Petrovich Development Company

What Petrovich Development Company does

Petrovich Development Company (PDC) is a Sacramento, California-based, fully integrated commercial real estate developer founded in 1980 by Paul Petrovich. The company specializes in infill retail properties throughout Northern California, with a portfolio spanning regional power centers, mixed-use urban core retail centers, and a 60-acre university village with student housing, totaling over 4 million square feet of developed or pre-development projects. PDC also operates a single retail property in Austin, Texas, and has launched a luxury residential loft product above its R Street Market center in Sacramento.

PDC controls the entire development value chain in-house, including land acquisition, assemblage, planning, entitlements (with deep CEQA expertise and an unblemished entitlement record), financing, construction management, leasing, property management, in-house legal, and asset management. The company is 100% owned by Paul and Cheryl Petrovich with no outside investors. Its customer base comprises more than 35 national and regional retail tenants — including Target, Costco, Walmart, Walgreens, Rite Aid, Safeway, Lowe's, Home Depot, Starbucks, McDonald's, and In-N-Out — anchoring PDC's centers, supplemented by regional and local shop tenants. Technology usage is limited to standard industry tools (Bluebeam for construction management, state-of-the-art financial reporting systems) with no proprietary platform or AI capabilities disclosed.

PDC's revenue model centers on long-term commercial leases (anchor and shop space) with base rent, percentage rent, and triple-net (NNN) charges, supplemented by in-house property management and long-term asset management of the owned portfolio. The company has built over $500 million of projects for Rite Aid and Safeway in the greater Sacramento region and is currently developing a pipeline exceeding $400 million. PDC has maintained portfolio occupancy of at least 97% across economic cycles, and its projects are described by tenants as producing market-high rents and market-low cap rates due to strategic site selection at high-traffic infill locations.

Name

Petrovich Development Company

Legal name

Petrovich Development Company

Website

https://petrovichdevelopment.com

Company type

Private

Founded year

1980

Operating status

Operating

Headcount range

11–50 employees

Short description

Petrovich Development Company is a Sacramento-based, family-owned commercial real estate developer specializing in infill retail centers across Northern California. It operates as a fully integrated developer serving national anchor tenants and regional retailers across 4 million+ square feet of properties.

Ownership category

akta.pro rank

Headquarters

HQ city

Sacramento

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales

Revenue model

1. Commercial Real Estate Leasing: PDC generates primary revenue through long-term commercial leases with anchor tenants (national retail chains) and shorter-term leases with shop tenants. Lease structures include anchor leases and shop space leases across retail properties including regional power centers, mixed-use urban core retail centers, and neighborhood shopping centers. Revenue is realized through base rent, percentage rent, and triple-net (NNN) charges.
2. Property Management Services: PDC provides in-house property management for all its own developed projects, managing tenant relationships, maintenance, common area upkeep, and financial reporting. Property management revenue is generated through NNN charges that are described as below-market comparison for the industry.
3. Asset Management: As a fully integrated developer, PDC manages its own asset portfolio long-term, generating ongoing asset management value from owned properties. The company is 100% owned by Paul and Cheryl Petrovich with no outside investors, retaining full control over asset decisions and associated revenue streams.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Core offering

PDC is a fully integrated commercial real estate development company that develops, leases, and manages retail shopping centers throughout Northern California and Texas. The company handles the full development lifecycle in-house — land acquisition, assemblage, planning, entitlements, financing, construction management, leasing, property management, legal, and asset management — and leases the resulting space to national anchor tenants and regional/local shop tenants. PDC also operates a small residential rental property (Penthouse Lofts) above its R Street Market Shopping Center.

Product overview

Petrovich Development Company (PDC) is a fully integrated commercial real estate development company specializing in unique retail properties throughout northern California. The company operates a portfolio of retail shopping centers across California and Texas, along with residential rental properties (The Penthouse Lofts). The core service offering includes end-to-end development services encompassing land acquisition, assemblage, planning, entitlements, financing, construction management, leasing, property management, in-house legal, and asset management. The company has developed over 4 million square feet of commercial and residential projects including regional power centers, mixed-use urban core retail centers, and a 60-acre university village with student housing.

Differentiator

Problem solved

Functional benefit

Products and services

• The Boulevard Retail shopping center located at Howe Avenue & Fair Oaks Blvd in Sacramento, CA, available for lease through PDC's direct leasing channel.
• Crocker Village Shopping Center Retail shopping center located at Sutterville Road & Crocker Road, available for lease through PDC.
• Woodland Gateway Shopping Center Retail shopping center located at County Rd. 102 & Interstate 5 in Woodland, CA, available for lease through PDC.
• R Street Market Shopping Center Mixed-use retail shopping center located at 19th & S Street in Sacramento, CA, anchored by Safeway (R Street Market) and integrated with the Penthouse Lofts residential property above.
• Stone Pointe Shopping Center Retail shopping center located at Sutterville Road & Freeport Blvd. in Sacramento, CA, available for lease through PDC.
• Fair Oaks Promenade Retail shopping center located at NEC Madison & Hazel Avenues in Fair Oaks, CA, available for lease through PDC.
• Granite Market Place Retail shopping center located at I-80 & Sierra College Blvd. in Rocklin, CA, available for lease through PDC.
• Calvine Pointe Retail shopping center located at Calvine & Elk Grove Florin Roads in Elk Grove, CA, available for lease through PDC.
• The Grove Retail shopping center located at SEC Gerber & Elk Grove Florin Roads, available for lease through PDC.
• The Shops at Plumas Lake Retail shopping center located at Plumas Lake & River Oaks Blvd. in Plumas, CA, available for lease through PDC.
• Placer Village Shopping Center Retail shopping center located at Baseline Rd & Watt Avenue in Roseville, CA, available for lease through PDC.
• East & Main Retail property located at East & Main Streets in Woodland, CA, available for lease through PDC.
• Cannon Crossing Shopping Center Retail shopping center located at 4014 W William Cannon Dr in Austin, Texas, available for lease through PDC.
• Alhambra Retail property located on Alhambra Boulevard in Sacramento, CA, available for lease through PDC.
• The Penthouse Lofts @ R Street Market Luxury residential loft rentals offering updated flooring, lighting, and views of S Street, located above the R Street Market Shopping Center in Sacramento, CA.
• Development Services Full-service, fully integrated real estate development capabilities including Land Acquisition, Assemblage, Planning, Entitlements (including CEQA), Financing, Construction Management, Leasing, Property Management, In-House Legal, and Asset Management, delivered entirely in-house by PDC.

Quantifiable outcome

• Over 4 million square feet of commercial real estate developed or in pre-development pipeline
• +5 more outcomes

Named customers38 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators7 records

Recent moves5 records

Expansion highlights5 records

Regional players

• Shea Properties: Shea Properties is the commercial real estate arm of Shea Homes, a California-based developer operating mixed-use, retail, office, and multifamily properties primarily in the western U.S. Its California infill development focus and mixed-use retail/residential strategy closely parallel PDC's Northern California portfolio and university village model.
• RPA (Retail Planning Associates / Donahue Schriber successor): Donahue Schriber was a California-based shopping center owner/developer focused on grocery-anchored retail in infill West Coast markets, with a similar tenant mix and regional strategy to PDC. Its successor entities continue comparable West Coast retail development, positioning them as a regional peer with overlapping customer base and competitive set.
• Lewis Operating Corp: Lewis Operating Corp is a Southern California-based family-owned real estate developer specializing in master-planned communities and commercial developments. As a privately held, regional California developer with mixed residential/retail expertise, Lewis is a structural and geographic analog to PDC's integrated Northern California operation.

Broad incumbents

• Simon Property Group: Simon Property Group is the largest publicly traded retail REIT globally, owning and operating premier shopping centers, outlets, and mixed-use developments. As a broad incumbent in retail real estate, Simon competes for the same national anchor tenants (Target, Costco, Walmart) that PDC serves, but operates at much greater scale.
• Brookfield Properties: Brookfield Properties is a major global commercial real estate owner, operator, and developer with significant retail and mixed-use portfolios. It competes for premium retail development sites and anchor tenant relationships, serving as a broad incumbent comparable to PDC's integrated development and operating model.
• Kimco Realty: Kimco Realty is one of the largest publicly traded shopping center REITs in North America with a national footprint and similar grocery-anchored center focus. While broader in scale and geography than PDC, Kimco is the closest large-cap analog for PDC's anchor-plus-shop leasing model and infill development approach.

Direct peers

• Brixmor Property Group: Brixmor is a publicly traded shopping center REIT focused on open-air, grocery-anchored community centers, with a tenant mix of national anchors (Target, Walmart, Kroger) and shop space leasing highly comparable to PDC's portfolio and revenue model.
• Regency Centers Corporation: Regency Centers is a national grocery-anchored shopping center REIT with a comparable tenant mix (national retailers as anchors, regional/local shop tenants) and infill focus. PDC's fully integrated development and operating model mirrors Regency's value-add development capability, although Regency operates at far greater scale as a public REIT.
• Phillips Edison & Company: Phillips Edison is a neighborhood and community shopping center REIT focused on grocery-anchored centers with non-discretionary retail tenants, mirroring PDC's tenant strategy. The firm also pursues infill locations with strong demographics and operates an integrated acquisition/development platform similar to PDC's fully integrated model.
• Federal Realty Investment Trust: Federal Realty is a shopping center REIT specializing in mixed-use and open-air retail in infill coastal/urban markets, directly comparable to PDC's mixed-use urban core retail centers and infill shopping center strategy. Federal's tenant mix and high-traffic infill focus align closely with PDC's premium positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/PetrovichDevCo
• Facebookfacebook.com/profile.php

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 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 Petrovich Development Company