Bixby Land Co. has a new president and chief executive,William “Bill” Halford, the former head of The Irvine Company’s office division.
Halford replaces Terrance “Terry” Dickens, who is retiring after nine years at the helm of the company.
Bixby Land is a Long Beach-based development company that counts about 50 industrial properties in its Southern California portfolio, totaling about 3 million square feet.
The privately held company is relocating its headquarters to Newport Beach,to an office building owned by the Irvine Co. The move is expected to be done in May.
Halford left the Irvine Co. in early February, where he had been since 1994. He served as office president since 2001.
Along with the change in executives and headquarters, Bixby Land is readying itself to undergo a big change in strategy, Halford said.
Previously, Bixby Land steered clear of using debt and self-financed most of its projects. The result was a very strong balance sheet, but not too much development in the past 10 years.
Bixby Land plans to use joint ventures and debt to help the company’s portfolio grow more quickly, Halford said.
The company will stick with developing industrial and flex properties, and will focus on projects within an hour’s plane ride from Orange County, Halford said.
A number of deals are expected to be announced in the next few months, Halford said. The company also expects to grow its staff, now at about 20 people, and also could add a few members to its board.
Halford has family ties to Bixby Land, where he served on the board for 10 years. He is a fifth-generation Bixby.
Halford’s great-great-grandfather, Jotham Bixby, partnered with fellow sheep farmer James Irvine in the late 1800s to subdivide much of Southern California’s land for ranching and farming.
