Elevation Real Estate

What Elevation Real Estate does

Elevation Real Estate Group is a Huntersville, North Carolina-based private commercial real estate firm operating as a family of entities focused on the acquisition, development, redevelopment, leasing, and management of commercial real estate across the Southeast United States. The company was founded in 2015 and operates through three principal units: Elevation Acquisition & Development (deal sourcing, acquisition, and development across retail, office, multi-family, and hotel property types), Elevation Retail Management (third-party property management for commercial portfolios), and the Focus Office Suites sub-brand (turnkey professional office space launched in November 2020). Capital is deployed through joint ventures with institutional investors, family trusts, and personal investors, with the principals maintaining equity positions in projects alongside their capital partners.

The firm's investment strategy targets underperforming, under-leased, and under-developed properties in growing Southeast markets at below-market cap rates, with stated targets of 15-20% IRR and 7-8% annual cash flow yields upon acquisition. Active and historical projects include Riverside Crossing (78,350 SF, Greer SC), Rio Norte Shopping Center (260,000 SF, Laredo TX), Parc Place @ Short Pump (82,968 SF, Richmond VA), Granger Village (204-unit multi-family, Mooresville NC), and Focus Office Suites (22,300 SF, Huntersville NC). Tenant relationships span national retailers and brands including LA Fitness, Lowe's Foods, Heartland Dental, Great Clips, Smoothie King, Orangetheory Fitness, Starbucks, Ross Stores, Belk, Dollar Tree, and PetSmart. The technology stack is described as "not technology-focused"; the firm operates through relationship-based deal sourcing and human-led underwriting.

Revenue is generated through transaction-based fees (acquisition fees, development fees), equity participation and profit promote in joint venture projects, and recurring third-party property management fees via Elevation Retail Management. The firm is led by co-founders Christopher La Mack and Dante Massaro, who co-manage all aspects of the business, supported by Managing Director William Stelma (finance and tax reporting, joined 2019 from Gemini Real Estate Advisors). Cumulative commercial real estate transaction volume across the leadership exceeds $1.5 billion, with $340M+ equity invested and 4M+ square feet leased and managed.

Name

Elevation Real Estate

Legal name

Elevation Real Estate Group, LLC

Website

https://elevation-re.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

11–50 employees

Short description

Elevation Real Estate Group is a Huntersville, NC-based private commercial real estate firm that acquires, develops, leases, and manages retail, office, multi-family, and hotel properties across the Southeast US via joint ventures with institutional and individual investors.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Development and Management

NAICS

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

SIC

Real Estate Dealers (For Their Own Account) (6532), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Real Estate Development Asset Management (Project/Construction-to-Stabilization) (BPAJAMAL)

akta.pro secondary industries

Real Estate Investment Management (Acquisitions & Dispositions) (BPAJAMAK), Property Management Advisory & Leasing Administration (FSAEAJAN)

Keywords

• Commercial real estate development
• Retail property acquisition
• Third-party property management
• Multi-family mixed-use development
• Grocery-anchored shopping centers

Headquarters

HQ city

Huntersville

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Supply Chain

Revenue model

1. Acquisition & Development Services: Elevation acquires, develops, and redevelops commercial properties throughout the Southeast. Revenue is generated through joint ventures with institutional investors, family trusts, and personal investors. The company takes equity positions in projects and earns returns through development fees, acquisition fees, and profit participation.
2. Third-Party Property Management: Elevation Retail Management provides third-party management services for commercial properties and real estate portfolios owned by others. This generates recurring management fee income.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Elevation Real Estate Group identifies, acquires, develops, redevelops, leases, and manages commercial real estate — primarily neighborhood and grocery-anchored retail centers, multi-family mixed-use properties, flexible office suites, and select hotel projects — across the Southeast United States, typically via joint ventures with institutional and individual capital partners. The firm also provides recurring third-party property management services through its wholly owned subsidiary Elevation Retail Management, with a stated investment thesis targeting under-managed and under-leased assets producing 15–20% IRRs with 7–8% stabilized annual cash yields.

Product overview

Elevation Real Estate Group operates as a family of companies with two core divisions: Elevation Acquisition & Development (identifies, acquires, and develops retail, office, multi-family, and hotel real estate through joint ventures) and Elevation Retail Management (third-party property management). The company also operates sub-brands including Focus Office Suites for turnkey office space. Their portfolio includes commercial developments across the Southeast, primarily in the retail, multi-family, office, and hotel sectors, with projects ranging from neighborhood shopping centers to regional malls and mixed-use complexes.

Differentiator

Problem solved

Functional benefit

Brands

• Focus Office Suites: Professional, turnkey office space brand with health and safety focus. First location opened in Huntersville, NC in November 2020.

Products and services

• Elevation Acquisition & Development Identifies, acquires, and develops high-quality commercial real estate (retail, office, multi-family, and hotel) through joint ventures with institutional investors, family trusts, and personal investors; generates development fees, acquisition fees, and profit participation on equity positions.
• Elevation Retail Management Third-party manager of commercial properties and real estate portfolios; provides leasing and management services for assets owned by others, generating recurring management fee income.
• Focus Office Suites Sub-brand offering professional, turnkey office space with a health and safety focus for professional tenants; first 22,300 SF Huntersville, NC location launched November 2020, planned to expand across the Greater Charlotte area.
• Granger Village 204-unit multi-family mixed-use complex on 18.6 acres in Mooresville, NC, including up to 15,500 SF of commercial retail/medical office space; Elevation's first multi-family development, co-developed with Great Lakes Capital.
• Parc Place @ Short Pump 82,968 SF retail shopping center in the Short Pump area of Richmond, Virginia, acquired by Elevation with Auerbach Funds and Beechmont Acquisitions and repositioned through a renovation and re-brand campaign.
• Riverside Crossing 78,350 SF grocery-anchored shopping center in Greer, South Carolina, developed by Elevation; delivered on time and under budget with stabilized annual investment returns exceeding 8% and an anticipated IRR above 21%.
• Rio Norte Shopping Center 260,000 SF regional shopping center in Laredo, Texas, acquired by Elevation in June 2017 and repositioned to 100% occupancy, delivering annual investment returns above 16% and an anticipated IRR above 30% on a 2-year hold.
• LA Fitness Build-to-Suit and Redevelopment Projects Historical single-tenant build-to-suit and redevelopment projects for LA Fitness, including Tinley Park, IL (45,000 SF build-to-suit), Richardson Village, TX (93,000 SF redevelopment), and Rowlett Crossing, TX (56,000 SF ground-up development).

Quantifiable outcome

• Targeted IRR of 15-20%
• +4 more outcomes

Named customers15 records

Segments5 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered supporting.

• L. F. JenningssupportingImplementation/ SI/ Consulting Partner · 1 August 2021Award-winning General Contractor based in Falls Church, Virginia engaged for Parc Place @ Short Pump renovation project including façade upgrades, new lighting, parking lot repairs, landscaping, and new marquee sign.
• Watkins McGowansupportingImplementation/ SI/ Consulting Partner · 1 August 2021Atlanta-based strategic communications firm engaged to create new brand and logo for Parc Place @ Short Pump reflecting the retail center's new direction.
• Finley DesignsupportingImplementation/ SI/ Consulting Partner · 1 February 2021Raleigh, North Carolina architectural firm engaged for Granger Village multi-family development. Finley Design is providing architectural services with an urban aesthetic for the multi-family buildings rather than traditional garden style.

Scale indicators10 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• Faison: Charlotte, NC-based full-service commercial real estate firm focused on development, acquisition, and management of retail, mixed-use, and office properties across the Southeast US. Highly comparable to Elevation in geography, asset class mix, and principal-led investment model.
• Trademark Properties: Charlotte, NC-based commercial real estate developer and investor specializing in retail, mixed-use, and office projects in the Carolinas and Southeast. Directly comparable to Elevation in regional focus, asset class mix, and project scale.
• The Shopping Center Group: Atlanta-based retail real estate advisory and brokerage firm focused exclusively on shopping centers in the Southeast US. Comparable to Elevation's Elevation Retail Management third-party leasing and management operations in the same regional retail niche.
• Mid-America Real Estate: Specialized retail real estate services firm providing property management, leasing, and investment sales for shopping centers primarily in the Midwest and Southeast. Directly comparable to Elevation Retail Management's third-party management and leasing business.

Broad incumbents

• Phillips Edison & Company: Publicly traded net-lease REIT focused on grocery-anchored neighborhood and community shopping centers. Broader incumbent operating at scale in the same grocery-anchored retail shopping center niche that Elevation targets with assets like Riverside Crossing.
• Regency Centers: National grocery-anchored shopping center REIT owning over $14B of retail real estate. A larger incumbent competing in the same grocery-anchored and necessity-retail shopping center submarket that Elevation's portfolio targets.
• Brixmor Property Group: Publicly traded retail REIT owning and operating a national portfolio of open-air shopping centers. Comparable as a large-scale incumbent in the community shopping center category Elevation specializes in.
• Kite Realty Group Trust: Retail REIT focused on open-air shopping centers in high-growth markets. Comparable to Elevation's Southeast-focused grocery-anchored and community center strategy, but operating at much greater scale as a public incumbent.
• JLL Retail: Global real estate services firm with a substantial retail capital markets, leasing, and property management practice. Comparable as a broad incumbent providing the same full-service CRE capabilities Elevation offers, including investment sales, leasing, and management.
• Cushman & Wakefield: Global commercial real estate services firm with retail capital markets, valuation, and property management practices. Comparable to Elevation as a broad incumbent offering overlapping investment sales, advisory, and management services in the retail and commercial sectors.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/ElevationRealEstateGroup
• LinkedInlinkedin.com/company/elevation-re

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Subsidiaries3 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 Elevation Real Estate