Gershman Partners
Gershman Partners is a family-owned, Indianapolis-based commercial real estate development firm providing ground-up development, third-party development representation, tenant representation, and property/asset management across Indiana markets.
- Company typePrivate
- Founded1993
- HeadquartersIndianapolis, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Gershman Partners does
Gershman Partners is a privately held, full-service commercial real estate development firm headquartered at 350 Massachusetts Avenue in Indianapolis, Indiana. Founded by Jerry Gershman, the firm operates across mixed-use development, office, retail/lifestyle and power centers, hospitality, industrial/logistics, and selective residential infill — primarily in the Indianapolis metro and other Indiana markets including Carmel, Noblesville, Bloomington, and Evansville. Its named project portfolio spans more than a dozen assets, with disclosed project values ranging from small tenant-build-outs to a $200M, 1.9 million SF industrial-retail ground-up at County Line Commerce and a $175-180M City Market East redevelopment of the historic Gold Building.
The firm executes four primary revenue streams: development fees earned from third-party development representation and direct development, leasing commissions on retail/office/industrial transactions, asset and property management fees (notably for Hamilton Town Center on behalf of Simon Property Group), and tenant representation fees (including documented multi-state engagements with national retailers such as Burlington and CVS Pharmacy). Pricing is project-quoted and not publicly disclosed, and GTM is sales-led and relationship-driven, leveraging long-standing ties to national big-box and junior-box retailers. The firm co-develops most large projects with a tight partner set — primarily Citimark, Inc., along with Milhaus, Deylen Realty, and AJ Capital Partners — and uses a stable architecture/construction bench including DKGR Architects, Blackline Studio, and Hagerman Group.
Leadership is family-centric, with principals Jerry, Eric, Brad, and Ryan Gershman, supplemented by an EVP, a VP/General Counsel (ex-Simon Property Group in-house), a Director of Development & Finance (ex-HFF/JLL), and a Controller; Buzz Weisiger's CWC, Inc. operates as an owner's-representation subsidiary inside the office. Operations remain concentrated in Indiana and across roughly five sub-markets; the firm has no parent, no disclosed institutional capital, and no disclosed revenue. Marketing reach is dominated by an informational website, LinkedIn, Instagram, and earned media in outlets such as IBJ and the Indianapolis Star.
Gershman Partners firmographics
Firmographics- Name
- Gershman Partners
- Legal name
- Gershman Partners
- Website
- https://gershmanpartners.com
- Company type
- Private
- Founded year
- 1993
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- Gershman Partners is a family-owned, Indianapolis-based commercial real estate development firm providing ground-up development, third-party development representation, tenant representation, and property/asset management across Indiana markets.
- Ownership category
- akta.pro rank
Gershman Partners industry classification
Industry- Product category
- Commercial Real Estate Development
- NAICS
- Real Estate Property Managers (53131), Offices of Real Estate Agents and Brokers (5312)
- SIC
- Real Estate Agents & Managers (For Others) (6531)
- akta.pro primary industry
- Real Estate Development & Feasibility Advisory (Highest-and-Best-Use, Entitlements Support) (BPAJANAC)
- akta.pro secondary industries
- Retail Real Estate Asset Management (BPAJAMAF), Mixed-Use Property Management (BPAJAGAE)
Keywords
Where Gershman Partners is headquartered
LocationHeadquarters
- HQ city
- Indianapolis
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Gershman Partners business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales
Revenue model
- Development Fees: Fees earned from developing commercial real estate projects for partners and third-party clients
- Property Management: Ongoing property management services for owned and managed portfolio properties
- Leasing Commissions: Commercial leasing representation for retail, office, and industrial tenants
- Asset Management: Asset management services for investment portfolio properties
- Tenant Representation: Brokerage services representing national retailers in site selection and lease negotiations
Go-to-market motion1 record
Distribution channels4 records
Marketing channels6 records
Gershman Partners product offering
Product offeringCore offering
Gershman Partners is an Indianapolis-based commercial real estate development firm that builds and manages mixed-use, office, retail, hospitality, and residential properties. In addition to ground-up development, the firm provides property/asset management, leasing, and tenant representation services for owners and national retailers across Midwest markets.
Product overview
Gershman Partners is a full-service commercial real estate development company offering a portfolio of distinct property types and development services. Their product portfolio spans mixed-use developments (County Line Commerce, Versa, Ardmore, Market Square Center), office properties (Madera, Marott Center, Marietta on Mass Ave), retail centers (Hamilton Town Center, Lloyd Crossing, The Bridges, Lockerbie Marketplace), hospitality (Graduate Bloomington hotel), and residential properties (Devonshire, Mayleeno). The company also provides third-party development, tenant representation, and asset/property management services across the greater Indianapolis area and Midwest region.
Differentiator
Problem solved
Functional benefit
Products and services
- Mixed-Use Real Estate Development
- Office Property Development Development of purpose-built office properties for corporate users and investors. Serves owners and occupiers seeking Class A/B office product in Indiana and the Midwest.
- Retail Center Development Development of retail shopping centers for national retailers, grocery anchors, and local tenants. Targeted at retail brands and property investors requiring built-to-suit or speculative retail product.
- Hospitality Development Development of hotel and hospitality properties in partnership with hotel brands and investors. Serves hospitality operators and real estate investors seeking select-service and full-service hotel assets.
- Residential Development Development of residential projects, often as part of mixed-use communities. Targeted at investors, homebuilders, and end users (via sales) seeking urban and suburban residential product.
- Property and Asset Management Ongoing management of commercial properties for third-party owners, covering operations, maintenance, tenant relations, financial reporting, and asset-level strategy.
- Leasing Services
- Tenant Representation Site selection, market analysis, and lease negotiation on behalf of national retailers and corporate tenants expanding into Indiana and Midwest markets.
- Third-Party Development Development services delivered on behalf of landowners, investors, and institutions that own land or capital but lack in-house development capability. Targets property owners, REITs, and institutional investors.
Quantifiable outcome
- Successfully completed dozens of ground-up developments
- +1 more outcomes
Companies that use Gershman Partners
Customer profileNamed customers48 records
Segments8 records
Ideal customer profiles2 records
Gershman Partners technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Gershman Partners partnerships and signals
Strategic signalPartnerships
Ten partnerships are on record, tiered core, major and minor.
- Citimark, Inc.coreMajor co-development partner on multiple flagship projects including County Line Commerce ($200M industrial/retail), Lockerbie Marketplace, Market Square Center (Gold Building), and Versa Broad Ripple. Long-standing partnership with shared investment in Indianapolis market developments.
- Deylen RealtycoreCo-development partner on Ardmore mixed-use project (123,024 SF residential + 20,000 SF retail) and Mayleeno apartments. Deylen handles residential leasing for Ardmore while Gershman manages retail. Partnership on multiple Indianapolis developments.
- MilhauscoreStrategic partner on Versa Broad Ripple development (234 units, $70M) and Market Square Center redevelopment. Milhaus manages multifamily portions of joint projects while Gershman oversees retail.
- AJ Capital PartnersmajorChicago-based partner on Graduate Bloomington - 135,000 SF, 150-key boutique hotel development near Indiana University. AJ Capital is the hotel operator/developer while Gershman handled real estate development.
- Blackline StudiomajorDesign partner on multiple projects including Ardmore and Link development in Fountain Square. Architectural firm led the design of 22nd + Talbott Street restaurant renovation as well.
- Hagerman GroupmajorLead construction firm on City Market East redevelopment project. Fishers-based construction company executing the $175M+ mixed-use development.
- DKGR ArchitectsmajorLead design firm on City Market East project, joining engineering company DLZ and landscaping firm Merritt Chase. Also designed Versa development.
- Simon Property GroupmajorGershman manages Hamilton Town Center (690,000 SF retail lifestyle center) on behalf of Simon Property Group. Over 85 shops and dining options managed.
- CWC, Inc.coreOwner's representation firm within Gershman Partners' office led by Buzz Weisiger. Handles project management for high-profile developments including Hamilton Town Center, The Bridges, and Ardmore.
- Kimbal Musk / Big Green / The Kitchen Restaurant GroupminorPrevious partnership on 46th + College Ave project - transformed historic Kroger building into Next Door Eatery (farm-to-table). Project closed but led to subsequent tenants including Social Cantina and Gallery Pastry.
Scale indicators19 records
Recent moves6 records
Expansion highlights6 records
Gershman Partners competitors and assessment
Company assessmentBroad incumbents
- JLL (Jones Lang LaSalle): Global commercial real estate services firm offering brokerage, property management, and capital markets advisory. Comparable to Gershman's tenant representation, leasing, and asset management services, but at global scale.
- Cushman & Wakefield: Global commercial real estate services firm with brokerage, valuation, and property management offerings. Comparable to Gershman's integrated real estate services across leasing, management, and advisory.
- Kite Realty Group Trust: Indianapolis-based publicly traded retail REIT owning and operating open-air shopping centers across the U.S. Overlaps with Gershman's retail center ownership and management, but operates at national REIT scale.
- Duke Realty (Prologis): Indianapolis-headquartered industrial REIT (now part of Prologis) focused on Class-A logistics facilities. Directly comparable to Gershman's County Line Commerce industrial/retail development in asset class and market.
- Simon Property Group: Indianapolis-based, the largest U.S. retail REIT and a key Gershman partner (Gershman manages Hamilton Town Center for Simon). Operates at national scale across malls, premium outlets, and mixed-use.
Direct peers
- Strategic Capital Partners: Indiana-based commercial real estate investment and development firm focused on mixed-use, multifamily, and retail projects. Comparable in scope, regional focus, and integrated development/investment platform.
- Thompson Thrift: Indiana-headquartered commercial real estate developer active in multifamily, mixed-use, and retail projects across the Midwest and Sunbelt. Comparable in project scale, vertical integration, and regional commercial real estate focus.
- Browning Investments: Indianapolis-based, family-owned commercial real estate developer with a multi-decade track record in mixed-use, retail, office, and hospitality projects across Indiana. Directly comparable in scale, geographic focus, and integrated development/management approach.
- Flaherty & Collins Properties: Indianapolis-based real estate firm specializing in multifamily, mixed-use, and commercial developments. Comparable as a Midwest-focused, privately-held developer with an integrated property management arm.
- The Loring Group: Indianapolis-based commercial real estate firm providing development, brokerage, property management, and consulting services across Indiana. Directly comparable in service offering and regional focus.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Gershman Partners social profiles
Digital presenceGershman Partners financial estimates
Financial estimateRevenue estimate
Valuation estimate
Gershman Partners leadership team
Management profileNumber of profiles
Profiles10 records
Gershman Partners subsidiaries and ownership
Company hierarchySubsidiaries1 record
Gershman Partners funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Gershman Partners 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 Gershman Partners
What does Gershman Partners do?
Gershman Partners is an Indianapolis-based commercial real estate development firm that builds and manages mixed-use, office, retail, hospitality, and residential properties. In addition to ground-up development, the firm provides property/asset management, leasing, and tenant representation services for owners and national retailers across Midwest markets.
Is Gershman Partners a public or private company?
Gershman Partners is a private company. It is classified as family owned and is currently operating.
When was Gershman Partners founded?
Gershman Partners was founded in 1993. It employs 1 to 10 people.
Where is Gershman Partners based?
Gershman Partners is headquartered in Indianapolis, United States, in the North America region.
How does Gershman Partners make money?
Five revenue lines are on record. Development Fees are the primary driver. The others are property Management, leasing Commissions, asset Management and tenant Representation.
Who are Gershman Partners's main competitors?
Broad incumbents on record are JLL (Jones Lang LaSalle), Cushman & Wakefield, Kite Realty Group Trust, Duke Realty (Prologis) and Simon Property Group. Direct peers are Strategic Capital Partners, Thompson Thrift, Browning Investments, Flaherty & Collins Properties and The Loring Group.
Does Gershman Partners have an API?
No public API is recorded for Gershman Partners.
What industry is Gershman Partners in?
Gershman Partners's product category is Commercial Real Estate Development. Its primary akta.pro industry code is BPAJANAC, Real Estate Development & Feasibility Advisory (Highest-and-Best-Use, Entitlements Support), with a secondary code of BPAJAMAF, Retail Real Estate Asset Management. Its NAICS code is 53131 and its SIC code is 6531.