Founded in 1919 by F. Orin Woodbury, the Woodbury Corp. has thrived through good times and hard times under the stewardship of his descendants.

On Monday, O. Randall Woodbury stepped down as CEO of the full-service real estate management and development company. After 11 years as CEO, he will now serve as vice chairman and continue as principal broker for the company. E. Taylor Woodbury was named the next CEO of the company,

“The past 11 years have been an incredible experience for me,” Randy Woodbury said. “The time has come for the next step in the executive leadership transition from the third generation of Woodburys to the fourth generation.”

While the fourth generation is taking on leadership, fifth generation Woodburys are in the wings, finishing school and preparing for their turn as future leaders in the multi-billion dollar company which has its fingerprints all across Utah County.

The company’s legacy project in Orem is University Place, formerly University Mall, originally built in the early 1970s.

In recent years, the company has gone through a $500 million revitalization of the mall to provide residences, office buildings and open green space in addition to shopping options.

In the past decade, Woodbury Corp. has endured and flourished through several major milestones and highlights including celebrating the company’s centennial anniversary in 2019 and the successful inception and management of Woodbury Capital Funds — including Woodbury Strategic Partners, Woodbury Capital II, III, Legacy and Opportunity Zone Funds — comprising approximately $600 million of investor commitments.

“I am really excited to keep working with family members, both my biological and corporate family, who give so much to this business. It’s an honor to be able to work with them and carry this company into the next 100 years,” Taylor Woodbury said.

Woodbury Corp. is currently working on large-scale projects in Utah County and across northern Utah including:

• Vineyard Station, Vineyard city’s first mixed-use, transit-oriented, walkable community. Located on the eastern shore of Utah Lake, Woodbury Corp. and Flagship Homes are currently developing nearly 300 acres of master-planned new development that will offer places to live, work, shop, dine and more, with a promenade running through the center of it leading to Utah Lake.
• The continued revitalization of University Place will include a hotel, more class-A office space and approximately 1,000 additional residential units.
• Continued development of Falcon Hill National Aerospace Research Park. Falcon Hill is one of the most strategically placed aerospace research parks in the nation at Hill Air Force Base in Davis and Weber Counties. This 550- acre private development is under an Air Force Enhanced Use Lease and currently has over 1.1 million square feet of commercial space.
• Holladay Hills, the redevelopment of the former Cottonwood Mall property. Holladay Hills is a 58-acre mixed-use project, which will include living and office space, along with dining, shopping and entertainment options and a central park for gatherings.
• Continued development of the University of Utah Research Park, including 500,000 square feet of existing research building and a new 260,000 square foot state-of-the-art laboratory building.

“We aren’t afraid to tackle a 20-year project. I know I can speak for my family when I say that we are committed to sticking with projects for the long-term to partner with the state and communities to achieve long-term success. I know I have projects I’ll be working on the rest of my career,” Taylor Woodbury said. “There aren’t many businesses that have the ability to say that.”

With $4 billion in assets under management, the Woodbury portfolio includes retail, office, hotel, residential and industrial projects across 16 states.

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