Horne Properties
Horne Properties, Inc. is a Knoxville, Tennessee-based commercial real estate development and management firm founded in 1981 that develops, leases, and manages retail shopping centers, office buildings, and commercial land across 25 US states, anchored primarily by investment-grade tenants such as Walmart, Lowe's, and Chick-fil-A.
- Company typePrivate
- Founded1981
- HeadquartersKnoxville, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Horne Properties does
Horne Properties, Inc. is a privately held commercial real estate development, management, and leasing company founded in 1981 and headquartered in Knoxville, Tennessee. The company operates two integrated service lines: real estate development (site acquisition, zoning, construction coordination, and project management for retail shopping centers, office buildings, and commercial land) and property management/leasing (tenant relations, property maintenance, market research, and lease execution). Across 40+ years the company has developed well over 140 properties, ranging from 5,000 sq ft to 249,999 sq ft, with active property holdings in six states (Tennessee, North Carolina, Ohio, Alabama, South Carolina, and Texas) and a Leasing and Property Management Division covering 25 states.
The company's strategy is conservative and non-speculative: developments are pre-leased to investment-grade anchor tenants — most prominently Walmart, Lowe's, and Chick-fil-A — before breaking ground, with long-duration leases (15-20 years) that anchor cash flow. Recent deal flow illustrates this approach: a 20-year Chick-fil-A lease (March 2023, Sevierville, TN), a 15-year Freddy's lease (May 2023, Sevierville, TN), Starbucks joining River Ridge Marketplace (Spring 2024), and three new land listings in 2024 adjacent to Walmart/Lowe's in Ohio, Texas, and Alabama. GTM is sales-led: dedicated leasing and property management teams personally travel to each site, conducting demographic studies and direct tenant relationships.
The business model combines one-time development fees and land sales with recurring property management and rental income. Pricing is quote-based and not publicly disclosed. The company has no disclosed funding rounds, no PE/VC backing, and remains founder-controlled under CEO Douglas A. Horne (founder), President Michael V. Patterson, and Executive Vice President Greg Wanderman. The operating model is intentionally low-tech — no proprietary platform, no API, no AI tooling — relying instead on 40-year institutional knowledge, retailer relationships, and hands-on site management as the core operating capability.
Horne Properties firmographics
Firmographics- Name
- Horne Properties
- Legal name
- Horne Properties, Inc.
- Website
- https://hpiknox.com
- Company type
- Private
- Founded year
- 1981
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Horne Properties, Inc. is a Knoxville, Tennessee-based commercial real estate development and management firm founded in 1981 that develops, leases, and manages retail shopping centers, office buildings, and commercial land across 25 US states, anchored primarily by investment-grade tenants such as Walmart, Lowe's, and Chick-fil-A.
- Ownership category
- akta.pro rank
Horne Properties industry classification
Industry- Product category
- Commercial Real Estate
- NAICS
- Real Estate Property Managers (53131), Rental and Leasing Services (532), Offices of Real Estate Agents and Brokers (5312)
- SIC
- Land Subdividers & Developers (No Cemeteries) (6552), Operators Of Nonresidential Buildings (6512), Real Estate Agents & Managers (For Others) (6531)
- akta.pro primary industry
- Real Estate Development Asset Management (Project/Construction-to-Stabilization) (BPAJAMAL)
- akta.pro secondary industry
- Property Management Advisory & Leasing Administration (FSAEAJAN)
Keywords
Where Horne Properties is headquartered
LocationHeadquarters
- HQ city
- Knoxville
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Horne Properties business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Supply Chain, Marketing or Sales
Revenue model
- Commercial Real Estate Development: Development of shopping centers, office buildings, and land for commercial retail use. Revenue generated through sale or lease of developed properties to anchor tenants and retail operators.
- Property Management and Leasing: Ongoing property management and leasing services for commercial and office developments. Revenue from lease arrangements with local, regional, and national retail tenants.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Unit Pricing | One time/ perpetual license | Land parcels available for development |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels1 record
Horne Properties product offering
Product offeringCore offering
Horne Properties, Inc. develops, manages, and leases commercial retail and office real estate properties across the United States. Its development division handles site acquisition, zoning, civil and architectural design, utility coordination, and construction loan closing for shopping centers and office buildings anchored by investment-grade retailers. Its property management and leasing division provides ongoing tenant relations, market research, lease execution, and maintenance services across 25 states. The company has developed well over 140 properties since 1981, with current presence in Tennessee, North Carolina, Ohio, Alabama, South Carolina, and Texas.
Product overview
Horne Properties is a full-service real estate development and management company offering two integrated service lines: Real Estate Development Services and Property Management Services. The company develops and manages a portfolio of commercial retail and office properties across the southeastern United States, including shopping centers (River Ridge Market Place, Amberwood Plaza, Glenn Crossing, Wilkes Plaza), land development sites (Walmart Adjacent Land properties in Ohio, Texas, and Alabama), and single-tenant retail buildings (Chik-fil-A, Freddy's, 1408 Parkway). The Development division handles site acquisition, construction, and project management, while the Property Management division provides leasing, tenant relations, and maintenance services across 25 states.
Differentiator
Problem solved
Functional benefit
Products and services
- Real Estate Development Services Full-service real estate development including land purchase negotiation, site acquisition, zoning and highway access, civil and architectural design, utility coordination, and project management for retail and commercial properties across the southeastern United States. Anchor-tenant-driven developments for national retailers.
- Property Management and Leasing Services Ongoing commercial property management and leasing services covering tenant relations, market research via demographic surveys, lease execution, dedicated site-specific property teams, and first-class property maintenance across 25 states nationally.
- River Ridge Market Place 229,662 sq ft regional shopping center in Asheville, NC anchored by AC Moore, Badcock Home Furnishings, and Hamrick's, with recent renovations and three available spaces for lease.
- Okatie Crossing Regional retail development site in Okatie, SC at the US 278 and SC 170 intersection, with large tracts and outparcels available for lease, serving Hilton Head, Beaufort, and surrounding areas.
- Walmart Adjacent Land (Middletown, OH) ~18 acres of developable land in three parcels in Middletown, OH adjacent to Walmart, Lowe's, and Kohl's with visibility from I-75.
- Walmart Adjacent Land (Abilene, TX) Nearly 93 acres of land available near I-20 in Abilene, TX adjacent to Lowe's and Walmart, close to Abilene Christian University, with utilities in place and street lighting on Musgrave Blvd and East Lake Road.
- Walmart Adjacent Land (Decatur, AL) 14.47 acres available adjacent to Super Walmart on Spring Avenue in Decatur, AL at the English Village Shopping Center, with high traffic counts on Spring Avenue (~11,000 vpd) and Beltline Road (~33,400 vpd).
- Amberwood Plaza Shopping center in Ashland, OH fronting Highway 250 less than a mile from I-71, anchored by Walmart supercenter with 1,500 sq ft vacancy.
- Glenn Crossing Shopping Center Dominant retail center in Fort Payne, AL adjacent to Walmart supercenter on Glenn Boulevard, 100% leased with tenants including Burke's Outlets, Hibbett Sporting Goods, Shoe Show, Verizon, and GNC.
- Wilkes Plaza Shopping Center Shopping center in Wilkesboro, NC anchored by Walmart supercenter with tenants Dollar Tree, US Cellular, and Maurice's, with one 1,500 sq ft vacancy.
- Pinnacle Building (Office) Office building at 412 North Cedar Bluff Road, Knoxville, TN with Suite 404 available (2,108 sq ft); current tenants include Architectural Graphics Inc, First Southern Mortgage, and US Government agencies.
- Chick-fil-A (Sevierville, TN) 4,995 sq ft Chick-fil-A restaurant on Winfield Dunn Pkwy in Sevierville, TN with 20-year lease; opened March 2023.
- Freddy's Frozen Custard & Steakburgers (Sevierville, TN) 3,240 sq ft Freddy's Frozen Custard & Steakburgers restaurant in Sevierville, TN in a Publix-anchored shopping center with 15-year lease; opened May 2023.
- 1408 Parkway (Sevierville, TN) ~20,020 sq ft free-standing building adjacent to Walmart Super Center on Parkway in Sevierville, TN, fully leased to Shoe Dept. Encore.
Quantifiable outcome
- Over 140 properties developed across the United States since 1981
- +1 more outcomes
Companies that use Horne Properties
Customer profileNamed customers14 records
Segments3 records
Ideal customer profiles3 records
Horne Properties technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Horne Properties partnerships and signals
Strategic signalScale indicators4 records
Recent moves6 records
Expansion highlights4 records
Horne Properties competitors and assessment
Company assessmentBroad incumbents
- Brixmor Property Group: Publicly traded open-air shopping center REIT (BRX) that owns, manages, and redevelops retail properties anchored by national grocers and necessity-based retailers. Comparable retail-anchored strategy and active redevelopment pipeline, with broader scale and public capital access.
- Federal Realty Investment Trust: Publicly traded REIT (FRT) and one of the longest-tenured owners/operators of open-air shopping centers, with significant in-house development, leasing, and property management. Highly comparable vertically integrated retail real estate platform at much larger scale.
- Regency Centers Corporation: Publicly traded REIT (REG) that owns, operates, and develops grocery-anchored shopping centers in affluent trade areas. Comparable retail-anchored shopping center model with in-house development capabilities.
- Kimco Realty: One of the largest publicly traded shopping center REITs (KIM) in North America, with an integrated acquisition, development, and property management platform. Comparable at the category level, but operates at vastly greater scale and as a public REIT rather than a private operator.
- RPT Realty: Publicly traded shopping center REIT (RPT) focused on open-air, grocery-anchored centers in densely populated markets, with active leasing and redevelopment. Similar tenant base and integrated development/management operations.
- Weingarten Realty Investors: Historically one of the major shopping center REITs, focused on grocery-anchored and necessity-based retail centers across the Sunbelt. Comparable retail-anchored strategy and tenant profile, now operating within a larger public structure.
Direct peers
- Phillips Edison & Company: Publicly traded REIT (PECO) that owns and operates grocery-anchored neighborhood and community shopping centers across the US, with integrated in-house property management and leasing teams. Highly comparable to Horne's retail-anchored shopping center model and long-duration tenant strategy.
- The Woodmont Company: Privately held commercial real estate development and management firm focused on retail-anchored shopping centers. Closely mirrors Horne's founder-led, conservative, non-public model and secondary-market anchor-tenant focus.
Emerging players
- Continental Real Estate Companies: Private commercial real estate investment and management firm specializing in value-add and development of open-air retail shopping centers. Closely comparable mid-sized private retail real estate operator with integrated development and management functions.
Others
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
Horne Properties social profiles
Digital presenceHorne Properties financial estimates
Financial estimateRevenue estimate
Valuation estimate
Horne Properties leadership team
Management profileNumber of profiles
Profiles13 records
Horne Properties funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Horne Properties 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 Horne Properties
What does Horne Properties do?
Horne Properties, Inc. develops, manages, and leases commercial retail and office real estate properties across the United States. Its development division handles site acquisition, zoning, civil and architectural design, utility coordination, and construction loan closing for shopping centers and office buildings anchored by investment-grade retailers. Its property management and leasing division provides ongoing tenant relations, market research, lease execution, and maintenance services across 25 states. The company has developed well over 140 properties since 1981, with current presence in Tennessee, North Carolina, Ohio, Alabama, South Carolina, and Texas.
Is Horne Properties a public or private company?
Horne Properties is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Horne Properties founded?
Horne Properties was founded in 1981. It employs 11 to 50 people.
Where is Horne Properties based?
Horne Properties is headquartered in Knoxville, United States, in the North America region.
How does Horne Properties make money?
Two revenue lines are on record. Commercial Real Estate Development is the primary driver. The others are property Management and Leasing.
Who are Horne Properties's main competitors?
Broad incumbents on record are Brixmor Property Group, Federal Realty Investment Trust, Regency Centers Corporation, Kimco Realty, RPT Realty and Weingarten Realty Investors. Direct peers are Phillips Edison & Company and The Woodmont Company. Continental Real Estate Companies is listed as an emerging player. Kite Realty Group Trust is listed as an others.
Does Horne Properties have an API?
No public API is recorded for Horne Properties.
What industry is Horne Properties in?
Horne Properties's product category is Commercial Real Estate. Its primary akta.pro industry code is BPAJAMAL, Real Estate Development Asset Management (Project/Construction-to-Stabilization), with a secondary code of FSAEAJAN, Property Management Advisory & Leasing Administration. Its NAICS code is 53131 and its SIC code is 6552.