Elevated Property Company
Elevated Property Company is the newest, and most experienced, retail and mixed use development company in the InterMountain West. Our senior leadership team, with over 125 years of experience in the industry, has been principally involved in creating some of the most successful and welcoming retail and mixed-use properties in the western United States, including Mountain View Village, Station Park, The Village at Meridian and many other best in class projects.
Each of our projects are designed to elevate the shopping and entertainment experience, and to apply the best practices in the industry to ensure that our tenant mix, environment, architecture, landscaping and public spaces combine to create the finest experiences for our customers, tenants, neighbors and all those who work and play in the communities we serve.
Elevated Property Company was founded by Fred Bruning, Sean Dennison, Chris Byers and a joint venture with Tahri Molifua (Co-Managing Director & President of Real Estate for BV) www.ballventures.com and Dr. Tommy Ahlquist (CEO Ahlquist) www.ahlquistdev.com. This strategic partnership has created an incredible opportunity to be the regions largest commercial real estate development alliance that focuses on best-in-class projects across all asset classes.
Who We Are
Fred Bruning
CEO
Fred Bruning began his career in the shopping center industry as real estate counsel and territorial real estate director of Sears, during which time he managed Sears real estate portfolio and expansion plans throughout the western United States. Following a successful six years at Sears, he joined several development companies to broaden his development experience, including the Torrance Company, John Price Development Company and the Alexander Haagen Company, where he was the principal development officer of over 45 major projects. Fred was also instrumental in taking the Alexander Haagen Company public, serving as Chief Investment Officer and Wall Street spokesperson.
In 1998, Fred was one of two principals founding CenterOak Properties, a venture partnership with Oaktree Capital. In 2005, CenterOak Properties became CenterCal Properties, as a new venture was formed to provide additional growth potential for the platform. Fred served as President, Chief Executive Officer and finally Chairman of CenterCal Properties, and successfully completed several billion dollars of new development transactions.
Having taken a retirement from CenterCal, Fred decided to continue the path of successful development in the Intermountain West. Alongside a group of senior and very talented executives, a new venture was formed with Ball Ventures and Ball Ventures Ahlquist, two companies with very deep roots in the Intermountain West, both very well known for the quality and success of their commercial developments.
Fred is married to Brandace, the love of his life, and offices in Palos Verdes Estates, California. His hobbies include archaeology, history and flying his antique Stearman biplane. Fred is a member of the California Bar Association, ICSC and ULI, and has served on several commercial and charitable boards.
Tahri Molifua
Co-Managing Director & President of Real Estate for BV
Tahri began serving as Co-Managing Director of Ball Ventures in 2024, while continuing his duties as President of Real Estate.
As President of Real Estate, Tahri leads many of the programmatic real estate joint ventures that Ball Ventures has by providing strategic leadership and capital allocation to help grow the business pursuits of each partnership.
Tahri joined Ball Ventures in 2012 to lead the asset management functions for the company’s real estate holdings, including business plan development, financial analytics, and building the NOI for the portfolio.
Prior to joining Ball Ventures, Tahri worked in for groups specializing in construction, real estate management and land entitlement.
Tahri also helped launch Ball Ventures’ real estate fund, a discretionary closed-end $150 million fund with a concentration of opportunistic investments across a variety of asset types. This investment vehicle complements the mission of Ball Ventures’ partnerships through the capitalization of the best opportunities within the network.
Tahri is a graduate of Brigham Young University, Idaho with a Bachelor of Science degree in Communications, and holds a Master’s degree in Real Estate from Cornell University.
Tommy Ahlquist
CEO of Ahlquist
Tommy Ahlquist is a visionary who combines a strong work ethic with a keen ability to seize opportunities and turn them into successful ventures. Starting as a teenage entrepreneur, he worked his way through medical school and a residency in emergency medicine while building a career that spanned 18 years in the ER, treating over 45,000 patients. Alongside his medical practice, Tommy founded Stat Pads in 2001 to revolutionize defibrillation services, and Ahlquist Development in 2004, which transformed cities across Idaho with its innovative projects.
With more than 3.5 million square feet developed and a total value north of 1.6 billion, Ahlquist Development has shattered expectations. Notable projects include Eagle View Landing, home of Idaho’s first TopGolf, Ten Mile Crossing, Pioneer Crossing, Eighth and Main, City Center Plaza and dozens of other sites and buildings.
“I’m often asked what my most memorable project or building is,” says Tommy. “My immediate answer is always this: the next one. The joy is in the process! We create places for people to work and spaces for families to live and play. What’s most rewarding is creating, building and delivering new areas for our community to thrive.”
Chris C. Byers
Co-President & Chief Revenue Officer
Chris C. Byers is the Co-President and the Chief Revenue Officer of Elevated Property Company, LLC. In this role, Chris leads the leasing efforts of the portfolio and is responsible for tenant relations. In addition, with her two other founding partners, she is involved in all aspects of the company, with an emphasis on acquisitions, and development. Prior to founding Elevated, Chris was at CenterCal Properties, LLC for 13 years where she led the leasing efforts of the entire portfolio as its Senior Vice President of Leasing. In this role Chris played a critical role in leasing the portfolio to over 95% leased, and was involved in the development of 6 new, ground up mixed-use projects from inception to opening by creating the initial merchandising plans through lease up. These developments quickly have become the premier destinations in their respective markets and have changed the way each market trades. Before joining CenterCal Properties, LLC, Chris spent most of her career on the retailer side of the business representing national retailers and creating growth strategies for many of the top retailers in the United States. She has been in the industry for over 30 years and brings an interesting viewpoint to the creation of the projects in the portfolio. Chris has worked for notable companies such as Chico’s, Coldwater Creek, JP Realty and more. Chris is a Utah native and attended the University of Utah.
Chris has been a member of ICSC for over 30 years and lives in Salt Lake City with her husband, Mark Norseth. She is a proud mother to two great children, Jake and Lexie, and bonus stepson, Travis. Chris spends her free time doing yoga, playing golf, and loves to travel with her family.
Sean Dennison
Co-President | Chief Operating Officer
Sean Dennison is the Co-President and the Chief Operating Officer of Elevated Property Company, LLC. In this role, he handles the daily business and legal functions of the organization and, along with his two other founding partners, the executive functions related to the projects of the organization, which include acquisition, leasing, development and financing. Immediately prior to founding Elevated, Sean was at CenterCal Properties, LLC for almost a decade as its Senior Vice President and General Counsel and was responsible for oversight of the company’s legal matters, ranging from the negotiation and documentation of transactions to dispute resolution. Before joining CenterCal Properties, LLC, he served for over five years as Senior Regional Counsel for the Western Region of Federal Realty Investment Trust. Prior to that, Sean held senior roles at Stanbery Development, The Gap, Inc. and The Lerner Corporation. Immediately upon graduation from law school, he was an associate in the real estate group at ShawPittman LLP (now Pillsbury Winthrop ShawPittman).
Sean is a member of the ICSC Law Conference Planning Committee, an elected fellow of the American College of Real Estate Lawyers (ACREL), a magna cum laude graduate of Virginia Commonwealth University and the University of Pennsylvania Law School.
Sean lives in Hermosa Beach with his wife (Conni), son (Billy), daughter (Alex), Labrador (Lucy) and cats (Charlie and Panther)
Sean Harty
Vice President, Acquisitions
Monica Wallace
Director of Operations and Lease Administration
Monica Wallace is the Director of Operations and Lease Administration for Elevated Property Company, LLC. With over 20 years of experience in lease management for office and retail properties, Monica brings excellent organizational and management skills to the table. She is dedicated to directing company operations in a growth-minded organization, ensuring that the day-to-day processes at Elevated run efficiently and without error.
Prior to joining Elevated Property Company, she was the Senior Project Manager at CenterCal Properties, LLC. In this role, she was a critical part of the team that leased over 3 million square feet of premier retail and office space, as well as spearheading several initiatives: including the consolidation of resources for increased efficiency.
Known for her interdisciplinary approach to management and directorship, Monica assists in all aspects of company operations, from property management to executive decision-making. Her ability to quickly assess situations and develop effective solutions has contributed to the company's net growth and has fostered a welcoming environment for both employees and clients.
Monica is a consummate professional whose commitment to excellence and growth has made her a key player in the success of Elevated Property Company, LLC.
Steve Brozo
Senior Vice President of Construction and Development
Steve Brozo is the Senior Vice President of Construction and Development at Elevated Property Company, LLC. In this pivotal role, Steve spearheads the construction of all new project developments, encompassing site work, building construction, and landlord work for interior tenant improvements. Before joining Elevated, Steve spent nine years at Phillips Edison & Co. (PECO) as the Associate Vice President of Construction - West. There, he managed all construction projects for a portfolio of over 40 grocery-anchored shopping centers across Arizona, Nevada, New Mexico, and Texas. Additionally, he oversaw his team’s management of construction projects at 50 more assets in Colorado, California, Kansas, Oregon, and Washington. These projects ranged from multi-tenant buildings and single-tenant build-to-suit projects to façade remodels and interior tenant improvements. Steve’s real estate career began at Design Workshop, where he served for ten years as a regional planner and Landscape Architect. He managed design, entitlements, permitting, and construction for various projects, including mixed-use communities, high-end residential developments, parks and open spaces, and institutional projects.
A proud veteran, Steve received an honorable discharge from the United States Air Force after a four-year enlistment as a weapons instructor and gunsmith at Lackland Air Force Base in San Antonio, TX. Steve holds a Bachelor of Science in Landscape Architecture and Regional Planning (BSLA)from the University of Massachusetts, which included a one-year study abroad at Lincoln University in Christchurch, New Zealand. He also earned a Master’s in Real Estate Development (MRED) from the University of Utah. An active member of the International Council of Shopping Centers (ICSC) and the Urban Land Institute (ULI), Steve resides in Salt Lake City, UT, with his wife Britni and their sons, Harrison and Royce.
Gary D. Hall
Chief Leasing Officer
Gary D. Hall is the Chief Leasing Officer at Elevated Property Company, LLC, where he brings almost three decades of expertise in the commercial real estate industry. Gary is well-regarded in the industry for his integrity, professionalism, and proactive approach. His leadership and strategic vision have consistently delivered exceptional results, making him a valuable asset to Elevated Property Company, LLC.
In his role, Gary is responsible for portfolio leasing, lease negotiations, tenant relationships, as well as development, acquisitions, and other corporate and executive functions to ensure the success of the projects and organization. Previously, Gary was with CenterCal Properties for thirteen years and was instrumental in driving the success (over 95% leased) of over twenty high-profile ground-up mixed-use, power centers, and promotional retail projects across five states. Before joining CenterCal Properties, LLC, he worked for multiple developers as well as the grocery retailer Albertsons.
With a proven track record of managing and leasing large-scale retail, entertainment, hospitality, and office spaces, Gary is known for his strategic vision and impeccable tenant relationships, as well as his knack for transforming spaces into thriving community hubs.
Gary graduated from Boise State University with a Bachelor of Business Administration in Finance. He lives in Boise, Idaho, with his wife Kellie and their two dogs, Frankie (a Sheepadoodle) and Auggie (a mini-Aussie). He’s a proud father of two fantastic young and aspiring adult children, Gabe and Gracie. When he’s not busy closing deals, Gary enjoys exploring the great outdoors of Idaho, indulging in his love for camping, hiking, pickleball, classic Mustangs, ATV/motorcycle adventures, golfing, and traveling with his wife and friends.
Lexie Byers
Director of Leasing
Lexie Byers is the Director of Leasing for Elevated Property Company, LLC. In this role, she is responsible for leasing new/existing projects, and tenant relations. Lexie is a dedicated and results-driven real estate professional with a Bachelor of Science in Business Finance from the University of Utah. With over three years of experience in the commercial real estate industry, Lexie understands both the tenant and landlord sides of the business. Lexie previously worked with Five Below, where she assisted in new store site selection in existing markets for Five Below, as well as develop and execute new market entry strategies to continue Five Below’s rapid westward expansion. She was involved in analyzing market data, conducting in-depth market research and new store deal negotiations. Additionally, Lexie played a pivotal role in managing the store fleet across her territory, ensuring optimal location choices to drive business growth and overall sales. Lexie is committed to driving value for both tenants as well as Elevated Property Co and our investors. She has a passion for retail and the commercial real estate industry, and a proven track record of success, Lexie continues to leverage her knowledge, relationships, and experience to contribute to the growth and success of Elevated Property Co.
EPC Philosophy
Elevated Property Company is committed to building premier projects that honor the communities we serve and provide our investors and partners with an unparalleled value. We are dedicated to creating best in class developments that are experiential in design with a intentional focus on execution for our retail partners and guests.
Projects
Elevated Property Company has offices in California, Utah and Idaho.
The Elevated Property executive team has been actively involved in the creation, design, leasing, construction and management of over 100 major projects throughout the western United States. Our goal is to continue to create exceptional properties that will be regarded as “best of class” in their respective communities.
