Highland Ventures, Ltd.

What Highland Ventures, Ltd. does

Highland Ventures, Ltd. is a fourth-generation, family-owned holding company headquartered in Brentwood, TN (relocated from Glenview, IL in 2022) that operates a diversified portfolio of physical retail, restaurant, healthcare, and convenience-service businesses anchored by an owned commercial real estate platform. Through its Legacy Commercial Property subsidiary, the company owns and manages more than 700 convenience-retail properties across 21-22 states — including over 450 developed strip centers — with a portfolio valued in excess of $800 million as of 2022, anchored by national tenants such as Walmart, Home Depot, Kroger, Starbucks, ALDI, Chick-fil-A, Chipotle, Panda Express, Chase, and Truist. Its Hoogland Restaurant Group is the largest franchisee in the Marco's Pizza system, operating 117-120+ restaurants across 22 states with approximately 2,500 employees and generating an estimated $100 million in annual revenue, supported by a 7.9% comparable same-store sales lift in 2023. The portfolio also includes Intune Physical Therapy (15 clinics across 3 states built primarily through acquisitions of Spero Rehab, Epic PT, and Rehab Guru) and Highland Pure Water & Ice (70+ retail locations).

The underlying technology and operating model is a vertically integrated real estate engine spanning acquisition, development, construction, leasing, and property management, which feeds cash flow and unit-economics support to the operating subsidiaries. Revenue is generated through four streams: recurring rental income from the owned real estate portfolio (subscription/recurring), franchise restaurant sales (transaction-fee), patient services from the physical therapy clinics (recurring, billed through insurance or self-pay), and ice/water dispensing at retail (transaction-fee). Go-to-market motions include direct B2B leasing through a Nashville-based team for real estate, franchise operations for restaurants, an acquisition-led roll-up for physical therapy, and direct-to-consumer retail for the water/ice business. The company also retains legacy brand equity from Family Video (closed in 2021) and continues to monetize real estate freed up from that wind-down, including a January 2026 sale of an 18-property Heartland Veterinary Partners net-lease portfolio arranged by JLL Capital Markets.

Name

Highland Ventures, Ltd.

Legal name

Highland Ventures Ltd.

Website

https://highlandventuresltd.com

Company type

Private

Founded year

1978

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Highland Ventures is a fourth-generation, family-owned holding company operating a vertically integrated commercial real estate platform (700+ properties, $800M+ portfolio) alongside Hoogland Restaurant Group (largest Marco's Pizza franchisee, 117+ units), Intune Physical Therapy (15 clinics in 3 states), and Highland Pure Water & Ice (70+ locations).

Ownership category

akta.pro rank

Headquarters

HQ city

Brentwood

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

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

Revenue model

1. Real Estate Leasing and Management: Legacy Commercial Property generates revenue through leasing, acquisitions, development, construction, and property management of retail real estate. Owns over 700 convenience retail properties across 20+ states. Revenue derived from rent payments by tenants including national brands and local retailers.
2. Restaurant Franchise Operations: Hoogland Restaurant Group operates as largest Marco's Pizza franchisee with 115-120+ locations generating revenue from pizza sales, delivery, and dine-in services. Estimated annual revenue approximately $100 million for HRG.
3. Physical Therapy Services: Intune Physical Therapy provides outpatient physical therapy services across 15 clinics in 3 states following acquisition of Spero Rehab. Revenue from patient services including physical therapy, occupational therapy, and aquatic therapy treatments.
4. Ice and Water Sales: Highland Pure Water & Ice dispenses ice and water at lower cost than convenience and grocery stores with over 70 locations nationwide

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Highland Ventures, Ltd. is a fourth-generation family-owned diversified holding company operating four core brands: Legacy Commercial Property (acquisition, development, leasing, construction, and property management of 700+ convenience retail properties across 22 states), Hoogland Restaurant Group (the largest Marco's Pizza franchisee in the U.S. with 117+ restaurant locations), Intune Physical Therapy (15 outpatient physical therapy clinics across three states), and Highland Pure Water & Ice (70+ retail locations dispensing ice and water at lower cost than grocery and convenience stores).

Product overview

Highland Ventures is a fourth-generation family business operating a portfolio of physical retail and service businesses centered around owned real estate. The company comprises four main operating brands: Legacy Commercial Property (commercial real estate with 700+ properties), Hoogland Restaurant Group (largest Marco's Pizza franchisee with 120+ locations), Intune Physical Therapy (outpatient physical therapy clinics), and Highland Pure Water & Ice (ice/water vending with 70+ locations). The company has also historically operated Family Video, a video rental chain that closed in 2021. Highland Ventures focuses on scaling retail businesses in convenience-focused sectors, leveraging its real estate holdings for operational synergies.

Differentiator

Problem solved

Functional benefit

Brands

• Legacy Commercial Property: National leader in convenience-focused retail real estate, specializing in leasing, acquisitions, development, construction, and property management with a portfolio of 700+ properties across 22 states.
• Hoogland Restaurant Group
• Intune Physical Therapy
• Highland Pure Water & Ice

Products and services

• Legacy Commercial Property Family-owned real estate investment and development firm specializing in leasing, acquisitions, development, construction, and property management of high-quality convenience retail and mixed-use properties across 22 states, serving national retail tenants and local retailers.
• Hoogland Restaurant Group (Marco's Pizza franchise) The nation's largest owner and operator of Marco's Pizza franchises, operating 117+ restaurants with approximately 2,500 employees nationwide across 22 states, offering dine-in, carryout, and delivery of authentic Italian pizza.
• Intune Physical Therapy Outpatient physical therapy platform providing personalized, evidence-based care including physical therapy, occupational therapy, and aquatic therapy across 15 clinics in three states; built through acquisition of independent practices such as Spero Rehab, Epic PT, and Rehab Guru.
• Highland Pure Water & Ice Retail dispensing of ice and water at lower cost than most convenience and grocery stores, with over 70 locations nationwide serving walk-up consumer demand.

Quantifiable outcome

• Legacy Commercial Property has developed more than 450 retail strip centers with tenants ranging from Fortune 500 companies to local retailers
• +3 more outcomes

Named customers14 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

Feature2 records

Partnerships

Seven partnerships are on record, tiered minor and core.

• Insite PropertiesminorImplementation/ SI/ Consulting Partner · 30 November 2022Charlotte, NC-based Insite Properties advised buyer Highland Ventures on the acquisition of 174 Meeting St. boutique office property in Charleston for $16.75 million.
• Heartland Veterinary PartnerscoreStrategic or Co-development Partner · 22 July 2022Highland Ventures sold Family Vet Group to Heartland Veterinary Partners while retaining underlying real estate. Heartland is private equity-backed veterinary support organization with 300+ locations. Highland serves as strategic real estate partner supporting Heartland's expansion strategy. Family Vet Group had locations in Florida, Texas, Tennessee, North Carolina, and Indiana.
• Boys & Girls ClubminorStrategic or Co-development Partner · 1 January 2018Marco's Pizza partnered with Salvation Army Boys & Girls Clubs of Davidson County (Lexington and Thomasville) for Marco's Great Futures Youth of the Month recognition program. 10% of sales donated on designated nights. Family Video provided free movie rentals to honorees.
• University of Chicago MedicinecoreStrategic or Co-development Partner · 1 January 2013Round It Up for Lymphoma campaign raised $4M enabling Dr. Sonali Smith to launch Hoogland Lymphoma Biobank in 2013. Biobank gives researchers access to biological samples from lymphoma patients. More than 1,000 patients enrolled enabling targeted immunotherapy research. Dr. Ron Levy's breakthrough lymphoma research also supported.
• Vanderbilt UniversitycoreStrategic or Co-development PartnerHoogland family (Susan and Keith Hoogland, both 1982 graduates) made $5 million commitment leading to naming of Vanderbilt's undergraduate business minor as The Hoogland Undergraduate Business Program. The program introduces students to five business disciplines: financial reporting, finance, marketing, operations, and organizational behavior. More than 1,000 students completed the minor; 800 currently declared.
• Lymphoma Research FoundationcoreStrategic or Co-development PartnerFamily Video partnered with Lymphoma Research Foundation for Round It Up for Lymphoma campaign raising over $13M since 2012. Campaign runs in Family Video stores with 100% of customer donations funding lymphoma research. Foundation is nation's largest non-profit devoted to funding lymphoma research.
• Marco's PizzacoreChannel Partner/ Reseller/ DistributorHoogland Restaurant Group is largest Marco's Pizza franchisee operating 117+ units across 22 states. Partnership began 2012; Marco's was founded 1978 by Italian-born Pasquale 'Pat' Giammarco. McLain Hoogland is member of Marco's Independent Franchise Association.

Scale indicators14 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Phillips Edison & Company: Public REIT (NASDAQ: PECO) focused on grocery-anchored neighborhood shopping centers. Directly comparable to Legacy Commercial Property's convenience retail focus, particularly its emphasis on co-tenancy with anchors such as Kroger, Walmart, and ALDI.
• Flynn Restaurant Group: Largest U.S. franchisee operator (private), running multiple QSR concepts including Pizza Hut, Taco Bell, Wendy's, Panera, and Arby's. Directly comparable to Hoogland Restaurant Group's franchisee model, although Flynn operates across multiple brands while HRG is single-brand.
• ATI Physical Therapy: Large U.S. outpatient physical therapy chain (NYSE: ATIP, taken private in 2024). Comparable to Intune Physical Therapy's 15-clinic footprint in service offering, payer relationships, and clinic-network expansion strategy.
• U.S. Physical Therapy: Public operator (NYSE: USPH) of outpatient physical therapy clinics via partnership models with clinicians. Directly comparable to Intune Physical Therapy's acquisition-led growth and clinician-partnership approach in a fragmented PT market.

Broad incumbents

• Regency Centers Corporation: Public REIT (NASDAQ: REG) owning grocery-anchored shopping centers across the U.S. Comparable to Legacy Commercial Property's 700+ property portfolio in tenant mix, but at significantly larger institutional scale and public-market governance.
• Brixmor Property Group: Public REIT (NYSE: BRX) operating open-air shopping centers. Overlaps with Legacy Commercial Property's retail strip center development, but with public-market access and broader institutional portfolio.
• Federal Realty Investment Trust: Public REIT (NYSE: FRT) focused on high-quality shopping centers and mixed-use properties in premium U.S. markets. Comparable convenience-retail focus to Legacy Commercial Property but with higher-end tenant mix and coastal geographic emphasis.
• Realty Income Corporation: Public net-lease REIT (NYSE: O) with diversified retail, industrial, and healthcare tenants. Comparable to Highland's net-lease Heartland Veterinary portfolio and the convenience retail lease structure at Legacy Commercial Property.
• Kite Realty Group Trust: Public REIT (NYSE: KRG) operating open-air shopping centers in Sunbelt markets. Geographic overlap with Legacy Commercial Property's Midwest/Sunbelt footprint and similar grocery-anchored tenant strategy.
• Oak Street (formerly STORE Capital): Private net-lease real estate platform (acquired STORE Capital in 2023) with diversified single-tenant retail and service tenants. Comparable to Highland's net-lease real estate strategy demonstrated in the Heartland Veterinary portfolio sale arranged by JLL.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/HighlandVenturesLTD
• LinkedInlinkedin.com/company/highland-ventures-ltd
• Instagraminstagram.com/highlandventures

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries4 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 Highland Ventures, Ltd.