Hull Property Group

What Hull Property Group does

Hull Property Group (HPG) is a privately-held, owner-operator retail real estate company headquartered in Augusta, Georgia. Founded in 1975 by Jim Hull, the company specializes in acquiring and repositioning underperforming enclosed malls and shopping centers across secondary markets in the United States. HPG owns and operates approximately 20 million square feet of retail space spanning 37 enclosed shopping malls and roughly 50 total properties across 17 states, with a portfolio concentrated in the Southeast, Midwest, and Mid-Atlantic regions.

The company's core business is commercial retail leasing, with revenue generated through negotiated leases with national retailers, regional brands, restaurants, entertainment operators, and small businesses. HPG differentiates itself through long-term ownership, in-house vertical integration — including leasing, marketing, design, accounting, property management, government relations, and a wholly-owned construction subsidiary (Gemini Construction) — and a programmatic approach to mall revitalization that combines private capital with public-sector tools such as tax increment financing (TIFs) and ad valorem tax agreements. The portfolio strategy emphasizes tenant mix transformation, anchor repositioning, common-area reinvestment, and partnerships with local government and community stakeholders to combat retail blight and drive economic development.

HPG's go-to-market is sales-led and relationship-driven: the leasing team works directly with national retailers and local entrepreneurs, supplemented by the American Dream Project small-business initiative, an online Tenant Portal for self-service, and government-relations engagement at the municipal level. The company has executed three enclosed-mall acquisitions in 2025 (Northlake Mall in Charlotte, NC; Glenbrook Square in Fort Wayne, IN; and Dayton Mall in Miami Township, OH) and is committing significant capital — including a $120 million investment at Regency Mall in Racine, WI — to programmatic repositioning. Revenue is recurring in nature, derived primarily from tenant rent, but specific financial terms are not publicly disclosed.

Name

Hull Property Group

Legal name

Hull Property Group

Website

https://hullpg.com

Company type

Private

Founded year

1975

Operating status

Operating

Headcount range

101–250 employees

Short description

Hull Property Group is a privately-held retail real estate owner-operator that acquires and revitalizes underperforming enclosed malls across 17 U.S. states. The Augusta, GA-based company owns approximately 20 million square feet of retail space leased to national, regional, and local tenants.

Ownership category

akta.pro rank

Product category

Retail Real Estate Management

NAICS

Lessors of Nonresidential Buildings (except Miniwarehouses) (531120), Lessors of Other Real Estate Property (53119)

SIC

Operators Of Nonresidential Buildings (6512), Real Estate Dealers (For Their Own Account) (6532), Real Estate (6500)

akta.pro primary industry

Affordable Housing Property Management (BPAJAGAJ)

Keywords

• Retail property management
• Shopping mall leasing
• Commercial real estate
• Mall redevelopment
• Retail lease services

Headquarters

HQ city

Augusta

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Commercial Retail Leasing: Hull Property Group generates revenue through leasing retail mall and shopping center space to national brands and local businesses. The company owns and operates approximately 20 million square feet of retail real estate across enclosed malls and shopping centers in 17 states, with tenant rent as the primary revenue stream.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels6 records

Core offering

Hull Property Group acquires, repositions, and manages underperforming enclosed malls and shopping centers across 17 states. The company generates revenue primarily through commercial leasing to national retailers and local businesses, supported by in-house construction, property management, and government relations services that drive long-term retail corridor revitalization.

Product overview

Hull Property Group operates as a retail real estate management company offering a comprehensive suite of services centered on acquiring, managing, and revitalizing retail properties. The core offerings include mall property management and shopping center management across approximately 20 million square feet of retail space in 17 states. The portfolio of approximately 50 properties includes enclosed malls, shopping centers, and outparcels. Leasing services encompass inline retail, exterior-facing shops, outparcels, and specialty leasing. Supporting services include Gemini Construction (in-house construction), the Tenant Portal (self-service platform for tenants), the American Dream Project (small business initiative), and government relations services that leverage public-private partnerships for redevelopment. The company positions itself as an owner-operator with a programmatic approach to retail property revitalization.

Differentiator

Problem solved

Functional benefit

Products and services

• Mall Property Management
• Shopping Center Management
• Retail Redevelopment
• Leasing Services
• Gemini Construction
• American Dream Project
• Government Relations and Public-Private Partnerships

Quantifiable outcome

• 300+ jobs created through Woodman's Market development at Regency Mall
• +2 more outcomes

Named customers7 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core and minor.

• Miami Crossing DistrictcoreStrategic or Co-development Partner · 27 October 2025Collaboration with Miami Township's Miami Crossing District Master Plan initiative, aligning HPG's property acquisition with local community development goals for the Dayton Mall area.
• City of Racine, WisconsincoreStrategic or Co-development PartnerStrategic partnership with city officials in Racine, WI for the $120 million investment in Regency Mall redevelopment. HPG combines private-sector capital with public-sector support through tools like ad valorem tax agreements and tax increment financing (TIFs) to drive transformational development.
• Miami Township / Muncie Redevelopment CommissioncoreStrategic or Co-development PartnerPartnership with local government entities for redevelopment planning at Dayton Mall and Muncie Mall properties, working on master plans for future development of mall areas in conjunction with community stakeholders.
• NCG CinemascoreStrategic or Co-development PartnerPartnership with NCG Cinemas, a family-owned nationally operated cinema business, to redevelop former theater space at Citrus Park Town Center into a modern 10-theater complex with luxury reclining seating and full-service bar.
• Woodman's MarketcoreStrategic or Co-development PartnerPartnership with employee-owned grocery chain headquartered in Wisconsin to anchor Phase 1 of Regency Mall redevelopment. 200,000+ square foot store brought over 300 jobs to the local economy.
• Tokyo Toybox (Taylor and Joe)minorStrategic or Co-development PartnerSmall business partnership through the American Dream Project initiative, helping gaming/anime convention vendors open their first brick-and-mortar location at Blue Ridge Mall, Hendersonville, NC.

Scale indicators6 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• CBL & Associates Properties: CBL is a publicly-traded REIT focused on enclosed malls and open-air shopping centers, predominantly in secondary and tertiary markets across the Sunbelt and Midwest. Portfolio mix and tenant strategy closely mirror Hull's specialty in non-gateway market retail centers.
• Namdar Realty Group: Namdar Realty Group is a private commercial real estate investment firm that has acquired dozens of distressed enclosed malls from bankrupt REITs (e.g., CBL, Washington Prime) at attractive basis. Highly comparable to Hull's strategy of acquiring and repositioning underperforming Class B/C malls as a long-term owner-operator.
• Mason Asset Management: Mason Asset Management is a privately-held acquirer of distressed enclosed malls, having acquired multiple centers from Washington Prime Group's bankruptcy. Similar to Hull in targeting Class B/C malls, working with municipalities, and operating a small portfolio of staff with shared service platforms.
• Washington Prime Group (restructured): Pre-restructuring, Washington Prime operated a portfolio of enclosed malls concentrated in secondary markets. Although now reorganized post-bankruptcy, the asset category overlap with Hull's enclosed mall focus and historical comparable peer role make it directly relevant.
• Centennial Real Estate Company: Centennial is a private retail real estate company that owns, manages, and repositions shopping centers, often through joint ventures with institutional partners. Similar in size and operating posture to Hull, with comparable tenant mix and small/mid-market shopping center focus.

Broad incumbents

• Brixmor Property Group: Brixmor is a large publicly-traded REIT focused on open-air shopping centers. While not enclosed-mall focused, it competes for retail leasing relationships and represents a broader incumbent in shopping center ownership with overlapping tenant types.
• Phillips Edison & Company: Phillips Edison is a publicly-traded net-lease and shopping center REIT with a large grocery-anchored portfolio. Broadly comparable as a retail property owner-operator serving national and regional tenants, though its open-air, grocery-anchored focus differs from Hull's enclosed mall orientation.
• Simon Property Group: Simon is the largest publicly-traded REIT and a dominant enclosed mall owner. It is a broad incumbent rather than a direct competitor in secondary markets, but it sets pricing/competitive benchmarks across the broader mall segment Hull operates in.
• RPT Realty: RPT Realty is a shopping center REIT with a portfolio of open-air centers in primary and secondary markets. Comparable as a retail property owner-operator; less focused on enclosed malls than Hull but competes for similar grocery and service-tenant relationships.
• Brookfield Properties (Retail): Brookfield's retail arm owns and operates a meaningful enclosed mall and lifestyle center portfolio. As a large diversified real estate platform it is a broad incumbent, though its portfolio skews toward higher-quality malls than Hull's secondary-market focus.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/hullpropertygroup
• LinkedInlinkedin.com/company/hull-storey-gibson-llc
• Instagraminstagram.com/hullpropertygroup/?hl=en

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

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 Hull Property Group