specht stated in a news release. 鈥淚t makes sense that we鈥檇 find our next president right among our own team. Brent has risen through the ranks based on his superb skill sets and commitment to strong and effective leadership, which will now translate into his new role.鈥�

Hedberg, an Oregon State University alum, has spent his entire professional career with Specht Development. He began as a project manager in 2006 and worked his way up to vice president/partner in 2021.

Specht Development also has hired its first vice president of investments to further strengthen its commitment to acquisitions of real estate. Justin Dennett previously spent two decades with Morrison Street Capital.

Specht Development recently completed a four-year renovation of 224 Logistics Park in Milwaukie. After purchasing the property with more than 1 million square feet of space for $48.5 million, the company invested tens of millions of dollars to renovate and reposition it. The fully leased 62-acre property was sold for $120 million this past fall.

Specht Development was formed in 1992 as the development services arm for all related Specht entities and serves roles including advisor, buyer, seller, partner and developer.