Propp Realty Management

What Propp Realty Management does

Propp Realty Management LLC is a privately held, founder-owned commercial real estate holding and self-managed property company founded by Denver native Daryll Propp in 1981 (the company also references the late 1970s as its origin). Headquartered at 12600 West Colfax Avenue in Lakewood, Colorado, the company owns and self-manages ten commercial office buildings totaling more than 722,000 square feet across the West Denver-metro area — specifically in Lakewood, Golden, and Wheat Ridge — with the portfolio clustered across North, Central, and South Jeffco submarkets. Buildings range from a 195,000 sq ft award-winning flagship (Golden Hill Office Center) and a 152,000 sq ft single-tenant government facility (VA Building, occupied through March 2035) down to a 6,349 sq ft Executive Suites property offering furnished offices, virtual offices, and shared receptionist/conference services. Customer segments span government tenants, professional services (legal, medical, dental), and small businesses, with the all-inclusive Full Service Gross lease model bundling utilities, janitorial, and common area maintenance into a single monthly payment. Beyond Colorado, the company — in partnership with the Kreke Family — operates a multi-product South Dakota resort and residential development in Spearfish comprising the Elkhorn Ridge at Frawley Ranches and Elkhorn Ridge Golf Estates residential communities, an 18-hole USGA-rated championship golf club, a 187-site RV resort with luxury cabins, the year-round Miller Creek Pub restaurant (opened 2020), and a 300-guest event center.

Revenue is generated through three streams: recurring commercial office leasing (the primary engine), recurring executive suites and virtual office subscriptions, and episodic residential/resort income in South Dakota including lot and home sales, RV site fees, golf, food & beverage, and events. Go-to-market is direct and phone-based — customers call (303) 233-4000 for lease and purchase inquiries — with no self-serve online leasing, no mobile application, and no disclosed technology platform. Pricing is quote-based and not publicly disclosed. The company employs 11-50 people (owner, office manager, leasing agent, executive suites manager, accounting, two maintenance engineers/supervisors, on-site maintenance techs, and seasonal help) plus long-tenured outside vendors, and is structured as a Colorado LLC with no institutional investment, no public listing, and no disclosed M&A activity. The Elkhorn Ridge RV Resort has received Good Sam's Top 100 and Wooddall's four-star ratings, and a 2010 Parade of Homes winner was delivered in the Frawley Ranches community, providing modest brand validation in the resort segment.

Name

Propp Realty Management

Legal name

Propp Realty Management LLC

Website

https://propprealty.com

Company type

Private

Founded year

1981

Operating status

Operating

Headcount range

11–50 employees

Short description

Propp Realty Management is a privately held, founder-owned Lakewood, Colorado real estate company that owns and self-manages ten commercial office buildings (722,000+ sq ft) across West Denver-metro, serving government, professional, and SMB tenants, plus a South Dakota resort and residential portfolio (RV resort, golf club, pub, event center) developed in partnership with the Kreke Family.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Services

NAICS

Lessors of Nonresidential Buildings (except Miniwarehouses) (53112), Real Estate Property Managers (53131)

SIC

Operators Of Nonresidential Buildings (6512), Hotels, Rooming Houses, Camps & Other Lodging Places (7000)

akta.pro primary industry

Office Property Management (BPAJAGAA)

akta.pro secondary industry

Master-Planned Community & POA Management (BPAJAHAD)

Keywords

• Commercial office leasing
• Property management services
• Executive office suites
• Commercial real estate holdings
• Residential resort development

Headquarters

HQ city

Lakewood

HQ country

United States

HQ region

North America

Offices10 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Commercial Office Space Leasing: Revenue from leasing office space across ten commercial office buildings in the Denver metro area (Lakewood, Golden, Wheat Ridge). Buildings range from small executive suites to large single-tenant government facilities. All-inclusive lease model includes utilities, janitorial, and common area maintenance.
2. Executive Suites and Virtual Offices: Furnished and unfurnished office suites with amenities including reception, conference rooms, internet, phone, copier, fax, mail services. Virtual offices for remote professionals.
3. Residential and Resort Development (South Dakota): Revenue from residential property sales at Elkhorn Ridge at Frawley Ranches and Elkhorn Ridge Golf Estates, plus resort operations including RV sites, luxury cabins, golf club, restaurant (Miller Creek Pub), and event center hosting weddings and conferences.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Propp Realty Management owns, leases, and self-manages ten commercial office buildings in the West Denver-metro area (Lakewood, Golden, Wheat Ridge, Colorado), providing all-inclusive leased office space, executive suites, and virtual offices to professional businesses and government tenants. The firm additionally develops and operates residential real estate, a championship golf club, an RV resort with luxury cabins, an event center, and a restaurant (Miller Creek Pub) in Spearfish, South Dakota, in partnership with the Kreke Family.

Product overview

Propp Realty Management is a commercial real estate management company offering a portfolio of ten office buildings across the West Denver-metro area in Colorado (Lakewood, Golden, and Wheat Ridge), plus residential and resort developments in Spearfish, South Dakota. The Colorado portfolio includes commercial office space ranging from small executive suites to large-scale multi-tenant buildings (195,000 Sq Ft), serving sectors including General Business, Legal, Medical, Dental, and Government. The South Dakota operations encompass Elkhorn Ridge residential developments, an RV resort with 187 sites and luxury cabins, an 18-hole championship golf club, and Miller Creek Pub restaurant. All Colorado properties are owner-operated and self-managed, offering amenities including fitness centers, free parking, and utilities included in lease payments.

Differentiator

Problem solved

Functional benefit

Products and services

• Golden Hill Office Center An award-winning 195,000 square foot facility in Lakewood, CO, comprised of three interconnected five-story buildings featuring natural lighting, fiber/WIFI internet, on-site deli, fitness center, and outdoor amphitheater seating 100. Targeted at general business, legal, medical, dental, and government tenants needing large multi-tenant office space.

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core and minor.

• Kreke FamilycoreStrategic or Co-development PartnerDaryll Propp and the Kreke Family partnered on South Dakota developments including Elkhorn Ridge at Frawley Ranches, Elkhorn Ridge Golf Estates, and Elkhorn Ridge Golf Club in Spearfish, South Dakota. The Kreke Family is a co-developer in these residential and resort developments.
• Elkhorn Ridge Golf Club MembersminorOthersGolf club members have access to 18-hole USGA Rated championship course, upscale practice facilities, double-ended driving range, and Miller Creek Pub dining. The club operates as part of the Elkhorn Ridge resort.

Scale indicators6 records

Recent moves6 records

Expansion highlights4 records

Direct peers

• LBA Realty: Private commercial real estate owner-operator focused on office and industrial properties across the Western US. Closest direct comparable as a privately-held owner of suburban office product, with a similar operating philosophy of direct ownership and self-management.
• Lincoln Property Company: One of the largest privately-held diversified real estate companies in the US, with office, industrial, multifamily, and student housing. Comparable as a major private CRE owner-operator running suburban office portfolios similar in product mix to Propp's Jeffco assets.
• The John Buck Company: Privately-held real estate investment and management firm focused on office, multifamily, and mixed-use assets in major US markets. Comparable as a private owner-operator that invests capital directly into and actively manages office properties.
• Clarion Partners: One of the largest privately-held real estate investment managers in the US, deploying capital across office, industrial, multifamily, and retail. Comparable as a private CRE capital allocator operating comparable suburban office strategies on behalf of long-duration capital.

Broad incumbents

• Brandywine Realty Trust: Publicly-traded office REIT focused on Philadelphia, Austin, and select Sun Belt/CBD submarkets. Comparable as an established suburban office owner-operator, though at meaningfully larger scale and public-market governance.
• Highwoods Properties: Publicly-traded office REIT focused on Sun Belt markets with a portfolio of suburban and CBD office properties. Comparable as an established owner of suburban multi-tenant office product, but operating at institutional scale across many more markets.
• CBRE Group: World's largest commercial real estate services and investment firm, providing advisory, transaction, property management, and investment services. Comparable as a broad incumbent in the same industry, though operating as a services platform rather than a direct property owner at Propp's scale.
• JLL: Global real estate services and investment management firm offering leasing, property management, capital markets, and advisory services. Comparable as a broad incumbent adjacent to Propp's office and investment management activities, though at vastly larger scale and as a services-led business.

Emerging players

• Equity LifeStyle Properties: Largest publicly-traded owner of RV resorts and manufactured housing communities in North America with more than 400 properties. Comparable for the Elkhorn Ridge RV Resort business model and guest experience offering, though operating at vastly greater scale.
• FivePoint Holdings: Real estate developer and homebuilder focused on large-scale master-planned communities in coastal California. Comparable as an owner-developer of master-planned residential communities anchored by a golf course and resort amenities, similar in concept to the Elkhorn Ridge at Frawley Ranches platform.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/ProppRealty
• Facebookfacebook.com/ProppRealty

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 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 Propp Realty Management