Specht Properties

What Specht Properties does

Specht Properties is a privately held, Portland, Oregon-based commercial real estate development, construction management, and property management firm operating through two affiliated Oregon corporations: Specht Properties, Inc. (incorporated 1990) and Specht Development, Inc. (formed 1992). Founder Greg Specht has been active in real estate since 1975, and the enterprise has cumulatively developed or managed over 14 million square feet of commercial and industrial space with a cost basis exceeding $1 billion across Oregon, Washington, and Idaho. The firm delivers four integrated service lines — Development & Acquisitions, Construction Management, Property Management, and Consulting — primarily to institutional investors, private property owners, government/municipal clients, and corporate end-users.

Revenue is generated through project-specific, quote-based fees across development services (sourcing, due diligence, underwriting, financing, entitlements, lease negotiations for affiliated entities and third parties), construction management (due diligence, team assembly, construction administration, entitlements, permitting, budget and schedule oversight), and managed property services (tenant relations, maintenance, financial reporting). The firm repeatedly co-invests with tier-1 institutional capital partners including Ares Management, DWS/RREEF, Guggenheim Partners, and New York Life Real Estate Investors, structuring joint ventures on individual projects rather than raising fund capital.

Specht's GTM is enterprise field sales, driven by direct relationships, NAIOP and industry event participation, project portfolio showcases, and referrals — a model that has produced over 100 completed projects and a portfolio spanning industrial distribution centers, corporate headquarters, civic facilities (LEED Gold-certified Hillsboro Civic Center, Wilsonville City Hall), mixed-use developments (Lovejoy Blocks), and tribal hospitality consulting (Ilani Casino). Headcount is approximately 7 core professionals organized as CEO (Greg Specht), President (Brent Hedberg, effective December 2024), VP of Construction, Project Manager, Controller, Administrative Assistant, and Office Manager, indicating a high-leverage operating model relative to project scale.

Name

Specht Properties

Legal name

Specht Properties, Inc.

Website

https://spechtprop.com

Company type

Private

Founded year

1990

Operating status

Operating

Headcount range

11–50 employees

Short description

Specht Properties is a Portland-based private commercial real estate firm offering development, construction management, property management, and consulting services across the Pacific Northwest. It serves institutional investors, government entities, and corporate users, having developed over 14 million square feet and $1 billion in project cost basis since 1990.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Development

NAICS

Real Estate Property Managers (53131), Corporate, Subsidiary, and Regional Managing Offices (551114)

SIC

Land Subdividers & Developers (No Cemeteries) (6552), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

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

akta.pro secondary industry

Real Estate Transaction Advisory & Due Diligence (FSAEAJAJ)

Keywords

• Commercial real estate development
• Property management services
• Construction management
• Real estate acquisitions
• Build-to-suit development

Headquarters

HQ city

Portland

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Development Services: Development services as developer and manager for real estate projects ranging from large-scale industrial buildings to downtown high-rises and manufacturing facilities. Generates fees through development services for affiliated entities and third-party clients.
2. Property Management Services: Property management services tailored to meet specific objectives of property owners and investors, aiming to optimize property performance and mitigate inefficiencies. Services include tenant relations, maintenance, and financial reporting.
3. Construction Management Services: Construction-related services including due diligence management, development team assembly and oversight, construction administration, entitlements and permitting, and budget and schedule management.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

Specht Properties is a commercial real estate development and property management firm delivering Development & Acquisitions, Construction Management, Property Management, and Consulting Services for institutional investors, property owners, government entities, and corporate clients. The firm manages the full project lifecycle from sourcing and due diligence through construction administration and ongoing property operations across industrial, office, civic, and mixed-use assets in Oregon, Washington, and Idaho.

Product overview

Specht Properties operates as a unified commercial real estate development and property management company offering four integrated core services: Development & Acquisitions, Construction Management, Property Management, and Consulting Services. The company operates through two primary entities - Specht Development, Inc. (formed in 1992) handles development and acquisition services, while Specht Properties, Inc. (formed in 1990) manages properties and provides construction management. Together they deliver projects from conception through delivery and ongoing management, serving clients across Oregon, Washington, and Idaho.

Differentiator

Problem solved

Functional benefit

Products and services

• Development & Acquisitions Real estate development and acquisition services including sourcing new development opportunities, due diligence, financial analysis, debt and equity financing, entitlements, and lease negotiations. Targeted at institutional investors, property owners, government entities, and corporate users across Oregon, Washington, and Idaho.
• Construction Management Construction management services including due diligence, project team coordination, construction administration, entitlements and permitting, and budget and schedule management for commercial, industrial, civic, and mixed-use projects. Targeted at property owners, institutional investors, government entities, and corporate clients.
• Property Management Property management services for industrial, office, and retail properties including tenant relations, maintenance, financial reporting, and value maximization for property owners and investors. Delivered in partnership with Capacity Commercial Group for leasing and asset management support.
• Consulting Services Construction and project management consulting services provided to third-party clients on a fee basis, including advisory services for owners and developers. Targeted at owners, tribal entities, and developers needing construction advisory expertise.

Quantifiable outcome

• Delivered Ridgefield Industrial Center (468,810 SF) fully leased within two months of completion
• +2 more outcomes

Named customers13 records

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Ten partnerships are on record, tiered core and major.

• Port of PortlandcoreStrategic or Co-development Partner · 1 December 2020Master Development Agreement executed in December 2020 to develop Lot 5 (GV5) in the Gresham Vista Business Park, approximately 48 acres. Specht will develop GV5 focused on diversity, equity, and inclusion.
• Colas Development GroupcoreStrategic or Co-development Partner · 1 December 2020Serving as co-developer of GV5 project in partnership with Specht Development, Inc. Focused on implementing DEI strategy throughout the development.
• Colas Construction, Inc.coreImplementation/ SI/ Consulting Partner · 1 December 2020Serving as co-general contractor for GV5 development project.
• MackenziemajorImplementation/ SI/ Consulting Partner · 1 December 2020Architect and engineer for GV5 project. Also serves as architect for Ridgefield Industrial Center and other projects.
• Perlo ConstructionmajorImplementation/ SI/ Consulting Partner · 1 December 2020Co-general contractor for GV5. General contractor for Ridgefield Industrial Center, Portside Logistics Park, Vista Logistics Park, and numerous other projects.
• Jones Lang LaSallemajorChannel Partner/ Reseller/ Distributor · 1 December 2020Serving as real estate broker for GV5 project.
• Capacity Commercial GroupmajorChannel Partner/ Reseller/ DistributorPartnership with Capacity Commercial Group for Property and Asset Management services. Capacity Commercial Group also serves as leasing broker for various projects.
• Port of Vancouver USAmajorStrategic or Co-development PartnerSite selection and land acquisition for Farwest Steel Service Center project. Negotiated sale of Port land to Farwest with long-term job-creation commitments.
• OpsismajorImplementation/ SI/ Consulting PartnerDesign team for Happy Valley Community Recreation Center project.
• Pence ConstructionmajorImplementation/ SI/ Consulting PartnerConstruction Manager/General Contractor for Happy Valley Community Recreation Center project.

Scale indicators5 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Panattoni Development Company: One of the largest privately held industrial real estate developers in the U.S., with major speculative and build-to-suit activity in the Pacific Northwest including Portland-metro — directly comparable to Specht's core industrial focus and JV-driven model.
• Capstone Partners: Pacific Northwest commercial real estate investment and development firm with industrial and office focus; comparable in scale and approach to Specht's developer/investor JV model.
• Pence Construction: Pacific Northwest general contractor/construction manager that has worked with Specht on civic and industrial projects (e.g., Happy Valley Community Recreation Center) and competes for similar CM mandates.
• Perlo Construction: Pacific Northwest general contractor co-developing GV5 with Specht and serving as GC on multiple Specht industrial projects; comparable regional construction services peer.

Broad incumbents

• Trammell Crow Company: National commercial real estate developer with industrial, office, and mixed-use capabilities; competes with Specht in Pacific Northwest industrial and build-to-suit corporate projects.
• Howard S. Wright (a Balfour Beatty company): Major Pacific Northwest construction management and general contracting firm; overlaps with Specht's construction management services and competes for similar civic and commercial project mandates.
• Prologis: Largest global industrial REIT and developer; competes with Specht for large institutional industrial build-to-suit mandates (e.g., Amazon-type leases) in the Pacific Northwest, though at much greater scale.

Regional players

• Kidder Mathews: One of the largest independently owned commercial real estate firms in the Pacific Northwest, offering brokerage, property management, and project management services overlapping with Specht's regional service stack.
• Macadam Forbes: Portland-based commercial real estate development and investment firm active in Oregon and Washington industrial, office, and mixed-use projects; directly comparable regional competitor to Specht.
• Mackenzie: Pacific Northwest architecture and engineering firm serving as design partner on multiple Specht projects (Ridgefield, GV5); competes in adjacent professional services for the same regional project pipeline.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 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 Specht Properties