Larsen Baker
Larsen Baker is a Tucson-based, woman- and veteran-owned commercial real estate firm that develops, owns, manages, leases, and brokers retail, office, and industrial properties in Southern Arizona, managing 6 million square feet and $800 million in assets for 700+ tenants.
- Company typePrivate
- Founded1994
- HeadquartersTucson, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Larsen Baker does
Larsen Baker LLC is a privately held, full-service commercial real estate firm headquartered in Tucson, Arizona. Founded in 1994 through the merger of George Larsen's Arizona Development Group and Don Baker's Don Baker Realty, the firm develops, owns, operates, manages, leases, and brokers retail, office, and industrial properties across Southern Arizona. It is described as the largest commercial property owner/manager in Tucson, with approximately $800 million in assets under management, 6 million square feet of managed inventory (3.6 million square feet owned plus a third-party management book), and more than 700 tenants. The company is 100% woman and veteran owned, and leadership includes several CCIM-, SIOR-, and CPM-designated principals.
Operations are organized around four service lines: brokerage (commercial leasing and sales), property management (including third-party management for external owners), development and redevelopment (build-to-suit, leasebacks, and repurposing of obsolete buildings, with more than 6 million square feet developed over the past 25+ years), and investment / joint-venture partnerships where the firm contributes capital and development expertise to external property owners. There is no proprietary technology platform; the operational stack relies on third-party tools including Heartland Payment Services for tenant rent collection and MaintainX for maintenance request tracking, alongside a website-based property listings portal.
Revenue is generated from a mix of rental income on the owned portfolio, recurring managed-services fees on third-party mandates, brokerage commissions on leasing and sales transactions, professional services fees on development and redevelopment projects, and equity participation in joint-venture partnerships. Customer concentration is fragmented across 700+ SMB and mid-market commercial tenants, with enterprise-level exposure to a smaller set of third-party management clients. Following the 2016 deaths of co-founder Don Baker and his wife in an aviation accident, operating control transitioned to a mentored management team that includes CEO Melissa Lal and CFO Jennifer Whitman, both CCIM-designated principals.
Larsen Baker firmographics
Firmographics- Name
- Larsen Baker
- Legal name
- Larsen Baker LLC
- Website
- https://larsenbaker.com
- Company type
- Private
- Founded year
- 1994
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Larsen Baker is a Tucson-based, woman- and veteran-owned commercial real estate firm that develops, owns, manages, leases, and brokers retail, office, and industrial properties in Southern Arizona, managing 6 million square feet and $800 million in assets for 700+ tenants.
- Ownership category
- akta.pro rank
Larsen Baker industry classification
Industry- Product category
- Commercial Real Estate Services
- NAICS
- Offices of Real Estate Agents and Brokers (531210), Real Estate Property Managers (53131), Lessors of Other Real Estate Property (53119)
- SIC
- Real Estate Agents & Managers (For Others) (6531), Operators Of Nonresidential Buildings (6512), Lessors Of Real Property, Nec (6519)
- akta.pro primary industry
- Commercial Real Estate Brokerage (Leasing & Sales) (FSAEAJAB)
- akta.pro secondary industries
- Office Brokerage (BPAJABAA), Land & Development Site Brokerage (BPAJABAG)
Keywords
Where Larsen Baker is headquartered
LocationHeadquarters
- HQ city
- Tucson
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Larsen Baker business model
Business model- GTM type
- B2B
- Offering type
- Services
Revenue model
- Property Management Services: Property management services including third-party management for retail, office and industrial properties. Company manages over 3.6 million square feet of owned portfolio plus third-party clients.
- Commercial Leasing & Sales: Commercial leasing and sales brokerage services for retail, office, restaurant, and industrial properties in Southern Arizona.
- Property Development & Redevelopment: Build-to-suit/leasebacks and re-development/re-purposing of obsolete commercial buildings. Company has developed over 6 million sq. ft. of commercial properties in past quarter century.
- Partnership/Joint Venture Opportunities: Joint venture and partnership opportunities where company provides capital and development expertise to help JV partners maximize property value.
Go-to-market motion2 records
Distribution channels4 records
Marketing channels3 records
Larsen Baker product offering
Product offeringCore offering
Larsen Baker develops, owns, manages, and leases retail, office, and industrial commercial real estate properties in Southern Arizona. The firm operates across four integrated service pillars: commercial brokerage (leasing and sales), commercial property management (including third-party management), property development and redevelopment (build-to-suit, leasebacks, and repurposing), and investment/partnership opportunities (joint ventures providing capital and development expertise).
Product overview
Larsen Baker operates as a commercial real estate firm offering a portfolio of integrated services organized around four core pillars: Brokerage (commercial leasing and sales), Property Management (including third-party management for 3.6+ million sq. ft. of retail, office, and industrial properties), Development & Redevelopment (build-to-suit, leasebacks, and building repurposing, with over 6 million sq. ft. developed), and Investment/Partnership Opportunities (joint ventures providing capital and development expertise). The company also maintains a portfolio of flagship commercial properties including Sunrise Corporate, Gallery Row, and Plaza at Williams Centre. Founded in 1994, Larsen Baker is a 100% woman and veteran owned company managing 6 million square feet of commercial properties across Southern Arizona.
Differentiator
Problem solved
Functional benefit
Products and services
- Commercial Brokerage
- Commercial Property Management Property management services for the firm's owned portfolio of over 3.6 million square feet of retail, office, and industrial properties, plus third-party management for external property owners. Maintains higher than market occupancy rates and provides tenant services including online rent payment and maintenance request portals.
- Property Development & Redevelopment Build-to-suit construction, leasebacks, and redevelopment/repurposing of obsolete commercial buildings. The company has developed over 6 million square feet of commercial properties across Southern Arizona over the past quarter century.
- Investment & Joint Venture Partnerships Joint venture and partnership opportunities for commercial property owners, where Larsen Baker provides capital and development expertise to help partners maximize property value and cash flow. Focus on increasing equity and cash flow for partners.
Quantifiable outcome
- Higher than market occupancy rates maintained in commercial real estate portfolio
- +1 more outcomes
Companies that use Larsen Baker
Customer profileNamed customers2 records
Segments3 records
Larsen Baker technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Larsen Baker partnerships and signals
Strategic signalScale indicators8 records
Recent moves2 records
Expansion highlights4 records
Larsen Baker competitors and assessment
Company assessmentDirect peers
- Marcus & Millichap: National CRE investment sales firm focused on middle-market and smaller-market transactions. Comparable to Larsen Baker in providing specialized CRE brokerage services for retail, office, and industrial properties, with a similarly entrepreneurial operating model serving non-top-tier markets.
- NAI Global: Global CRE services network/franchise offering brokerage, property management, and investment services across 300+ offices. Comparable to Larsen Baker as a full-service CRE firm serving commercial property owners, investors, and tenants with integrated service offerings.
- SVN International: CRE franchise with 200+ offices providing brokerage, property management, and advisory services. Comparable to Larsen Baker in offering full-service CRE capabilities through a localized, owner-operator model serving regional markets.
- Sperry Commercial Global Affiliates: CRE franchise providing investment sales, leasing, and property management services across regional offices. Comparable to Larsen Baker in operating a localized, full-service CRE platform targeting commercial property owners and investors.
- Lincoln Property Company: Privately held U.S. CRE firm offering brokerage, property management, and development services across office, retail, multifamily, and industrial. Comparable to Larsen Baker as a privately held, full-service CRE owner-operator with integrated brokerage and property management capabilities.
Regional players
- Kidder Mathews: Largest independently owned CRE firm on the West Coast, operating across the Pacific Northwest and Western U.S. with brokerage, property management, and valuation services. Comparable to Larsen Baker as a regional, full-service, independently owned CRE firm—geographic peer rather than direct competitor.
Broad incumbents
- CBRE Group: World's largest CRE services firm with global investment sales, leasing, property management, and valuation capabilities. Comparable to Larsen Baker across all four service pillars but operates at vastly greater scale, with broader geographic coverage and institutional capital backing.
- JLL: Global CRE services and investment management firm with full-service brokerage, property management, and capital markets capabilities. Overlaps with Larsen Baker across brokerage, property management, and investment/JV activity but at significantly larger institutional scale.
- Cushman & Wakefield: Global CRE services firm offering brokerage, property management, valuation, and project management. Comparable to Larsen Baker in the breadth of services but operates across global markets with institutional client focus rather than regional concentration.
- Colliers International: Global CRE services and investment firm with brokerage, property management, and advisory services. Comparable to Larsen Baker in service mix but operates internationally with significant institutional capital and tech investment backing.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Larsen Baker social profiles
Digital presenceLarsen Baker financial estimates
Financial estimateRevenue estimate
Valuation estimate
Larsen Baker leadership team
Management profileNumber of profiles
Larsen Baker funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Larsen Baker M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Larsen Baker
What does Larsen Baker do?
Larsen Baker develops, owns, manages, and leases retail, office, and industrial commercial real estate properties in Southern Arizona. The firm operates across four integrated service pillars: commercial brokerage (leasing and sales), commercial property management (including third-party management), property development and redevelopment (build-to-suit, leasebacks, and repurposing), and investment/partnership opportunities (joint ventures providing capital and development expertise).
Is Larsen Baker a public or private company?
Larsen Baker is a private company. It is classified as management employee owned and is currently operating.
When was Larsen Baker founded?
Larsen Baker was founded in 1994. It employs 11 to 50 people.
Where is Larsen Baker based?
Larsen Baker is headquartered in Tucson, United States, in the North America region.
How does Larsen Baker make money?
Four revenue lines are on record. Property Management Services are the primary driver. The others are commercial Leasing & Sales, property Development & Redevelopment and partnership/Joint Venture Opportunities.
Who are Larsen Baker's main competitors?
Direct peers on record are Marcus & Millichap, NAI Global, SVN International, Sperry Commercial Global Affiliates and Lincoln Property Company. Kidder Mathews is listed as a regional player. Broad incumbents are CBRE Group, JLL, Cushman & Wakefield and Colliers International.
Does Larsen Baker have an API?
No public API is recorded for Larsen Baker.
What industry is Larsen Baker in?
Larsen Baker's product category is Commercial Real Estate Services. Its primary akta.pro industry code is FSAEAJAB, Commercial Real Estate Brokerage (Leasing & Sales), with a secondary code of BPAJABAA, Office Brokerage. Its NAICS code is 531210 and its SIC code is 6531.