Awarded to an individual recognized as a founder and catalyst of the industry's growth, including for service to NAIOP and to the community.
2023 President's Award Recipient: Tim Murnane
NAIOP Minnesota, the commercial real estate development association, is proud to recognize Tim Murnane as the 2023 President’s Award winner. This award is the chapter's highest individual honor, with the winner selected from a field of candidates nominated by members. The award recognizes outstanding service to the commercial real estate industry, NAIOP and the community.
Tim joined The Opus Group in 1984. Although he left briefly to work for a different developer in the late ’80s, he returned to Opus in 1991 and started their retail division. He went on to develop retail projects throughout the upper Midwest; including Arbor Lakes, a 2.5 million SF masterplan retail and office development located in Maple Grove, MN and Woodbury Lakes Lifestyle Center. Tim also led the development of the Ameriprise Financial headquarters, located in downtown Minneapolis and the Best Buy headquarters in Richfield.
He was asked to take on the role of president and chief executive officer of Opus Holding, L.L.C. in 2010, leading the company’s rebuilding from the depths of the global financial crises. Tim continues in that role today, where he oversees all operations of the organization collectively known as The Opus Group, including Opus Development Company, L.L.C., Opus Design Build, L.L.C. and Opus AE Group, L.L.C.
Over the course of his career, Tim developed more than 30 million square feet of office, industrial and retail projects.
"Tim is a leader within NAIOP, embodying the core principles of the President's Award. His remarkable contributions to the commercial real estate community and NAIOP warrant this well-deserved recognition,” said NAIOP President Jim Hoopes, chief lending officer, United Financials Capital, LLC.
Tim has been a member of NAIOP for more than 30 years and served as a past president and board member of the Minnesota chapter. He has also volunteered as a mentor, helping new professionals build their networks and industry connections, and shared his expertise with members speaking at numerous NAIOP programs. Additionally, he has served on the board for the University of St. Thomas Real Estate Program, Urban Land Institute (ULI), Minnesota Business Partnership, Twin Cities RISE!, Minneapolis Downtown Council, MN Chamber of Commerce, and St. Thomas Academy.