Name

HJ Development

Legal name

HJ Development

Website

https://hjdevelopment.com

Company type

Private

Founded year

1983

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Product category

Commercial Real Estate Services

NAICS

Real Estate Property Managers (53131), Lessors of Nonresidential Buildings (except Miniwarehouses) (531120), Nonresidential Building Construction (2362)

SIC

Operators Of Nonresidential Buildings (6512), Real Estate Operators (No Developers) & Lessors (6510)

akta.pro primary industry

Mixed-Use Property Management (BPAJAGAE)

Keywords

• Commercial real estate development
• Commercial property management
• Build-to-suit development
• Commercial property leasing
• Real estate asset management

Headquarters

HQ city

Minneapolis

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Property Acquisition: Acquiring existing real estate assets and implementing strategic asset management to maximize investment value. Properties are acquired as long-term holdings.
2. Real Estate Development: Developing new commercial projects, having developed more than half a million square feet over 25 years. Build-to-suit opportunities for retail, industrial, office, and medical uses.
3. Property and Asset Management: Managing a variety of real estate assets including class-A retail buildings, medical facilities, office, and industrial warehouses. Services include financial accounting, asset management, property management, and facility management resulting in tenant retention.
4. Leasing: Leasing available spaces to tenants across their portfolio of 2,700,000+ square feet and 420 tenants.
5. Advisory Services: Third-party property owner advisement including leasing, site listing and marketing, portfolio investment consultation, construction, accounting, and property services. Also includes tenant representation to source best locations for business owners.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

HJ Development acquires, develops, leases, and manages commercial real estate properties—including retail, industrial, office, and medical assets—across the Twin Cities metropolitan area. The company also provides third-party advisory services such as leasing, tenant representation, and property management for outside owners. Its portfolio exceeds 2,700,000 square feet with 420 tenants spanning 40+ communities, and it offers build-to-suit and ground lease opportunities for custom occupier requirements.

Product overview

HJ Development is a commercial real estate company operating since 1983 with a portfolio exceeding 2,700,000 square feet and 420 tenants across the Twin Cities metropolitan area. The company's core offering is commercial property services encompassing Build To Suit development (custom properties built to tenant specifications), For Lease opportunities (retail, office, industrial, medical, and restaurant properties), Fully Leased asset management, and Ground Lease pad sites. These property services are complemented by Property & Asset Management (managing class-A retail buildings, medical facilities, office, and industrial warehouses) and Tenant Representation & Advisory services (leasing, site listing, marketing, portfolio consultation, and tenant representation). The company specializes in retail, industrial, office, medical, and land property types across Minnesota communities including Minneapolis, St. Paul, and surrounding suburbs.

Differentiator

Problem solved

Functional benefit

Products and services

• Build To Suit Custom commercial real estate development service where properties are built according to tenant specifications; offers sale, lease, or build-to-suit opportunities across retail, industrial, office, and medical uses. Targeted at business owners seeking purpose-built facilities in growing Twin Cities communities, with sites such as Brooklyn Park Commercial Site (up to 30,000 SF buildable, divisible to 1,500 SF) and Lakeville Land Site (2.19 Acres).
• Commercial Property For Lease Commercial properties available for tenant lease across retail, office, industrial, medical, and restaurant sectors in the Twin Cities metropolitan area. Listings include negotiable lease rates and tenant improvement (TI) allowances, distributed through the company website and an internal leasing team.
• Ground Lease / Pad Site Land available for long-term ground lease with pad site opportunities for retail, medical office, and restaurant uses. Co-marketed with development partners such as GHS Development for mixed-use projects including Ulysses Crossroads in Blaine, MN.
• Property and Asset Management Full-service property and asset management for retail, medical, office, and industrial properties, including financial accounting, tenant retention, asset management, property management, and facility management services offered both to the company's own portfolio and to third-party property owners.
• Tenant Representation and Advisory Services Advisory services for third-party property owners and tenants, including leasing, site listing and marketing, portfolio investment consultation, construction consultation, accounting, and property services. Includes tenant representation to source optimal locations for both large and small business owners.
• Commercial Property For Sale Commercial land and properties available for outright sale, including sale-ready sites with buildable square footage and divisible acreage. Example: Lakeville Land Site — 2.19 Acres, $1,431,000 sale price, with sale/lease/build-to-suit opportunities.

Quantifiable outcome

• 2,700,000+ square feet of commercial real estate under management
• +3 more outcomes

Named customers31 records

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core and supporting.

• GHS DevelopmentcoreStrategic or Co-development PartnerJoint development partnership for Ulysses Crossroads mixed-use project in Blaine, MN. GHS Development co-markets the ground lease opportunities alongside HJ Development. Nick Gervais from GHS Development is the contact for the project.
• Cushman & WakefieldsupportingChannel Partner/ Reseller/ DistributorCommercial brokerage partnership for Jefferson Business Center industrial property. Cushman & Wakefield brokers (Brent Masica, Jason Meyer, Hudson Brothen) handle industrial leasing alongside HJ Development's direct team.
• NewmarksupportingOthersBrokerage/advisory partner for Savage Crossings acquisition. Bob Pounds at Newmark provided transaction advisory services.

Scale indicators5 records

Direct peers

• The Opus Group: Minneapolis-based commercial real estate developer, owner, and manager with a multi-decade track record across office, industrial, retail, and medical. Closely comparable in terms of geography, full-stack service model, and mixed-use portfolio focus.
• The Excelsior Group: Minneapolis-based real estate investment, development, and management firm operating multifamily, retail, and commercial assets in the Upper Midwest. Comparable as a Twin Cities-rooted, multi-product, vertically integrated CRE operator.
• Continental Properties: Privately held national developer, owner, and operator of retail centers and multifamily housing with a strong Midwest footprint. Comparable mixed-use retail/multifamily model and similar tenant-anchored development approach.
• Mid-America Real Estate Group: Midwest-focused retail real estate services firm providing investment, leasing, and management for shopping centers. Highly comparable given its regional retail specialization and tenant-mix focus.
• Pine Tree Commercial Realty: Privately held retail-focused commercial real estate firm specializing in grocery-anchored and multi-tenant shopping centers. Comparable portfolio composition and target tenant base (national/regional retailers and grocers).

Broad incumbents

• Phillips Edison & Company: Public REIT (PECO) focused on grocery-anchored shopping centers across the U.S. Comparable asset class (necessity-based retail) and tenant profile, though significantly larger and more geographically diversified.
• Realty Income Corporation: Public net-lease REIT that owns a large portfolio of single-tenant retail, industrial, and medical properties. Comparable mix of asset types and long-term lease model, but operates at vastly greater scale and as a public company.
• First Industrial Realty Trust: Public industrial-focused REIT with a national portfolio of warehouse, distribution, and light industrial properties. Comparable industrial segment of HJ's portfolio, though at a much larger scale and as a public company.
• Colliers International: Global commercial real estate services firm offering investment sales, leasing, property management, and advisory across all major asset classes. Comparable as a provider of third-party advisory and management services, though operating globally.

Others

• Cushman & Wakefield: Global commercial real estate services firm that is both a partner (industrial leasing) and a broadly comparable peer through its leasing, property management, and investment advisory offerings across retail, office, and industrial.

Market position

Strengths1 record

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/hj-development

Revenue estimate

Valuation estimate

Number of profiles

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 HJ Development