Capital Growth Buchalter, Inc

What Capital Growth Buchalter, Inc does

Capital Growth Buchalter, Inc. (CGB) is a family-owned, vertically integrated commercial real estate development firm founded in 1953 by Aubrey Buchalter in Tuscaloosa, Alabama, and now headquartered in Birmingham, AL. The third-generation Buchalter-led company has completed more than 1,500 projects spanning 14M+ square feet and $2.5B in cumulative project value across 28-30 states, with stated operational throughput of approximately 90 projects per year over the past three years. Leadership is currently shared by Managing Principals and Co-Chairmen Robert and Bill Buchalter, who consolidated The Buchalter Company with Capital Growth Properties in 2007 to form the current entity, supported by COO/General Counsel Chad Post, CFO Jerry D. Phillips, and regional managing principals in Atlanta, Charlotte, Lake Charles, and Tuscaloosa.

The firm delivers an end-to-end service stack covering development (retail, medical, mixed-use/multi-family, office and industrial, and self-storage), acquisitions (value-add, operator joint ventures, redevelopment, sale-leaseback), co-development, investment, brokerage, and property management. Its underlying platform combines site selection, land acquisition, entitlements and permitting, construction management, lease-up coordination, and ongoing property management. CGB's distinguishing program-level offerings are multi-decade preferred developer partnerships - most notably a 23+ year, $1.2B+ relationship with Dollar General covering roughly 800 stores across 15 states - alongside joint venture sale-leaseback and development programs with QSR franchisees (45+ Taco Bell franchisee projects across six states), and large mixed-use developments such as Lofts at City Center ($100-120M), Northriver Commons ($60M partnership with Spaces Management), Commons North ($50M+), and Northport Corners/Northwood Crossings ($41M+ redevelopment). Customer logos span national retailers (Publix, Walmart, Aldi, Hobby Lobby, Ulta, CVS, Aspen Dental, Texas Roadhouse, Whataburger) and QSR brands (Starbucks, Chipotle, Popeyes, Zaxby's, Milo's, Surcheros).

Revenue is generated through developer and construction management fees on a project-by-project basis, transaction fees on acquisitions and sale-leasebacks, co-investment promote economics from real estate joint ventures alongside capital partners, brokerage commissions, and ongoing property management fees. Pricing is not publicly disclosed; small-format preferred developer projects run in the $1-3M range while mixed-use projects exceed $50M. GTM is primarily enterprise field sales executed by managing principals and regional leaders, augmented by a broker/developer partnership program and a digital property listings portal, with industry engagement through 27-year memberships in ICSC and ULI. The headcount of 51-100 is supported by offices in Birmingham, Atlanta, Charlotte, Lake Charles, and Tuscaloosa.

Name

Capital Growth Buchalter, Inc

Legal name

Capital Growth Buchalter LLC

Website

https://cgbuchalter.com

Company type

Private

Founded year

1953

Operating status

Operating

Headcount range

51–100 employees

Short description

Capital Growth Buchalter is a family-owned, Birmingham-based commercial real estate development firm founded in 1953. It delivers vertically integrated development, acquisition, co-development, brokerage, and property management services to national retailers, restaurant chains, and franchisees across 28-30 U.S. states.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Development

NAICS

Nonresidential Property Managers (531312)

SIC

Real Estate Dealers (For Their Own Account) (6532), Real Estate Agents & Managers (For Others) (6531), Investors, Nec (6799), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Real Estate Development Asset Management (Project/Construction-to-Stabilization) (BPAJAMAL)

akta.pro secondary industries

Real Estate Portfolio & Fund Management (Institutional/REIT/PE) (BPAJAMAJ), Commercial Real Estate Asset Management (BPAJAMAB)

Keywords

• Commercial real estate development
• Preferred developer programs
• Build-to-suit construction
• Real estate acquisitions
• Sale-leaseback financing

Headquarters

HQ city

Birmingham

HQ country

United States

HQ region

North America

Offices5 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Development Fees: CGB earns development fees for turnkey ground-up development, build-to-suit, and construction management services. Projects range from simple single-tenant net lease to complex mixed-use developments spanning hundreds of thousands of square feet.
2. Property Acquisition and Disposition: Company purchases underperforming or undervalued commercial properties, redevelops or repositions them, and sells to institutional buyers or retains for ongoing income. Examples include Northport Corners and Northwood Crossings ($41mm+ redevelopment).
3. Sale-Leaseback Transactions: CGB purchases real estate from operating companies (franchisees, retailers) and leases it back, providing capital to operators while securing long-term tenant relationships. Partnered with Taco Bell franchisees on 45+ projects via this structure.
4. Real Estate Investment Returns: Company co-invests alongside capital partners in development projects, including joint ventures with private equity sources for student housing and multifamily developments like Lofts at City Center.

Go-to-market motion2 records

Distribution channels5 records

Marketing channels9 records

Core offering

Capital Growth Buchalter is a vertically integrated commercial real estate development, investment, and management firm that delivers turnkey ground-up development, build-to-suit, value-add acquisitions, sale-leaseback financing, redevelopment, co-development, brokerage, and property management services across retail, medical, mixed-use/multi-family, office & industrial, and self-storage property types. The firm operates as a long-term preferred developer for national retailers and franchisees, executing multi-state programs such as the Dollar General Preferred Development Program (800+ locations, $1.2B+ in project value) and the Taco Bell Franchisee Partnership Program (45+ projects across six states).

Product overview

Capital Growth Buchalter operates as a vertically integrated commercial real estate development, investment, and management firm offering a comprehensive suite of services including Development (retail, medical, mixed-use/multi-family, office & industrial, self-storage), Acquisitions (value-add, joint-ventures, redevelopment, sale-leaseback), Co-Development Services, Investment, Brokerage, and Property Management. The company's core offerings include specialized preferred developer programs such as the Dollar General Preferred Development Program (800+ locations, $1.2B+ value) and Taco Bell Franchisee Partnership Program (45+ projects across six states). Notable named projects include Lofts at City Center (mixed-use student housing, $120mm+), Commons North (mixed-use transformation, $50mm+), and Northriver Commons (upcoming $60mm mixed-use development). The portfolio spans properties across 28-30 states with projects ranging from simple single-tenant net lease developments to complex multi-decade preferred development programs.

Differentiator

Problem solved

Functional benefit

Products and services

• Development Services

Quantifiable outcome

• $2.5B in total project value created across 1,500+ projects
• +6 more outcomes

Named customers16 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

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

• Spaces ManagementcoreStrategic or Co-development Partner · 1 September 2022Tuscaloosa-based property management and development firm partnering with CGB on the $60M Northriver Commons mixed-use development. Spaces Management brings condo/association management and student housing expertise. Founded in 2005, the firm manages 1,100+ multifamily units and 6,000 condo/HOA units in Alabama, with expansion into Huntsville.
• Capstone Collegiate CommunitiescoreStrategic or Co-development Partner · 1 January 2011Student housing developer that co-invested with CGB in the Lofts at City Center development. Capstone has developed or manages 30+ similar complexes in college towns including Gainesville FL, Baton Rouge LA, Columbia MO, and Auburn AL. The partnership created a 1,226-bed upscale student housing component within the mixed-use development.
• Dollar General CorporationflagshipStrategic or Co-development Partner23-year preferred development partnership. CGB is one of Dollar General's longest-standing preferred developers, having completed approximately 800-875 locations in 15+ states. Project value exceeds $1.2B with 7.3M+ square feet developed. CGB handles site selection, entitlements, and turnkey development in highly regulated and difficult markets.
• Tacala Cos. (Taco Bell Franchisee)coreStrategic or Co-development PartnerMulti-state Taco Bell franchisee partner on 45+ projects across 6 states. CGB buys real estate and handles sale-leaseback transactions while the franchisee acquires and operates restaurants. Projects valued at $1-3mm each. Partnership includes Fultondale, Pinson, Montevallo, Tattersall Park, Columbiana, and Warrior, AL locations.
• SRS Real Estate PartnersminorChannel Partner/ Reseller/ DistributorCommercial real estate services firm representing restaurant clients. Chris Routledge of SRS brought Surcheros as tenant for CGB's Downtown Alpharetta redevelopment site. SRS works to provide retail and commercial real estate services that evolve to meet client needs.
• Dollar General Municipal LeadersminorGTM or Marketing PartnerMunicipal government leaders in Dollar General markets (Fenton LA Mayor Eddie Alfred, Leeton MO Mayor Taylor Elwell, Pine Bluffs WY Mayor Alan Curtis) have publicly praised CGB's professional coordination and communication in Dollar General developments, generating positive community relations and economic development outcomes.
• Texas RoadhouseminorGTM or Marketing PartnerRestaurant chain partnered with CGB on community giving initiatives including feeding first responders during COVID-19 pandemic. Joint efforts delivered meals to Tuscaloosa police/firefighters and Birmingham homeless families during holiday seasons.
• Elyton HotelminorGTM or Marketing PartnerBirmingham hotel that partnered with CGB and City of Birmingham to host and prepare holiday meals for 165 documented homeless families at Boutwell Auditorium.
• UAB Athletics / Blazers Care ProgramminorGTM or Marketing PartnerUAB Athletics program where CGB serves as founding/championing corporate partner. Robert Buchalter is UAB Athletics Foundation Board member. The Blazers Care Program allows companies to donate game tickets to underprivileged youth organizations through UAB football and basketball season tickets.
• Sharp Realty & Management LLCminorStrategic or Co-development PartnerBirmingham-based real estate firm co-owned by Sam Sharp. Partnered with Robert Buchalter on Northwood Crossings and Northport Corners shopping center acquisitions and redevelopment. Both firms are full-service real estate companies that own, lease, develop, and manage retail and office properties.

Scale indicators9 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• Cousins Properties: Atlanta-based REIT focused on Class A office and mixed-use developments in Sunbelt growth markets. Comparable in Sunbelt mixed-use development expertise and Atlanta regional presence, though Cousins is office-led and publicly traded.
• Brixmor Property Group: One of the largest publicly traded open-air shopping center owners and operators in the U.S. Overlaps with CGB in serving national grocery, discount, and QSR tenants, though Brixmor's platform is much broader and balance-sheet driven.
• Federal Realty Investment Trust: Public REIT focused on mixed-use and open-air shopping centers in affluent U.S. markets. Comparable in mixed-use execution (Lofts at City Center, Commons North) and in serving high-quality national retail tenants, though with a stronger coastal tilt.
• Kite Realty Group: Public REIT operating open-air shopping centers primarily in the Sunbelt and Midwest. Comparable as a Sunbelt-focused retail center owner/operator serving similar national tenant mix, though with public market capital access and broader scale.
• Phillips Edison & Company: Nationally focused shopping center REIT and developer that owns and operates grocery-anchored retail centers. Comparable as a large-scale retail developer/owner serving similar national tenant base, though with substantially larger public capital base.
• Regency Centers Corporation: Public REIT focused on grocery-anchored shopping centers across high-growth Sunbelt and coastal markets. Direct overlap with CGB's Publix-anchored and grocery-anchored development work, with similar tenant profiles and geographic emphasis.

Emerging players

• Branch Properties: Smaller-scale retail real estate developer and acquirer focused on value-add shopping center opportunities across the Southeast. Comparable in business model (acquisition + redevelopment of grocery-anchored centers) and target geography, though smaller in scale.

Direct peers

• The Shopping Center Group: Atlanta-based retail real estate services firm providing brokerage, leasing, and investment sales across the Southeast. Directly comparable as a regional retail-focused real estate firm serving similar tenants and geographies, albeit with a brokerage-led rather than developer-led model.
• SRS Real Estate Partners: National commercial real estate services firm representing retail and restaurant tenants in site selection and transactions. Already works with CGB as a channel partner (Surcheros deal) and is directly comparable as a transaction-services firm serving the same national QSR/retail client base.
• Ben Carter Enterprises: Atlanta-based commercial real estate developer focused on retail, mixed-use, and entertainment-anchored projects across the Sunbelt. Directly comparable as a regional preferred-developer serving national tenants with comparable project sizes and geographies.

Market position

Strengths1 record

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xtwitter.com/cgbuchalter
• Facebookfacebook.com/Capital-Growth-Buchalter-241258616797957
• LinkedInlinkedin.com/company/capital-growth-buchalter
• Instagraminstagram.com/cgbuchalter

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

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

M&A

Investments1 record

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

Frequently asked questions about Capital Growth Buchalter, Inc