Tri Properties
Tri Properties is a privately held, full-service commercial real estate firm in North Carolina's Triangle region, employing ~80 professionals across Durham and Raleigh. It offers brokerage, leasing, development, construction management, and property/facilities management across all major property types under the NAI Tri Properties brand.
- Company typePrivate
- Founded1974
- HeadquartersDurham, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Tri Properties does
Tri Properties is a privately held, full-service commercial real estate firm headquartered in Durham, North Carolina, with a secondary office in Raleigh. Founded in 1974, the firm has operated in the Triangle (Raleigh-Durham) market for more than 50 years and currently employs approximately 80 professionals across its two offices. Following its November 2019 merger with NAI Carolantic Realty, the brokerage unit was rebranded as NAI Tri Properties in 2021, operating under the NAI Global network affiliation (6,000+ professionals in 375+ offices worldwide). The firm serves private property owners, corporate clients, and institutional investors across all major commercial property types — office, industrial, flex, retail, healthcare, and land.
The firm's service portfolio spans the full commercial real estate value chain: office asset leasing (tenant and landlord representation), investment sales, development and project management, construction management, property and facilities management, corporate services (site selection, lease administration, portfolio management), land brokerage, healthcare real estate, and industrial/flex leasing. Tri Properties manages 11.2 million square feet of commercial property — claimed as the largest such portfolio in the Triangle by square footage — and has developed 5.7 million square feet. The firm also produces proprietary quarterly and annual Triangle Commercial Real Estate Market Reports covering all major property types, functioning as a thought-leadership and lead-generation channel.
The business model combines transaction-based brokerage commissions, recurring property and facilities management fees, and project-based development and construction management revenue. Notable transaction activity includes 265+ transactions totaling over 3.7 million square feet and 1,300 acres post-merger, including a $48 million investment sale (Northchase at Midtown), a $33.4 million 15-year healthcare lease (WakeMed), and a 501,215 SF industrial lease (Vulcan Elements) — the largest industrial deal of 2025 in the Greater Triangle. Enterprise clients include Principal Real Estate Investors (30-year relationship), Bandwidth (440,000 SF HQ management contract), Lionstone Investments, and Wigeon Capital. The firm is led by CEO Greg Sanchez and earns consistent regional industry recognition, including CoStar Top Leasing Firm for 2025 and multiple TCAR and TBJ awards.
Tri Properties firmographics
Firmographics- Name
- Tri Properties
- Legal name
- Tri Properties
- Website
- https://triprop.com
- Company type
- Private
- Founded year
- 1974
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Tri Properties is a privately held, full-service commercial real estate firm in North Carolina's Triangle region, employing ~80 professionals across Durham and Raleigh. It offers brokerage, leasing, development, construction management, and property/facilities management across all major property types under the NAI Tri Properties brand.
- Ownership category
- akta.pro rank
Tri Properties industry classification
Industry- Product category
- Commercial Real Estate Services
- NAICS
- Offices of Real Estate Agents and Brokers (5312), Offices of Real Estate Agents and Brokers (531210), Real Estate Property Managers (53131), Rental and Leasing Services (532)
- SIC
- Real Estate Agents & Managers (For Others) (6531), Real Estate (6500), Operators Of Nonresidential Buildings (6512)
- akta.pro primary industry
- Flex / R&D Industrial Space Brokerage (BPAJACAC)
Keywords
Where Tri Properties is headquartered
LocationHeadquarters
- HQ city
- Durham
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Tri Properties business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Technology or R&D
Revenue model
- Brokerage and Leasing Commissions: Commission-based revenue from commercial real estate sales and lease transactions across office, industrial, retail, flex, healthcare, and land property types
- Property and Facilities Management: Ongoing property management fees for 11.2 million square feet under management
- Development and Construction Services: Development and construction management services for commercial real estate projects
Go-to-market motion1 record
Distribution channels1 record
Marketing channels5 records
Tri Properties product offering
Product offeringCore offering
Tri Properties is a full-service commercial real estate firm providing brokerage, leasing, investment sales, development, construction management, and property and facilities management across office, industrial, retail, flex, healthcare, and land property types in the Triangle (Raleigh-Durham) market. The firm manages 11.2 million square feet and has developed 5.7 million square feet of commercial real estate, operating through the NAI Tri Properties brand within the NAI Global network.
Product overview
Tri Properties is a full-service commercial real estate firm offering a comprehensive suite of services across multiple property types. The company operates as a unified platform providing Office Asset Leasing Services, Construction Services, Corporate Services, Development and Project Management, Healthcare Services, Industrial and Flex Services, Investment Sales, Land Services, Property and Facilities Management, and Retail Services. Additionally, the firm produces quarterly Triangle Commercial Real Estate Market Reports tracking office, flex, warehouse, retail, investment sales, and construction data. With over 50 years of experience in the Triangle market, the firm manages 11.2 million square feet and has developed 5.7 million square feet across the Raleigh-Durham region.
Differentiator
Problem solved
Functional benefit
Products and services
- Office Asset Leasing Services Leasing services for office properties including tenant representation and landlord representation for Class A, B, and C office buildings in the Triangle market.
- Construction Services Construction management and oversight services for commercial real estate projects including tenant improvements and build-outs.
- Corporate Services Corporate real estate advisory services including site selection, lease administration, and portfolio management for corporate clients.
- Development and Project Management Commercial real estate development services and project management from site selection through construction completion.
- Healthcare Services Specialized commercial real estate services for healthcare facilities including medical office buildings, hospitals, and healthcare systems.
- Industrial and Flex Services Leasing and sales services for industrial warehouses, flex buildings, and distribution facilities.
- Investment Sales Commercial real estate investment brokerage services including acquisition and disposition of income-producing properties.
- Land Services Land sales and acquisition services for development sites including zoned land for residential, commercial, and industrial uses.
- Property and Facilities Management Property management and facilities management services for commercial properties including maintenance, accounting, and tenant relations.
- Retail Services Leasing and sales services for retail properties including shopping centers, strip centers, and single-tenant retail buildings.
- Triangle Commercial Real Estate Market Reports Quarterly and annual market reports covering office, flex, warehouse, and retail property types in the Triangle (Raleigh-Durham) market, including investment sales trends and new construction data.
Quantifiable outcome
- 11.2 million square feet under management
- +3 more outcomes
Companies that use Tri Properties
Customer profileNamed customers6 records
Segments4 records
Ideal customer profiles3 records
Tri Properties technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Tri Properties partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core, notable and key client.
- NAI GlobalcoreNAI Tri Properties is the brokerage unit of Tri Properties operating under the NAI Global network affiliation. NAI Global has over 6,000 real estate professionals in 375+ offices worldwide, providing Tri Properties with global infrastructure, best practices, and technology.
- BandwidthnotableTri Properties was awarded the property and facilities management contract for Bandwidth's new headquarters campus on Edwards Mill Road in Raleigh, NC. The campus encompasses 440,000 square feet of office space.
- NAI Carolantic RealtycoreTri Properties (Durham-based) merged with NAI Carolantic Realty (Raleigh-based) in November 2019, creating one of the largest full-service brokerage companies in the Triangle region with more than 75 years of combined local expertise.
- Wigeon Capitalkey clientNAI Tri Properties represented Wigeon Capital in multiple industrial development projects including leasing and sales of flex and warehouse buildings at Greenfield Business Park in Garner, NC. Jimmy Barnes and other brokers handled multiple transactions.
Scale indicators6 records
Recent moves5 records
Expansion highlights5 records
Tri Properties competitors and assessment
Company assessmentBroad incumbents
- Lee & Associates: North American full-service CRE brokerage and services firm with offices across the Carolinas. Competes with Tri Properties for office, industrial, and retail assignments in the Triangle.
- CBRE: World's largest commercial real estate services firm, operating in the Raleigh-Durham market across brokerage, property management, valuation, and capital markets. Competes with Tri Properties for institutional mandates in the Triangle.
- JLL: Global CRE services and investment management firm with a Raleigh office delivering brokerage, property management, and corporate services. Direct competitor to Tri Properties on institutional and corporate accounts in the Triangle.
- Cushman & Wakefield: Global CRE services firm with significant Triangle presence offering brokerage, asset services, and capital markets. Competes with Tri Properties for large leasing, investment sales, and property management mandates.
- Colliers: Global CRE services and investment firm operating across the Carolinas with brokerage, property management, and capital markets capabilities. Competes with Tri Properties across multiple property types in the Triangle.
- Avison Young: Global CRE services firm with a Raleigh office providing brokerage, property management, and consulting. Competes with Tri Properties for mid- to large-cap assignments in the Triangle market.
Direct peers
- Foundry Commercial: Raleigh-based full-service commercial real estate firm offering brokerage, property management, development, and investment services across the Triangle and Southeast. Comparable to Tri Properties in size, service mix, and Triangle market focus.
- Trinity Partners: Raleigh-headquartered commercial real estate firm providing brokerage, property management, development, and investment sales across the Carolinas. Closely comparable to Tri Properties in scale, regional focus, and full-service offerings.
- Lincoln Property Company: Large national CRE services firm with a strong property management and brokerage platform, including significant Triangle presence. Overlaps with Tri Properties on integrated brokerage and property management delivery.
Others
- NAI Global: Global CRE services network of which Tri Properties is the Triangle affiliate (NAI Tri Properties). Provides infrastructure, technology, and cross-market referrals that complement Tri Properties' local execution.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Tri Properties social profiles
Digital presenceTri Properties financial estimates
Financial estimateRevenue estimate
Valuation estimate
Tri Properties leadership team
Management profileNumber of profiles
Profiles10 records
Tri Properties subsidiaries and ownership
Company hierarchySubsidiaries2 records
Tri Properties funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Tri 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 Tri Properties
What does Tri Properties do?
Tri Properties is a full-service commercial real estate firm providing brokerage, leasing, investment sales, development, construction management, and property and facilities management across office, industrial, retail, flex, healthcare, and land property types in the Triangle (Raleigh-Durham) market. The firm manages 11.2 million square feet and has developed 5.7 million square feet of commercial real estate, operating through the NAI Tri Properties brand within the NAI Global network.
Is Tri Properties a public or private company?
Tri Properties is a private company. It is classified as management employee owned and is currently operating.
When was Tri Properties founded?
Tri Properties was founded in 1974. It employs 11 to 50 people.
Where is Tri Properties based?
Tri Properties is headquartered in Durham, United States, in the North America region.
How does Tri Properties make money?
Three revenue lines are on record. Brokerage and Leasing Commissions are the primary driver. The others are property and Facilities Management and development and Construction Services.
Who are Tri Properties's main competitors?
Broad incumbents on record are Lee & Associates, CBRE, JLL, Cushman & Wakefield, Colliers and Avison Young. Direct peers are Foundry Commercial, Trinity Partners and Lincoln Property Company. NAI Global is listed as an others.
Does Tri Properties have an API?
No public API is recorded for Tri Properties.
What industry is Tri Properties in?
Tri Properties's product category is Commercial Real Estate Services. Its primary akta.pro industry code is BPAJACAC, Flex / R&D Industrial Space Brokerage. Its NAICS code is 5312 and its SIC code is 6531.