Upland Real Estate Group

What Upland Real Estate Group does

Upland Real Estate Group, Inc. is a Minneapolis-based commercial real estate brokerage and investment company founded in 1995. The firm operates two distinct service divisions: a core Brokerage team offering tenant representation, landlord representation, and corporate services, and a separate Net Lease Sales team (operating via nnnsales.com) focused on single-tenant net lease investment properties. Across its 30-year history, Upland has completed over $3 billion in transactions and leased more than 8 million square feet, serving property owners, developers, investors, tenants, and corporate clients across retail, office, industrial, mixed-use, medical, and land property types.

The firm's underlying platform is a relationship-driven brokerage operation supported by market intelligence tooling, including drive-time demographic analysis, rental rate and lease/sale comparables, and digital property listing management distributed through the upland.com website and a third-party CRE platform presence on CoStar and Crexi. Upland maintains active affiliations with CCIM, ICSC, MNCAR, Retail Brokers Network, MSCA, and CoStar/Crexi, and has earned industry recognition including the 2024 Crexi Platinum Sales Award and the CoStar Power Broker Award. The team of approximately 14 professionals includes multiple CCIM designees and is led by Principal & CEO Keith A. Sturm.

Upland's business model is commission-based, with revenue generated as a percentage of transaction value across leasing, acquisitions, and dispositions for both landlord and tenant representation. Distribution is direct and field-based, with brokerage and net lease sales teams engaging clients primarily across the Upper Midwest (Minnesota, Wisconsin, Illinois, North Dakota) while claiming nationwide transaction reach. Pricing is not publicly disclosed and is negotiated on a deal-by-deal basis. The firm is privately held, with no disclosed external investors, funding, or parent company.

Name

Upland Real Estate Group

Legal name

Upland Real Estate Group, Inc.

Website

https://upland.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

11–50 employees

Short description

Upland Real Estate Group is a Minneapolis-based commercial real estate brokerage founded in 1995, offering tenant representation, landlord representation, corporate services, and net lease investment sales to property owners, tenants, investors, and corporate clients across the Upper Midwest.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Brokerage

NAICS

Offices of Real Estate Agents and Brokers (5312), Offices of Real Estate Agents and Brokers (53121), Nonresidential Property Managers (531312)

SIC

Real Estate Agents & Managers (For Others) (6531), Real Estate (6500)

akta.pro primary industry

Property Management Advisory & Leasing Administration (FSAEAJAN)

akta.pro secondary industries

Real Estate Market Research & Economic Advisory (Demand/Supply, Location Analytics) (BPAJANAD), Land Brokerage (Raw Land & Development Sites) (FSAEAJAD)

Keywords

• Commercial real estate brokerage
• Net lease investment sales
• Tenant representation services
• Landlord representation services
• Corporate real estate services

Headquarters

HQ city

Minneapolis

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Commercial Real Estate Brokerage Commissions: Commission-based revenue from facilitating commercial real estate transactions including leasing, acquisitions, and dispositions. Fees are typically charged as a percentage of transaction value for sales and lease transactions for both landlords and tenants.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

Upland Real Estate Group is a Minneapolis-based commercial real estate brokerage and investment company that facilitates leasing, acquisitions, and dispositions of retail, office, industrial, medical, mixed-use, and land properties through two specialized teams: Brokerage Services and Net Lease Sales. The firm represents commercial property owners, tenants, investors, and corporate clients across the Upper Midwest, providing tenant representation, landlord representation, corporate services, and net lease investment sales supported by drive-time demographics and market intelligence.

Product overview

Upland Real Estate Group is a Minneapolis-based commercial real estate brokerage and investment company offering two distinct service divisions: Brokerage Services and Net Lease Sales. The Brokerage division provides full-service solutions including Tenant Representation, Landlord Representation, and Corporate Services, supported by specialized sub-services such as Strategic Marketing Plans, Leasing Overviews, Market Demographics, and Retail Brokerage expertise. The Net Lease Sales division handles single-tenant investment property transactions. Together, these services support property owners, developers, investors, and tenants through leasing, acquisitions, and dispositions of retail, office, industrial, and land properties across the upper Midwest.

Differentiator

Problem solved

Functional benefit

Products and services

• Brokerage Services Full-service commercial real estate brokerage solutions including leasing, acquisitions, and dispositions of retail, office, industrial, medical, mixed-use, and land properties for property owners, investors, developers, and tenants.
• Net Lease Sales Specialized net lease sales team handling single-tenant, triple-net investment properties, providing acquisition, disposition, and investment transaction services through a dedicated team at www.nnnsales.com.
• Tenant Representation Strategic partner services for tenants seeking commercial space, providing real-time market intelligence, lease negotiation leverage, drive-time demographics, market surveys, identification of on- and off-market spaces, tailored proposals, and guided negotiations through closing.
• Landlord Representation Property owner representation services delivering market intelligence, leasing activity insights, demographic data, property marketing strategy, and negotiation support to maximize property potential and create ideal tenant mix for retail centers and other commercial properties.
• Corporate Services Comprehensive commercial real estate solutions for corporate clients including portfolio optimization, site selection expertise, lease negotiation, and strategic guidance aligned with operational goals for national corporations managing expansion, relocation, and portfolio strategy.

Quantifiable outcome

• $3 billion+ in transactions completed over three decades
• +2 more outcomes

Named customers4 records

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Six partnerships are on record, tiered core and minor.

• CrexicoreTechnology or IntegrationCrexi is a commercial real estate platform that recognized Upland as a 2024 Platinum Broker Award winner for sales volume. This recognition validates the company's transaction capabilities and market standing.
• CoStarcoreTechnology or IntegrationCoStar is a commercial real estate analytics and information platform that provides market data and recognized Upland as a Power Broker. Upland likely utilizes CoStar's data services for market intelligence and property research.
• CCIM InstitutecoreOthersThe CCIM Institute (Certified Commercial Investment Member) is a professional organization for commercial real estate professionals. Multiple Upland brokers hold the CCIM designation, demonstrating advanced expertise in commercial real estate investment analysis and transaction management.
• ICSC (International Council of Shopping Centers)minorOthersICSC is a global trade association for the shopping center industry. Upland maintains membership, providing access to industry resources, networking, and professional development in retail real estate.
• MNCAR (Minnesota Commercial Association of Realtors)coreOthersMNCAR is the primary professional organization for commercial real estate professionals in Minnesota. Upland maintains active membership, positioning the firm within the local commercial real estate community.
• Retail Brokers NetworkminorOthersRetail Brokers Network is a consortium of independent retail real estate brokerage firms. Upland maintains membership, likely providing access to national retail tenant representation opportunities and broker referrals.

Scale indicators4 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• CBRE Group: World's largest commercial real estate services firm with deep Minneapolis presence across brokerage, investment sales, and corporate services. Competes with Upland for institutional landlord mandates and corporate tenant representation work in the same Twin Cities geography.
• Colliers International: Global commercial real estate services firm with offices in Minneapolis covering tenant representation, landlord leasing, capital markets, and corporate services. A broader incumbent that competes with Upland on mid-market to enterprise mandates in the Twin Cities and beyond.
• JLL (Jones Lang LaSalle): Global commercial real estate and investment management firm with Minneapolis offices serving corporate occupiers, investors, and developers. Competes with Upland for corporate-services, capital-markets, and tenant-representation mandates in the Upper Midwest.
• Newmark Group: National commercial real estate services firm offering leasing, capital markets, and corporate services with growing Minneapolis presence. Competes with Upland for landlord leasing and tenant representation assignments in retail, office, and industrial across the Midwest.
• Cushman & Wakefield: Global commercial real estate services platform with significant Minneapolis operations spanning leasing, capital markets, valuation, and corporate occupier services. A direct competitor on enterprise-grade CRE mandates in Upland's primary market.

Direct peers

• Mid-America Real Estate Group: Retail-focused commercial real estate investment and brokerage firm headquartered in the Midwest (Oakbrook Terrace, IL) serving national retail tenants and investors. Direct competitor in retail tenant representation and landlord leasing across the same Upper Midwest geography and tenant universe (QSR, retail chains).
• Northmarq: Minneapolis-headquartered commercial real estate capital markets and debt-equity intermediary serving investors, owners, and developers across the Midwest. Directly comparable in both geography (HQ market) and service scope (investment sales and advisory for institutional and private clients), making it the closest like-for-like peer.
• Stan Johnson Company: National net lease investment sales firm serving institutional investors, developers, REITs, and private clients in single-tenant and sale-leaseback transactions. The closest pure-play peer to Upland's Net Lease Sales team in deal type and capital markets positioning.
• Marcus & Millichap: National commercial real estate investment sales and financing firm with deep specialization in net lease, multifamily, and retail investment sales. Highly comparable to Upland's Net Lease Sales division in deal type, investor client base, and single-tenant net lease focus.
• SRS Real Estate Partners: National commercial real estate brokerage specialized in retail, net lease, and capital markets transactions with multiple U.S. offices. Comparable to Upland in retail tenant representation, net lease investment sales, and landlord leasing for shopping centers and single-tenant assets.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/uplandregroup
• Facebookfacebook.com/UplandBrokerage
• Instagraminstagram.com/uplandbrokerage

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 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 Upland Real Estate Group