P3RE is a tightly knit team, selectively recruited for their areas of expertise ranging from development, brokerage, management, construction and life sciences. Because of the array of our backgrounds and experiences in commercial real estate and more specifically, life sciences real estate over the past 28 years, we are able to creatively meet the demands of each new project. From major research parks to individual industrial facilities, P3RE develops Class A real estate in major life science clusters. In turn, this provides the companies within our portfolio with the confidence that we will deliver the utmost quality and most economically efficient space possible.

Our success is built on:

a proven track record
in-house development
successful completion of hundreds of life science transactions since 1987
unique access and credibility with deal makers in the life science markets
outstanding relationships with our architects, MEP engineers, lab planners and contractors, who are an extension of the P3RE team

Executive Leadership

W. NEIL FOX, III
CHIEF EXECUTIVE OFFICER

Neil Fox serves as a Chief Executive Officer for P3RE. He has invested in commercial real estate and the life sciences industry for more than 30 years. Having joined CB Richard Ellis in 1985, Neil quickly established himself as one of the preeminent brokers in Research and Development and Life Science/Bio-Tech, specializing in both landlord and tenant representation in the Torrey Pines, University Town Center, Sorrento Valley, and Sorrento Mesa markets within San Diego.

In 1993, Neil became a co-founding member of the CB Life Sciences Group, a group which has since risen to national prominence in this niche industry. With approximately 50 members by 2015, this group has representatives in all of the biotechnology centers around the United States and in international markets. During his tenure at CB, Neil amassed an intimate knowledge of the biotechnology industry and the associated real estate requirements for research facilities, which served as the foundation from which he launched his development career.

Neil began a joint venture with Nexus Properties, Inc. of San Diego in 1997 to develop properties around the country, completing seven projects in San Diego, Seattle and Boston life science markets.

In 2000, Neil founded his own independent development company, Phase 3 Properties, Inc. to continue the success that was achieved with Nexus Properties, Inc. Since the inception of Phase 3, he has independently completed development of over 18 properties. Since inception, Phase 3 has developed over 980,000 SF of industrial space, 715 acres of land, and over 500,000 SF of hi-tech/life science/bio-tech space.

Neil obtained his Bachelor’s Degree from the University of Southern California and has a California Real Estate License. He resides in Del Mar, California with his wife and daughter.

MICHAEL GERRITY
PRESIDENT

Mike Gerrity serves as the President of P3RE. Involved in commercial real estate throughout his entire career, Mike is known as a forward-thinking, solutions-oriented leader with a strong financial analysis and project management skillset.

In 2005, Mike joined CBRE in San Diego, California, as the head of industrial research. He was responsible for tracking approximately 200 million square feet of industrial property and producing the quarterly market view report. He also assisted sales staff in presentation preparation, availability reports, and negotiations.

Upon coming to Phase 3 Properties in 2006, Mike was responsible for the execution of a number significant life science lease and sale transactions, including the sale of the $109 million Neurocrine Bioscience Campus in Del Mar, California. Working alongside Neil Fox, Mike assumed responsibility for nearly $250 million of lease and sale brokerage transactions and over $500 million of real estate development. His primary focus included financial analysis, deal structuring, and project management. Neil’s and Mike’s complementary skill sets have proven successful over the years.

From 2012 to 2014, Mike served as President and Co-Founder of American Rental Property Solutions LLC, “ARPS”. ARPS was founded to manage single-family home rentals acquired beginning in 2011 with opportunistic private capital. ARPS still manages over residential properties throughout the United States. Mike’s core responsibility was building the operations to acquire, remodel, rent, and manage single family homes. His efforts and team resulted in $50 million of investment from 2011 to 2014.

Mike obtained his Bachelor’s Degree from Harvard College, and has a California Real Estate Brokers License. He resides in Pacific Beach, California with his wife, daughter, and son.