Nellis Corporation

What Nellis Corporation does

Nellis Corporation is a privately held, family-owned commercial real estate investment firm founded in 1983 by brothers Randall and Mark Levitt as the successor to a prior family management company. The firm acquires, manages, and develops single-tenant and multi-tenanted retail, office, and industrial properties, with core holdings concentrated in the greater Washington DC metropolitan area and a parallel nationwide program targeting single-tenant triple-net leased assets leased at materially below-market rates with 10+ years of remaining term. Capital deployment occurs both as a principal equity owner and as a lender (senior and/or mezzanine), joint venture partner, or equity partner in third-party CRE transactions, generating income from rents, interest, equity participation, and transaction fees.

The firm is operationally run by a professional management team — President Pete Federowicz (since 2007), CFO Leib Davids (since 2013), General Counsel Michael Glazer (since 2006), Managing Director of Acquisitions Lucas Druskin, and a broader team across property management, lease administration, and asset management — with the Levitt family principals (Randall as Senior Advisor, Mark as principal, Joel Levitt in property/construction management) retaining strategic ownership. Tenant relationships across the portfolio are anchored by national credit retailers and service providers including Walmart, Giant Food, Best Buy, CVS Pharmacy, Starbucks, AutoZone, McDonald's, and Bank of America.

Nellis has acquired over 40 properties in the past decade and operates across at least 15 U.S. states including Maryland, Virginia, Arizona, California, Illinois, New Jersey, Oklahoma, Pennsylvania, and Texas. Its value proposition to sellers centers on cash-buyer status and quick closings, while its investment strategy pursues value-add repositioning, covered-land plays, and below-market acquisitions requiring limited landlord management responsibility. The company is headquartered in Potomac, Maryland, and has no disclosed institutional sponsorship, public listing, or parent organization — ownership and governance remain concentrated within the Levitt family.

Name

Nellis Corporation

Legal name

Nellis Corporation

Website

https://nelliscorp.com

Company type

Private

Founded year

1983

Operating status

Operating

Headcount range

11–50 employees

Short description

Nellis Corporation is a privately held, family-owned commercial real estate investment firm that acquires, manages, and develops single-tenant and multi-tenant retail, office, and industrial properties concentrated in the greater Washington DC metro area with a nationwide single-tenant NNN acquisition program.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Investment

NAICS

Lessors of Nonresidential Buildings (except Miniwarehouses) (531120), Nonresidential Property Managers (531312)

SIC

Real Estate Dealers (For Their Own Account) (6532), Real Estate Operators (No Developers) & Lessors (6510), Operators Of Nonresidential Buildings (6512)

akta.pro primary industry

Real Estate Investment Management (Acquisitions & Dispositions) (BPAJAMAK)

akta.pro secondary industries

Real Estate Investment Sales (Income-Producing Properties) (FSAEAJAC), Real Estate Capital Markets Brokerage (Debt & Equity Placement) (FSAEAJAK)

Keywords

• Commercial real estate investment
• Property acquisition management
• Triple-net leased properties
• Private capital real estate
• Shopping center ownership

Headquarters

HQ city

Potomac

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Commercial Property Rental Income: Nellis generates recurring revenue through rental income from commercial tenants across their retail, office, and industrial properties. Properties include single-tenant and multi-tenanted spaces leased to national retailers, restaurants, and service businesses.
2. Property Value Appreciation: As a private investment company, Nellis derives value from appreciation in their real estate portfolio. They pursue value-add components and covered-land plays in acquisition strategy.
3. Capital as Lender/Partner: Nellis provides capital as a lender (senior and/or mezzanine), joint venture partner, and/or equity partner for commercial real estate transactions, generating returns through interest, equity participation, and transaction fees.

Distribution channels2 records

Marketing channels1 record

Core offering

Nellis Corporation is a private investment company that acquires, manages, and develops commercial real estate properties, including single-tenant and multi-tenanted retail, office, and industrial assets, primarily in the greater Washington DC metropolitan area. The firm also deploys capital into nationwide single-tenant triple-net leased properties and participates in commercial real estate transactions as a senior/mezzanine lender, joint venture partner, and equity partner. The firm operates as a principal investor and active landlord, deriving income from rents, property appreciation, and capital deployment returns.

Product overview

Nellis Corporation is a private investment company focused on commercial real estate. The company operates as a single unified offering centered on real estate acquisition, management, and development services. They invest in various commercial property types including single-tenant and multi-tenanted retail, office, and industrial properties. Core holdings are located in the greater Washington DC metropolitan area. In addition to direct real estate investments, Nellis provides capital as a lender (senior and/or mezzanine), joint venture partner, and/or equity partner for commercial real estate transactions. The company was founded in 1983 and has acquired over 40 properties in the last decade.

Differentiator

Problem solved

Functional benefit

Products and services

• Odenton Shopping Center Multi-tenanted retail shopping center owned and managed by Nellis Corporation in Maryland, anchored by Giant Food among other tenants, totaling approximately 198,000 square feet.
• Capital Plaza Shopping Center Multi-tenanted retail shopping center owned and managed by Nellis Corporation in Hyattsville, Maryland, totaling approximately 156,000 square feet and anchored by Walmart and McDonald's among other tenants.
• Jennifer Square Shopping Center Multi-tenanted retail shopping center owned and managed by Nellis Corporation in Maryland.
• Former Bank, Fairfax Commercial property owned and managed by Nellis Corporation in Fairfax, Virginia, redeveloped from a former bank building.
• Vienna Plaza Shopping Center Multi-tenanted retail shopping center owned and managed by Nellis Corporation in Vienna, Virginia.
• Sudley Towne Center Multi-tenanted retail shopping center of approximately 66,000 square feet owned and managed by Nellis Corporation in Manassas, Virginia, with Best Buy and Bob's Discount Furniture among major tenants.
• Commercial real estate acquisition and management services Core investment service through which Nellis Corporation acquires, manages, and develops single-tenant and multi-tenanted retail, office, and industrial commercial properties, primarily in the greater Washington DC metropolitan area, for its own portfolio.
• Single-tenant triple-net leased property acquisitions Nationwide acquisition program targeting single-tenant properties leased at least 40% below market on absolute net leases with 10+ years of lease term remaining, in or near major metropolitan areas and across all property types, held as long-term investments.
• Commercial real estate capital deployment (debt and equity) Provision of capital to commercial real estate transactions as a senior or mezzanine lender, joint venture partner, and equity partner, generating returns through interest, equity participation, and transaction fees for real estate operators, sponsors, and developers.

Quantifiable outcome

• Over 40 properties acquired in the last decade

Named customers8 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

Scale indicators2 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• Sterling Organization: Private vertically integrated retail real estate investment firm that actively acquires, manages, and develops open-air shopping centers across the US — the closest private-market peer in strategy, scale, and operating model.
• Brixmor Property Group: Public shopping center REIT owning a national portfolio of open-air grocery-anchored centers with similar anchor tenant profiles (grocery, soft goods, services) to Nellis's multi-tenant centers.
• Phillips Edison & Company: Public net-lease shopping center REIT focused on grocery-anchored necessity-based retail with a similar tenant mix and value-oriented acquisition posture, recently taken public via IPO with prior history as a private acquirer.
• Kite Realty Group: Open-air shopping center REIT with a portfolio of grocery-anchored and lifestyle centers, competing in the same acquisition market and operating in the same retail tenant ecosystem as Nellis.
• Federal Realty Investment Trust: Large-cap shopping center REIT with deep Washington DC/Baltimore exposure and a high-quality grocery-anchored and mixed-use portfolio that closely resembles Nellis's core DC-metro holdings in tenant composition and asset class.
• Kimco Realty: Largest publicly traded shopping center REIT in the US, with a national open-air grocery-anchored portfolio that directly overlaps Nellis's multi-tenant retail strategy and acquisition approach.
• Saul Centers: Closest publicly traded analog: a family-controlled (Saul family) REIT focused on Washington DC metropolitan area shopping centers and mixed-use properties, with a comparable strategy of acquiring, managing, and developing neighborhood and community centers in the same region Nellis dominates.
• Retail Opportunity Investments Corp. (ROIC): Public net-lease shopping center REIT focused on necessity-anchored centers on the West Coast and East Coast, with a comparable grocery-anchored acquisition mandate and below-market rent capture thesis.

Emerging players

• BKM Capital Partners: Private institutional investment manager specializing in value-add light industrial and last-mile logistics, directly comparable to Nellis's industrial component and value-add acquisition posture at smaller scale.

Regional players

• Wheeler Real Estate Investment Trust: Small-cap public shopping center REIT with grocery-anchored and value-oriented retail assets primarily in the southeastern US — analogous in size and strategy to Nellis's portfolio, though geographically concentrated in a different region.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 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 Nellis Corporation