What Wilmorite Properties Inc does

Wilmorite Properties, Inc. (operating as Wilmorite Management Group, LLC) is a family-owned, Rochester, NY-headquartered real estate development, construction, and management firm founded in 1940 by brothers James P. Wilmot and William F. Wilmot. The company develops, owns, and operates shopping centers (Eastview Mall, The Mall at Greece Ridge, The Marketplace Mall, Pittsford Plaza), student housing projects on campuses including RIT, Syracuse, and Duke, mixed-use developments (notably the UR Medicine Orthopaedic Center at The Marketplace), and casino/resort properties via joint ventures with tribal partners and national operators such as Caesars and Golden Nugget (del Lago, Harrah's Northern California, Golden Nugget Danville, First Council). Its core operating platform is fully in-house — construction, leasing, legal, finance, property management, marketing, and a NY State-certified Security Guard Training School with 100+ security staff — supported by LEED-certified construction processes and a market research/customer profiling platform that feeds yearly strategic marketing plans for each mall. Wilmorite has built more than 30 million square feet of commercial real estate and developed individual projects in excess of $500M.

Wilmorite makes money through six principal revenue streams: (1) recurring base rent plus percentage rent from anchor and inline retail tenants across its owned/managed shopping centers (portfolio average 95% occupancy), (2) short-term specialty leasing on RMUs, kiosks, and inline openings (holiday kiosks from $1,200/month) targeted at entrepreneurs and pop-ups, (3) construction management and design-build services for third-party clients across retail, academic, hospitality, airport, convention, and parking projects, (4) comprehensive property and asset management fees covering finances, operations, risk management, security, leasing, legal, and tax for owned and third-party managed properties (over 22.5M sq ft and 5,000+ apartments under management), (5) casino gaming revenue through development fees and joint-venture interests in tribal and operator partnerships, and (6) student housing rental income from 100% pre-leased purpose-built projects. The company's go-to-market is enterprise field sales, with in-house leasing agents handling national tenant relationships — some spanning 40+ years — and direct negotiation of multi-year anchor leases.

The firm operates across at least eight US states (New York primary, plus Connecticut, New Jersey, Virginia, Illinois, California, North Carolina, Oklahoma) and is led by the Wilmot family across multiple generations: Thomas C. Wilmot Sr. (Chairman since 1998), Thomas C. Wilmot Jr. (President, Wilmorite Management Group), James R. Wilmot (COO), Paul J. Wilmot (President, Construction), and James A. Wilmot (President, Casino Development). Leadership is supported by VPs across leasing, operations, finance, construction, security, and human resources, plus dedicated counsel and a CAD/tenant coordination team. Wilmorite is privately held, with no external shareholders, no IPO, and no institutional parent disclosed; project-level structures (Vicwil Associates, Rosewil Associates, Rochester Malls LLC, Danville Development LLC) handle specific investments.

Name

Wilmorite Properties Inc

Legal name

Wilmorite Management Group, LLC

Website

https://wilmorite.com

Company type

Private

Founded year

1940

Operating status

Operating

Headcount range

251–500 employees

Short description

Wilmorite is a family-owned, Rochester, NY-based real estate developer, constructor, and operator managing 22.5M+ sq ft of retail, residential, and mixed-use properties plus casino and student housing joint ventures across eight US states.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Development and Management

NAICS

Real Estate Property Managers (53131), Residential Property Managers (531311), Lessors of Nonresidential Buildings (except Miniwarehouses) (531120)

SIC

Real Estate (6500), Land Subdividers & Developers (No Cemeteries) (6552)

akta.pro primary industry

Multifamily Apartment Property Management (BPAJAFAA)

akta.pro secondary industry

HOA / Condominium Association Management (BPAJAFAH)

Keywords

• Commercial real estate development
• Shopping center management
• Retail property leasing
• Construction management services
• Casino resort development

Headquarters

HQ city

Rochester

HQ country

United States

HQ region

North America

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Retail & Office Lease Revenue: Recurring base rent plus percentage rent from anchor tenants (department stores), inline shop tenants, kiosks, RMUs, and specialty seasonal tenants across owned/managed shopping centers; portfolio averages 95% occupancy.
2. Specialty & Short-Term Leasing: Short-term leases (one month to one year) on RMUs, kiosks and inline spaces; holiday kiosks from $1,200/month for select locations; targets entrepreneurs, pop-ups, local start-ups.
3. Construction Management Services: Construction management and design-build services for third-party clients on shopping centers, academic facilities, hotels, casinos, airports, convention centers, parking structures, and outparcels (e.g., Fidelity Investments, Hyatt Regency, Greater Rochester International Airport, Connecticut Commons).
4. Property & Asset Management Fees: Comprehensive property management including finances, accounting, operations, risk management, security, leasing, legal, development, construction, energy management, maintenance and tax services for owned and third-party managed properties; over 22,500,000 sq ft commercial/retail/residential and 5,000+ apartments managed.
5. Casino Gaming Operations: Revenue from operating and developing casino/resort properties (del Lago Resort & Casino, Golden Nugget Danville, Harrah's Northern California, First Council Casino); typically structured as joint ventures with tribal partners and operators (Caesars, Golden Nugget).
6. Student Housing Rental Income: Revenue from purpose-built student housing at RIT, Syracuse University, Duke, Nazareth College, TC3, Herkimer County CC, etc.; projects typically 100% pre-leased with waiting lists.

Pricing tiers

Go-to-market motion1 record

Core offering

Wilmorite Properties Inc is a privately held, family-owned real estate development, construction, and property management firm that owns, operates, and leases a portfolio of shopping centers, mixed-use retail/medical properties, casino/resort facilities, and student housing. The company also provides third-party construction management, asset and property management, leasing, marketing, tenant coordination, and security services to commercial, retail, and residential clients.

Differentiator

Problem solved

Functional benefit

Brands

• Eastview Mall: Super-regional shopping center located in Victor, NY; over 9 million visitors annually with anchor tenants including Von Maur, JCPenney, Macy's, Dick's House of Sport, L.L.Bean, Regal Cinemas, Raymour & Flanigan, Target, and Home Depot.
• The Mall at Greece Ridge
• The Marketplace Mall
• Pittsford Plaza
• Golden Nugget Danville

Products and services

• Eastview Mall Super-regional shopping center in Victor, NY anchored by Macy's, Von Maur, JCPenney, L.L. Bean, Home Depot, Dick's House of Sport, Target, Regal Cinemas, and Raymour & Flanigan; serves over 9 million visitors annually with anchor, inline, kiosk, and specialty leasing opportunities.
• The Mall at Greece Ridge Enclosed regional shopping mall in Greece, NY anchored by JCPenney, Boscov's, Target, Dick's Sporting Goods, Burlington, Michaels, Marshalls, and Apple Cinemas; serves over 8 million visitors annually.
• The Marketplace Mall Mixed-use medical, retail, hospitality, food, and entertainment hub in Henrietta, NY featuring the University of Rochester Orthopaedic Center (340,000+ sq. ft.), Dave & Busters, Indykart Raceway, JCPenney, and Sportsman's Warehouse.
• Pittsford Plaza Upscale open-air retail center in Pittsford, NY anchored by Wegmans, Trader Joe's, TJ Maxx, Barnes & Noble, The Cheesecake Factory, and Michaels; serves over 4 million visitors annually.
• Golden Nugget Danville Casino Gaming facility in Danville, IL with 500 slot machines, 14 gaming tables, Saltgrass Steakhouse, sports bar, café, and 700 surface parking spaces; developed by Danville Development, LLC under the Golden Nugget brand.
• Wilmorite Construction and Development Services Full-service construction and development services for shopping centers, casinos/resorts, student housing, hotels, airports, convention centers, parking structures, and mixed-use complexes; Wilmorite has built more than 30 million square feet of commercial real estate.
• Leasing Services Commercial real estate leasing services with six full-time leasing agents combining more than 60 years of experience; in-house Legal Division supports all leasing negotiations, contracts, and leases; portfolio averages 95% occupancy.
• Specialty Leasing Program Short-term RMU, kiosk, and in-line leasing program for first-time entrepreneurs and experienced vendors across all four Wilmorite shopping centers with lease terms from one month to one year; holiday kiosks start at $1,200/month.
• Wilmorite Security Services Life-safety programs and protective security services for office complexes, residential properties, and retail settings with over 100 employees; operates a New York State-certified Security Guard Training School; coordinates with local, state, and federal law enforcement agencies.
• Property and Asset Management Comprehensive property and asset management services including finances, accounting, operations, risk management, security, leasing, legal, development, construction, energy management, maintenance, and tax services for owned and third-party managed properties covering over 22.5 million sq. ft. of commercial, retail, residential property and 5,000+ apartments.
• Marketing Services Strategic marketing, advertising, and promotional services for mall tenants using TV, radio, print, outdoor, social media, paid social, eblasts, digital/OTT advertising, influencer collaborations, and market research software for shopper profiles and trade area demographics.
• Tenant Coordination Services Construction management support for tenant build-outs covering pre-construction through project completion, including tenant design package preparation, plan review, landlord approval, pre-construction meeting, and tenant construction oversight with transparent communication and an open-book policy.

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Recent moves6 records

Expansion highlights6 records

Broad incumbents

• Simon Property Group: Largest publicly traded U.S. mall REIT, owning and operating premier shopping centers and malls nationally. Most relevant broad incumbent peer for Wilmorite's super-regional mall portfolio, with materially greater scale, capital access, and tenant relationships.
• Brookfield Properties: Subsidiary of Brookfield Asset Management operating a global portfolio of office, retail, and multifamily assets. Direct comparable in mall/retail management and mixed-use development at significant scale.

Direct peers

• The Macerich Company: Publicly traded REIT focused on owning and operating high-quality regional malls in primary and secondary markets across the U.S. Closest direct peer in business model — mall ownership, leasing, and redevelopment — to Wilmorite's retail operations.
• CBL & Associates Properties: Publicly traded REIT specializing in enclosed malls and open-air shopping centers, with a strong concentration in secondary and tertiary markets. Highly comparable to Wilmorite's super-regional and community mall portfolio.
• Brixmor Property Group: Publicly traded REIT owning and operating a national portfolio of open-air and grocery-anchored shopping centers. Comparable to Wilmorite's community/open-air retail like Pittsford Plaza and the leasing/management approach.
• Federal Realty Investment Trust: Publicly traded REIT focused on high-quality open-air, mixed-use, and grocery-anchored shopping centers in dense U.S. coastal markets. Comparable in mixed-use repositioning strategy (e.g., Wilmorite's Marketplace Mall medical insertion).
• Tanger Inc. Publicly traded REIT specializing in outlet and open-air retail centers. Comparable retail-anchored leasing model and tenant relationships, though focused on a different retail sub-segment.
• Phillips Edison & Company: Publicly traded REIT focused on neighborhood and community shopping centers anchored by grocery. Comparable in leasing operations on smaller-format retail assets and tenant mix curation.
• RPT Realty: Publicly traded shopping center REIT focused on open-air, grocery-anchored centers. Comparable in leasing platform, tenant relationships with national retailers, and community-center focus.
• American Campus Communities (now part of Blackstone): Largest publicly traded U.S. student housing REIT before acquisition by Blackstone. Direct peer to Wilmorite's purpose-built student housing platform (Park Point at RIT, Blue Light Living at Duke, etc.) in product type and tenant base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/wilmorite-management-group-llc

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries8 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 Wilmorite Properties Inc