Founded by Joseph R. Walters, Mutual Development Company and J. Walters Construction Co. specialize in developing and constructing retail and industrial real estate projects across the southwestern United States. Mutual Development's successes began in the late 1990s and early 2000s where both companies worked together to complete construction and development of projects in multiple markets. The company started developing properties in Arizona in 2004 when it developed two retail shopping centers in Scottsdale, Arizona. After the properties were fully leased, they were sold in July 2007. Beginning in 2005, Mutual Development developed Gateway Crossing, a 250,000 square foot shopping center in Avondale, Arizona. Gateway Crossing (which is still owned by Joe Walters today) includes tenants such as Best Buy, Old Navy, Comerica, Hobby Lobby, Islands, Paradise Bakery, Claim Jumper, FedEx, Chipotle, Comerica Bank, and Raising Cane’s. In addition, Mutual Development has developed sites for Americas Tire, Kragen Automotive, Quick Quack Carwash and other tenants. Mutual Development currently manages Gateway Crossing, and just completed a $40M refinance of the project in February, 2017. Through various partnerships, Mutual Development continues to develop properties in Arizona, California, and Texas.
Joe Walters, Principal of Mutual Development Company and J. Walters Construction Co., began working with Phillips Construction in Overland Park, Kansas, in 1974. After serving in the United States Marines as an air traffic controller, he returned to Phillips in 1981, and began working in Phoenix, Arizona in 1982 as a development manager, project manager, and superintendent. In 1987 he formed J. Walters Construction, where he completed projects for clients such as Anheuser Busch, Americraft Carton, Earp Meats (a McDonalds distribution building), Kmart, Kohls, Firestone Tire Co., Walgreens, Phillips 66, Burger King, Smashburger, Walmart, Aldi, Ethan Allen, Best Buy, Hobby Lobby, Islands, Claim Jumper, Old Navy, Raising Canes, Kragen Automotive, and numerous of other national clients. His extensive background includes projects in all sectors of construction including retail, office, medical, industrial, and multi family projects, which were built from Kansas City west through Arizona, Texas, and on to California, . In addition, Joe built projects for his own account after forming Mutual Development Company LLC, in 1989. All told, J. Walters Construction has completed projects in 21 different states.
In his spare time, Joe enjoys traveling, sailing, scuba diving, spending time with his four grandchildren and family, and also often visits his home town of Kansas City.
Michael Clark joined Mutual Development in April, 2016 to focus on single tenant and multi tenant development throughout California and the southwest. His focus is on site identification and entitlements for the company. Prior to joining Mutual Development, Michael worked for over 18 years in industrial and retail brokerage, most recently with the Velocity Retail Group in Phoenix, Arizona since 2002 specializing in retail tenant representation. He also worked closely with Accelerated Development Services, utilizing his background in finance to provide underwriting and proforma analysis as well as his extensive background in leasing power centers and neighborhood shopping centers. Michael is originally from Columbus, Ohio, where he specialized in commercial industrial real estate before moving to Scottsdale, Arizona in 2002. Having a long career in brokerage, Michael has represented numerous landlords such as Prologis, Duke Realty, First Industrial, Principal Financial Group, Sears Holdings Company, ScanlanKemperBard Companies, RED Development Cypress Equities, Evergreen Devco, Kornwasser Shopping Center Properties, Mutual Development Company, the Silk Stewart Development Group, and tenants in the west and southwest, including CVS/pharmacy, Quick Quack Car Wash, Mattress Firm, Popeye’s Louisiana Kitchen, Paradise Bakery Café, Rudy’s Barbeque, Carl’s Jr., Del Taco, Fatburger, and Rubio’s Fresh Mexican Grill.
Michael is a graduate of the Ohio State University (BSBA Real Estate and Urban Analysis). He lives in Scottsdale with his young daughter, Reese.