CP Group

What CP Group does

CP Group, founded in 1986 (originally as Crocker Partners, rebranded in May 2021), is a privately held, vertically-integrated commercial real estate investment and operating firm headquartered in Boca Raton, Florida. The company owns, manages, and develops Class A and Class AA office and mixed-use properties across the Sun Belt and Southwest United States, controlling more than 14 million square feet of office space across 157+ properties representing $6 billion in cumulative investments since inception. CP Group is Florida's largest office landlord and ranked the 37th largest in the U.S. as of 2021.

The firm operates a fully integrated platform spanning asset management, property management, leasing, construction management, and in-house general contracting through its Property Construction Group (PCG) arm. Its core products include the worCPlaces flexible workspace program (move-in-ready spec suites designed in partnership with Gensler, achieving near-6% rent premiums and 2-5 month lease-up times), the art@work national art program, and a portfolio-wide Tenant Experience Program. CP Group targets assets at 40-62% discounts to replacement cost and uses capital improvements, occupancy increases, and rent optimization to drive net operating income growth.

Revenue is generated through three streams: rental income from owned properties (recurring base), third-party property management and leasing advisory fees (professional services), and development/redevelopment gains realized through asset appreciation and refinancing. The firm serves enterprise and mid-market office users, professional services and legal firms, technology and life sciences companies (including a quantum computing cluster at Boca Raton Innovation Campus anchored by D-Wave), and healthcare systems, with go-to-market executed through direct enterprise leasing supplemented by exclusive relationships with major brokerages (CBRE, Cushman & Wakefield, Stream Realty, JLL, Blanca, Colliers, Newmark). Growth is funded through joint ventures with institutional capital partners including Rialto Capital Management, DRA Advisors, Time Equities, and Cross Ocean Partners.

Name

CP Group

Legal name

CPPM Leasing LLC

Website

https://cpgcre.com

Company type

Private

Founded year

1986

Operating status

Operating

Headcount range

251–500 employees

Short description

CP Group is a privately held, vertically-integrated commercial real estate firm owning and operating 14M+ SF of Class A office and mixed-use properties across the Sun Belt, serving enterprise tenants, professional services, technology, and healthcare companies with an integrated asset management, leasing, and in-house construction platform.

Ownership category

akta.pro rank

Headquarters

HQ city

Boca Raton

HQ country

United States

HQ region

North America

Offices7 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure, Technology or R&D

Revenue model

1. Asset Ownership and Management - NOI Optimization: CP Group owns and operates a portfolio of commercial office and mixed-use properties across the Sun Belt and Southwest U.S. Revenue is generated through rental income from tenants, with value creation achieved through capital improvements, occupancy increases, and rent optimization. The firm targets assets at significant discounts to replacement cost and uses hands-on management to drive net operating income.
2. Third-Party Property Management and Leasing Advisory: CP Group is appointed as third-party property manager and leasing advisor for properties it does not own (e.g., 55 Allen Plaza, One Financial Plaza), generating management fees and leasing commissions. The firm provides comprehensive services including asset management, property management, construction management, leasing, and tenant services.
3. Development and Redevelopment Gains: CP Group generates returns through redevelopment and repositioning of acquired assets, including mixed-use transformations (e.g., The Center/formerly CNN Center, Piedmont Center, Boca Raton Innovation Campus). Revenue is realized through asset appreciation and eventual sale or refinancing.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels6 records

Core offering

CP Group is a full-service commercial real estate investment firm that owns, operates, and develops Class A office and mixed-use properties across the Sun Belt and Southwest U.S. The firm offers an integrated platform of asset management, property management, leasing, construction management, and general contracting services, and operates a proprietary flexible workspace program (worCPlaces) and tenant experience platform across a 14+ million square foot portfolio.

Product overview

CP Group is a full-service commercial real estate investment firm offering an integrated platform of services including asset management, property management, leasing, construction management, and general contracting. The core products include worCPlaces (flexible workspace/spec suites developed with Gensler), art@work (national art program), and the Tenant Experience Program. The firm operates Property Construction Group (PCG) as its in-house general contracting arm. CP Group's services are designed to work together as a unified offering, combining hands-on operational management with flexible workspace solutions and tenant engagement programs to maximize asset value and tenant satisfaction across their portfolio of commercial office properties.

Differentiator

Problem solved

Functional benefit

Products and services

• worCPlaces Flexible Workspace Program Enterprise-grade, move-in-ready spec suites designed in partnership with Gensler, offering customizable and scalable office environments for companies seeking flexible, speed-to-occupancy office space. Achieves a near-6% rent premium over building market rates.
• art@work National Art Program Portfolio-wide curated art program integrating local art into the fabric of CP Group's office buildings, sourced from area museums, schools, colleges, entrepreneurs, and art organizations to support community and energize workplaces.
• Property Construction Group (PCG) In-house general contracting arm providing operator-perspective construction execution for office interior and capital improvement projects, reducing risk, accelerating delivery, and lowering total costs.
• Tenant Experience Program Portfolio-wide concierge-style tenant services program featuring a proprietary CRM for tenant engagement, on-site Tenant Services Coordinators, annual satisfaction surveys, and curated local art.
• Asset Management Strategic asset management services covering the full lifecycle from acquisition to disposition, including leasing management, development and renovation oversight, business plan execution, budgeting, reporting, and debt management.
• Property Management Full-service property management focused on maximizing asset value, improving operations, capital expenditure quality, preventative maintenance, transparent reporting, and proactive management including emergency plans.
• Leasing Hands-on leasing management including lease and contract negotiation executed by in-house teams and broker networks to aggressively increase occupancy and maximize returns.
• ESG Services Environmental, Social, and Governance services targeting Net Zero Operations by 2035, with climate/energy programs, social programs for communities, governance policies, and LEED, WELL, and Energy Star building certifications across the portfolio.

Quantifiable outcome

• worCPlaces spec suites achieve average rents at nearly 6% premium over building market rates, peaking at +20% at select properties; average lease-up of 5 months with South Florida markets achieving 2-month lease-up
• +6 more outcomes

Named customers23 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature4 records

Partnerships

Six partnerships are on record, tiered core, minor and flagship.

• HinescoreChannel Partner/ Reseller/ Distributor · 29 July 2025Global real estate investment manager tapped by CP Group to lead both short- and long-term retail leasing opportunities at The Center (formerly CNN Center) in Atlanta. Contact: Nick Garzia and Starr Cumming at Hines.
• ASHA AdvisoryminorStrategic or Co-development Partner · 29 July 2025Community-focused arts and culture advisory led by Neda Abghari. In partnership with CP Group, ASHA Advisory launched CTR Culture — a platform dedicated to arts, culture, and creative community storytelling at The Center — including the inaugural Media Placement Grants campaign for local artists and nonprofits.
• Stream Realty PartnerscoreChannel Partner/ Reseller/ Distributor · 18 June 2025Commercial real estate brokerage engaged by CP Group as the exclusive leasing agent for Piedmont Center (Atlanta's largest office complex at 2.2M SF). Stream Realty's team of Managing Directors Bryan Heller, Preston Menning, Glenn Kolker, Parker Welton, and Lauren Slappey handle all leasing transactions at the property.
• Florida Atlantic University (FAU)flagshipStrategic or Co-development Partner · 10 March 2025Florida Atlantic University committed $20 million to purchase and install D-Wave's Advantage2™ annealing quantum computer on its campus adjacent to the Boca Raton Innovation Campus. This separate commitment supports the D-Wave quantum computing headquarters at BRiC and further solidifies the region's position as a global leader in quantum research and workforce development.
• GenslercoreStrategic or Co-development PartnerWorld-class architecture firm collaborating with CP Group on the worCPlaces flexible workspace program. Gensler designed every aspect of the spec suite spaces with a focus on driving productivity through seamlessly integrating flexibility and wellness concepts into each suite.
• ULI GreenprintminorStrategic or Co-development PartnerCP Group is a Premier Member of the Urban Land Institute Greenprint center, aligning with ULI Greenprint's Net Zero Carbon Operations Goal. The partnership supports CP Group's commitment to Net Zero Operations by 2035.

Scale indicators12 records

Recent moves8 records

Expansion highlights7 records

Broad incumbents

• Paramount Group: Public office REIT with Class A assets in NYC and San Francisco. Comparable as an owner-operator of trophy office properties employing leasing-driven strategies, though serving different geographies with different demand dynamics.
• Empire State Realty Trust: Public office REIT operating the Empire State Building and a New York/Connecticut office portfolio. Larger and more established player in the office ownership and repositioning space, with comparable expertise in tenant experience and amenity-driven leasing, but concentrated in NYC rather than Sun Belt.
• Tishman Speyer: Private global real estate investment manager owning and operating trophy office properties in major markets worldwide. Comparable as a sophisticated private owner-operator with similar value-add repositioning expertise, though significantly larger and more globally diversified.
• Vornado Realty Trust: Major NYC-centric office REIT with a trophy office portfolio in Manhattan. Comparable as an established office owner-operator pursuing value-add repositioning strategies at scale, though concentrated in a single gateway market versus CP Group's Sun Belt portfolio.
• Brookfield Properties: Global real estate owner-operator with major office portfolios in NYC, London, Toronto, and other gateway markets. Comparable as a large-scale office owner employing sophisticated asset management and capital improvement strategies, though at much greater scale and broader geographic footprint.
• SL Green Realty: Largest office landlord in Manhattan with a value-add acquisition and repositioning strategy. Comparable as a sophisticated office owner-operator executing capital improvement programs and lease-up on well-located assets, though focused on NYC rather than Sun Belt.

Direct peers

• Brandywine Realty Trust: Mid-sized office-focused REIT operating primarily in Philadelphia, Austin, and other select markets. Comparable as an owner-operator of Class A office assets employing similar leasing-driven value creation strategies, though geographically distinct from CP Group.
• Cousins Properties: Sun Belt-focused office REIT with concentrated exposure in Atlanta (CP Group's deepest market) and expanding in Austin, Charlotte, and Dallas. Comparable business model as a premier owner-operator of Class A office properties in the same high-growth metros where CP Group operates.
• Piedmont Office Realty Trust: Sun Belt office REIT focused primarily on Class A office in Atlanta, Orlando, Dallas, and other major Sun Belt markets prior to acquisition by EQ. Direct competitor in the same metro/submarket dynamics and tenant base overlap as CP Group.
• Highwoods Properties: Public Sun Belt office REIT with ~30M SF across high-growth markets including Atlanta, Raleigh, Nashville, Tampa, and Orlando. Closest public market comparable to CP Group's strategy of owning and operating Class A office in Sun Belt markets, with similar focus on best-in-class office campuses and tenant experience.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/crocker-group

Compliance10 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Subsidiaries3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CP Group