Our values

Our Values

At Luck Real Estate Ventures, our values are the principles of the way we operate our businesses. From the way we work internally each day, to the relationships we foster with our customers and communities, we are guided by four core values.


Takes personal responsibility for the success of self, others, and the organization

  • Model safety, health, and environmental stewardship
  • Do what it takes
  • Pursue excellence
  • Celebrate success


Delivers ideas and innovation that add value

  • Be curious
  • Learn new skills
  • Be open to change
  • Explore and experiment


Earns the trust and respect of others

  • Be honest
  • Do what you say
  • Hold self and others accountable
  • Give and receive feedback


Ignites human potential and performance

  • Value diversity and differences
  • Develop self and others
  • Inspire confidence and optimism
  • Confront issues
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Carmel Technology and Enterprise Center (CTEC)

Luck Companies is a family-owned and operated business that has been active in Virginia for over 100 years, and operating in Caroline County for nearly a third of that time. Our latest investment in Caroline County is our proposed Carmel Technology and Enterprise Center (CTEC).  The I-95 Corridor between Washington, D.C. and Richmond has seen tremendous growth over the last three decades and continues that growth today. 


Caroline County, and specifically Carmel Church, are uniquely positioned to take advantage of growth and provide its residents with opportunities for high-quality local employment and significant increases in tax revenue to support the County’s long-term health.

As an active member of the Caroline County community for the last three decades, we are excited to work with the County and its residents through the review and approval of CTEC to create a positive vision of the next thirty years and beyond. Luck Companies has owned the property that comprises CTEC for more than twenty years and has envisioned multiple uses thereon. Through our conversations in the community and our understanding of the market, we feel that a project like CTEC in this location will be transformative for Caroline County and its residents.

Jon Riley,
General Manager, Luck Real Estate Ventures

Our Ask

In alignment with the 2030 Caroline County Comprehensive Plan’s Vision Statement, we are seeking approvals and support to assist Caroline County in becoming “a model of business development that ensures sufficient managed economic growth to enhance the quality of life of its residents and attract desired socially responsible businesses.”

to support a technology enterprise center

of a community center

of all major utilities, including high speed internet

We care deeply about our communities and work closely with partners to realize the full economic potential of our properties, carefully managing each project to effect positive change.



We understand the complex political, engineering and construction factors that need to align for an industrial project to succeed. From zoning, acquisition and site planning to project management support, the LREV team will work closely with you to keep your development on track.


A thriving commercial experience can revitalize a community and set the foundation for a prosperous future. Many of our properties are ideally suited to the unique requirements of successful commercial and retail-oriented development, with appealing locations in high-traffic areas.

Land for Development

The LREV portfolio includes many strategically-located properties, just waiting for the right visionary developer. We will help ensure every greenfield project realizes its full potential —quickly, cost-effectively and profitably.

The Project

Luck Real Estate Ventures is pleased to propose a master-planned industrial development called the Carmel Technology and Enterprise Center in Caroline County. This development will sit on 1,197 +/- acres strategically located along the I-95 and U.S. Route 1 corridors. This project is one of the most unique, large, master-planned development opportunities along the East Coast for continued growth in the community and the Commonwealth of Virginia. The requested zoning will allow a mix of uses, including light-industrial, warehouses, data centers, and other permissible industrial uses.

Our Enhanced Plan

We care deeply about our communities and work closely with partners to realize the full economic potential of our properties, carefully managing each project to effect positive change.

1,762 JOBS
4.3 M+ SQ FT
200+ ACRES


At full build out, the estimated total average annual direct fiscal impact would be approximately $21.9 million, which could help support such projects as utility infrastructure improvements and critical services throughout the county.

1,800 JOBS

At full build out and full occupancy, the proposed industrial development would generate a direct annual impact on Caroline County supporting approximately 1,762 jobs.


Luck’s goal is to be a continued community partner for decades to come through our company’s business longevity and past 


CTEC will be located approximately 1.5 miles from I-95, providing efficient access to a major highway network.

4.3 M+ SQ FT

CTEC will create 4.3M+ square feet of new industrial sites and buildings.

200+ ACRES

Luck is dedicated to preserving 200+ acres (or nearly 17% of the entire acreage) of land within the project area, to include wetlands.

Meet Our Team

  • Jon Riley
    General Manager

    As General Manager, Jon’s focus is on the strategy and relationships within LREV's lease portfolio.  Jon’s deep industry knowledge and relationships help existing partners grow their businesses' and footprint through LREV’s real estate offerings.  In addition, Jon oversees Luck Stone’s real estate portfolio and needs including acquisition and sales, entitlements, permitting and coordination of day-to-day operations. Prior to joining Luck, he was a project manager for a regional mixed-use developer and was involved in the development of over two million square feet of retail, residential and office space.  Jon holds a BA from the University of Virginia and a Master’s of Urban and Regional Planning from Virginia Commonwealth University.

  • Vik Murthy
    Land Use & Development Manager

    Vik believes passionately in the revitalization of urban spaces, and in real estate development as a means to positively impact a community. He has led teams responsible for multi-million-dollar real estate portfolios, has directed the development of successful commercial projects throughout the Metro-Richmond area and currently serves on the Richmond Planning Commission.

    Vik earned an MBA in Real Estate and Land Development and a BS in Accounting, both from Virginia Commonwealth University.

  • Jad Malaeb
    Land Use Development Manager

    As Land Use and Development manager, Jad is passionate about urban development, specifically residential and industrial. He believes that urban development can lead to prosperity, improved quality of life, and vibrant communities. After earning his BA from Towson University, Jad has spent his career in commercial real estate market analysis, land acquisition, and development.