What Primestor Development does

Primestor Development is a privately held, vertically integrated real estate investment and development firm founded in 1992 by Arturo Sneider and Leandro Tyberg, headquartered in Culver City, California. The firm acquires, develops, leases, and manages grocery-anchored community shopping centers and mixed-use properties in urban underserved minority communities across California, Nevada, Arizona, and Texas. Its portfolio of approximately 50 properties, valued at over $836 million and encompassing more than 3.1 million square feet, serves nearly 200 tenants ranging from local kiosk operators to national retail anchors such as Ross, Marshalls, Target, Home Depot, Food 4 Less, Kroger, and Walmart Neighborhood Market.

The company operates an integrated platform spanning eight service lines — Acquisitions, Asset Appreciation, Development, Leasing, Master Planning, Project Management, Residential, and Specialty Leasing — supplemented by a Community Outreach program that organizes more than 150 events annually. Recent capital deployment includes the 2024 acquisitions of Esplanade Shopping Center ($90M) and Hilltop Plaza ($36.5M, the firm's first Northern California asset), the 2025 acquisition of Chula Vista Center (~$86M, marking a San Diego market return), and the groundbreaking of The Walk, a 374-unit mixed-use development in Norwalk, CA backed by $10M of institutional equity from New Jersey Community Capital. The firm has also operationalized the Urban Vision Fund, its first institutional capital vehicle.

Primestor's go-to-market is relationship-driven and sales-led: direct outreach to national and regional retailers, ground-lease and entitlement partnerships with municipalities, and equity co-investment with institutional and community capital partners. Pricing is negotiated on a quote basis with multi-year leases, and tenant credit is anchored by national retailers, while long-tail community-facing leases (e.g., Plaza La Alameda, Bell Gardens Marketplace) provide community identity differentiation. The firm differentiates on talent and demographic fit (89% minority workforce, 49% women, over 50% of team born in served communities), strong political and civic relationships, and a 30-year operational track record recognized by the LA500, L.A. Times B2B Visionary designation, and California Business Properties Association Humanitarian of the Year award.

Name

Primestor Development

Legal name

Primestor Development Inc.

Website

https://primestor.com

Company type

Private

Founded year

1992

Operating status

Operating

Headcount range

11–50 employees

Short description

Primestor Development is a privately held, vertically integrated real estate firm that acquires, develops, leases, and manages grocery-anchored community shopping centers and mixed-use properties in urban underserved minority communities across the southwestern United States, serving nearly 200 tenants ranging from local operators to national retail anchors.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Development

NAICS

Land Subdivision (2372)

SIC

Real Estate Dealers (For Their Own Account) (6532), Operative Builders (1531)

akta.pro primary industry

Core Real Estate (Stabilized/Core-Plus) (FSAAAKAA)

Keywords

• Commercial real estate development
• Mixed-use property development
• Retail leasing services
• Property management services
• Urban community development

Headquarters

HQ city

Culver City

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Supply Chain, Personnel, Marketing or Sales, Infrastructure

Revenue model

1. Real Estate Development Fees: Revenue generated from developing new mixed-use and retail properties for itself and its investors.
2. Property Management and Leasing: Ongoing revenue from managing and leasing retail and mixed-use properties across their portfolio. The company manages properties valued at over $836M with nearly 200 tenants ranging from small local operators to large national retailers.
3. Asset Acquisition and Appreciation: Revenue from acquiring underperforming or undervalued retail properties, repositioning them, and generating returns for investors through asset appreciation and strategic improvements.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels8 records

Core offering

Primestor Development is a real estate investment and development firm that acquires, develops, manages, and leases mixed-use retail and commercial properties in urban underserved minority communities across California, Nevada, Arizona, and Texas. The company operates a vertically integrated platform spanning acquisitions, development, leasing, master planning, project management, and asset management, managing a portfolio of approximately 50 properties totaling over $836M and 3.1 million square feet.

Product overview

Primestor Development is a real estate investment and development firm with a 30-year track record specializing in urban, underserved minority communities. The company offers an integrated platform of services including Acquisitions, Development, Leasing, Asset Appreciation, Master Planning, Project Management, Residential, and Specialty Leasing, complemented by Community Outreach and Experiences programs. The company's portfolio, valued at over $836M and spanning over 3.1 million square feet across California, Nevada, Arizona, and Texas, includes approximately 50 retail and mixed-use properties ranging from community shopping centers (Village Square, Los Jardines, Sylmar Towne Center) to regional destinations (Chula Vista Center, Panorama Mall) and transformative mixed-use developments (The Walk in Norwalk, Panorama City Center, Evermont, Jordan Downs). Properties feature national retailers alongside local tenants, with nearly 200 tenants across the portfolio.

Differentiator

Problem solved

Functional benefit

Brands

• Urban Vision Fund: An investment fund associated with Primestor Development for community-focused real estate investments.

Quantifiable outcome

• 100+ projects completed in 30 years
• +2 more outcomes

Named customers10 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Five partnerships are on record, tiered core and minor.

• Block x Block Initiative (BxB)coreStrategic or Co-development PartnerFounding members of the Block x Block Initiative alongside Community Coalition (CoCo) and Genesis LA. This initiative aligns community organizations with deep roots, developers with shared values, and early-stage capital to foster stable and thriving neighborhoods over the next decade. Primestor supported due diligence and negotiations for acquisition of the Salvation Army building for Evermont's future development.
• JLL (Jones Lang LaSalle)minorImplementation/ SI/ Consulting PartnerJLL represented both Primestor and the seller in the $36.5 million acquisition of Hilltop Plaza in Richmond, CA. Team members Geoff Tranchina, Eric Kathrein, Gleb Lvovich, and Warren McClean facilitated the transaction.
• AJUA (Association of United Jaliscienses in Action)minorStrategic or Co-development PartnerPartnership with AJUA for the unveiling of the official Vicente Fernandez statue at Plaza La Alameda. AJUA represents Jaliscienses in action and helped bring 'El Rey' of Mexican Ranchera Music's statue to the community.
• Community Coalition (CoCo)coreStrategic or Co-development PartnerCoCo partnered with Primestor and Genesis LA in the Block x Block Initiative to secure the Salvation Army building for Evermont's future development, ensuring the project remains centered on community needs.
• Genesis LAcoreStrategic or Co-development PartnerPartnered with Primestor and Community Coalition (CoCo) in the Block x Block Initiative to support Evermont's future development through early-stage capital and community-aligned development.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Vestar Development: Vestar is a private commercial real estate developer and owner-operator of retail and mixed-use properties across the Western U.S. It is directly comparable to Primestor in business model, property type focus, and geographic overlap.
• CIM Group: CIM Group is a private real estate and infrastructure firm developing mixed-use urban projects in underserved markets—comparable business model to Primestor with similar focus on community-driven development and institutional capital partnerships.
• Mid-America Real Estate Corporation: Mid-America is a private retail real estate investment and management firm focused on grocery-anchored and open-air shopping centers—comparable to Primestor in property type specialization and tenant mix.

Broad incumbents

• Forest City Realty Trust: Now part of Brookfield Properties, Forest City was a diversified real estate developer focused on mixed-use urban projects including retail centers, with national tenant relationships similar to Primestor's anchor roster.
• The Howard Hughes Corporation: Howard Hughes develops large-scale master-planned mixed-use communities combining retail, residential, and office components—directly comparable to Primestor's Panorama City, The Walk, and Jordan Downs projects in scope and strategy.
• Brixmor Property Group: Brixmor is a publicly traded retail REIT owning open-air shopping centers anchored by grocery and necessity-based retailers—similar tenant mix and property type as Primestor's grocery-anchored community centers.
• Regency Centers: Regency Centers is a grocery-anchored shopping center REIT with a national portfolio—directly comparable to Primestor's portfolio strategy of community-serving retail centers with national anchors.
• Kite Realty Group: Kite Realty is a retail-focused REIT owning open-air shopping centers predominantly in the Southeast and Sunbelt—comparable property type to Primestor's Texas, Arizona, and California community centers.
• Federal Realty Investment Trust: Federal Realty is a retail REIT specializing in mixed-use and grocery-anchored shopping centers in dense coastal markets—directly comparable to Primestor's California-focused urban community centers and mixed-use redevelopment strategy.

Emerging players

• Urban Genesis (community development): Urban Genesis is a smaller community development firm working in similar urban revitalization and mixed-use affordable housing spaces—comparable as a thematic peer focused on underserved urban markets.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xinstagram.com/primestordevelopment
• Facebookfacebook.com/primestor
• LinkedInlinkedin.com/company/primestor-development
• Instagraminstagram.com/primestordevelopment

Revenue estimate

Valuation estimate

Number of profiles

Profiles8 records

Funding overview

Funding rounds1 record

Investors1 record

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 Primestor Development