Real Estate 2024: SHAWN TIBBETTS

Tibbetts added the role of president to his chief operating officer position in February, when Armada Hoffler also announced it expects to appoint him as CEO in spring 2025 upon current CEO Louis Haddad’s retirement. Haddad will then serve as executive chairman for a year.

A real estate investment trust that operates across seven mid-Atlantic states, Armada Hoffler has 6.2 million rental square feet in its portfolio and an estimated $630.5 million of projects in its development pipeline. It has over 160 employees.

Before joining the company in 2019, Tibbetts was the Port of Virginia’s president and COO. Under his leadership, Armada Hoffler’s portfolio net operating income grew by 45%, and he oversaw more than $1.2 billion in transactions.

A James Madison University and William & Mary graduate, Tibbetts also completed Harvard Business School’s Advanced Management Program. He serves on the Virginia Chamber of Commerce’s board of directors.

DOGS OR CATS: I am 100% a dog person. We have a 100-pound boxer who thinks he is human.

ONE THING I’D CHANGE ABOUT VIRGINIA: I wish I could change the winter weather in Virginia to something more like Florida’s climate.