120 YEARS | S.L. NUSBAUM REALTY

If you’ve shopped in Virginia, chances are you’ve visited one of the many projects that’s made S.L. Nusbaum Realty Co. the largest shopping center developer in Virginia. The Shops at Hilltop, a massive Virginia Beach retail complex completed in the early 1970s, was one of the Tidewater region’s first large-scale shopping centers. It helped the Norfolk-based company hone a niche, going on to develop more than 60 shopping centers across the commonwealth.

Just as malls have evolved over the years, so has the company. It’s now a major powerhouse in commercial and multifamily real estate and property management, employing more than 1,000 people across its Norfolk and Richmond offices.

One of the “secret sauces” to S.L. Nusbaum’s success is staying rooted in tradition while continuously adapting to new market opportunities, says Miles Leon, the company’s president, CEO and chairman of the board. “It’s always been run like a family business.”

Today, fifth-generation descendants of founder Sidney Leon Nusbaum still play an integral role in day-to-day operations. That family feel also extends to how the company cares for clients, investors and employees, adds Richard “Rickey” Jacobson, a senior vice president and partner celebrating 51 years with the company in October.

Jacobson experienced this firsthand; he joined with little real estate experience and benefited from the mentorship and expertise of senior leaders.

“From day one, I’ve always felt like I’m part of the family.”

Click here to return to the Milestones page