What Comunale Properties does

Comunale Properties is a privately-owned, vertically integrated industrial real estate company headquartered in Denver, Colorado, founded in 2005 and supported by 35+ years of operating experience in the firm's leadership. The company acquires, develops, and actively manages single and multi-tenant industrial properties across six US states — Arizona, Colorado, Ohio, Texas, and North Carolina — through wholly-owned subsidiaries Rectangle Group (investment management) and Sprink Construction (construction services). As of 2025 the portfolio comprises 45+ assets totaling more than 1.5 million square feet, with a reported occupancy rate above 99%.

The firm's vertically integrated platform combines in-house investment sourcing and capital access (Rectangle Group) with direct construction and design execution (Sprink Construction), enabling end-to-end control from acquisition and build-to-suit development through long-term asset and property management. Notable assets include Chandler Connection, a 200,000 square-foot last-mile Class A facility in Phoenix's Southeast Valley pre-leased to a mission-critical vendor serving the North American semiconductor market, and Mulberry Connection, nearly 165,000 square feet of infill Class A industrial space in Fort Collins, Colorado. Operational offices are maintained in Denver (headquarters), Akron, and Houston.

Comunale generates revenue through two streams: recurring rental income from single and multi-tenant industrial leases and one-time development and construction revenue from build-to-suit and speculative industrial projects. The go-to-market is direct enterprise B2B leasing targeting industrial tenants in advanced manufacturing, semiconductor, logistics, and last-mile distribution, with an explicit strategy of concentrating investment in supply-constrained, high-barrier industrial submarkets. Ownership and leadership are concentrated in the founding Comunale family — President John Comunale heads the firm — with no institutional or private equity ownership signals in the available data. The team of roughly 18 full-time professionals spans investments, asset management, operations, accounting, legal, IR/marketing, and field-level facilities and construction management.

Name

Comunale Properties

Legal name

Comunale Properties

Website

https://comunaleproperties.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

11–50 employees

Short description

Comunale Properties is a privately-owned, vertically integrated industrial real estate company that acquires, develops, and manages single and multi-tenant industrial properties across six US states through wholly-owned subsidiaries Rectangle Group and Sprink Construction.

Ownership category

akta.pro rank

Headquarters

HQ city

Denver

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Infrastructure, Operations, Marketing or Sales

Revenue model

1. Industrial Property Rental Income: Revenue generated from leasing single and multi-tenant industrial properties across their portfolio. Properties include small-bay assets, last-mile facilities, and Class A industrial spaces.
2. Property Development: Development and sale or lease of newly constructed industrial properties. The company develops properties through its Sprink Construction subsidiary, including build-to-suit facilities.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Comunale Properties acquires, develops, and manages single and multi-tenant industrial properties, including small-bay assets, last-mile facilities, and Class A industrial spaces. It operates a vertically integrated platform through two subsidiaries: Rectangle Group, which provides investment management and capital deployment, and Sprink Construction, which delivers in-house construction and design services for build-to-suit facilities. The portfolio includes 45+ assets totaling 1.5M+ square feet across Colorado, Arizona, Ohio, Texas, and North Carolina.

Product overview

Comunale Properties is a privately-owned, fully-integrated real estate platform offering a single point of contact for investment, management, and development of industrial properties. The platform operates through two key subsidiaries: Rectangle Group (investment management with strong capital access and execution speed) and Sprink Construction (construction and design services with sophisticated investment acumen). The product portfolio includes 45+ industrial assets totaling 1.5M+ square feet across 6 states, featuring properties such as Chandler Connection (200,000 SF last-mile Class A facility), Mulberry Connection (165,000 SF in Fort Collins), and various small-bay and multi-tenant industrial properties. The company maintains 99%+ occupancy across its portfolio and provides vertically integrated services from acquisition through active asset management.

Differentiator

Problem solved

Functional benefit

Products and services

• Industrial Property Leasing & Management Direct leasing and active asset management of single and multi-tenant industrial properties to corporate tenants requiring warehousing, manufacturing, last-mile logistics, and distribution space across high-growth U.S. markets.
• Rectangle Group (Investment Management) Investment management platform providing capital access, deal execution speed, and a long-term investment horizon for industrial real estate acquisitions and investments on behalf of Comunale Properties.
• Sprink Construction (Construction Services) Construction and design subsidiary providing in-house build-to-suit execution, combining deep-rooted construction experience with sophisticated investment acumen for industrial property development.
• Industrial Property Portfolio (Chandler Connection, Mulberry Connection, etc.) Owned-and-leased industrial real estate assets totaling 45+ properties and 1.5M+ square feet across 6 states; featured holdings include the 200,000 SF Chandler Connection last-mile Class A facility in Phoenix's Southeast Valley and the 165,000 SF Mulberry Connection infill Class A facility in Fort Collins, Colorado.

Named customers1 record

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Two partnerships are on record, tiered core.

• Rectangle GroupcoreStrategic or Co-development PartnerSubsidiary investment management platform that provides strong access to capital, speed of execution, and long-term time horizon for Comunale Properties' real estate acquisitions and investments.
• Sprink ConstructioncoreStrategic or Co-development PartnerSubsidiary construction company providing deep-rooted construction and design experience. Enables Comunale Properties to execute development projects internally, from plan and design through execution.

Scale indicators6 records

Recent moves4 records

Expansion highlights4 records

Direct peers

• STAG Industrial: Public industrial REIT focused on single-tenant industrial properties across the U.S., with a strong footprint in the same Sun Belt and Midwest markets where Comunale operates. Comparable in tenant type (industrial/logistics) and asset profile, though at vastly greater scale.
• Terreno Realty Corporation: Industrial REIT focused on last-mile, infill industrial properties in six major U.S. coastal markets — directly comparable to Comunale's last-mile, infill thesis (e.g., Chandler Connection) and its Class A industrial focus.
• EastGroup Properties: Sun Belt-focused industrial REIT investing in last-mile distribution and light industrial properties in high-growth markets. Strong overlap with Comunale's stated focus on supply-constrained, high-growth industrial submarkets.
• First Industrial Realty Trust: National industrial REIT with a portfolio of light industrial and bulk distribution properties across the U.S. Operates in many of the same Sun Belt markets (Texas, Arizona, North Carolina) as Comunale, with comparable tenant and asset profiles.
• Rexford Industrial Realty: Industrial REIT focused on Southern California infill industrial — comparable to Comunale's infill, last-mile, Class A thesis, though geographically concentrated in a different region.
• Panattoni Development Company: One of the largest privately-held industrial real estate developers in the U.S., with significant Sun Belt and Western U.S. development activity. Directly comparable to Comunale as a vertically integrated industrial developer with in-house construction capabilities.
• Dermody Properties: Privately-held industrial developer focused on logistics and distribution properties across the U.S., with significant build-to-suit capability. Comparable as a vertically integrated industrial owner/developer with similar tenant types and geographies.
• Hillwood Industrial: Industrial real estate development arm of the Perot family's Hillwood, active in high-growth U.S. logistics markets including Texas, Arizona, and the Carolinas — overlapping directly with Comunale's footprint. Comparable as a large, family-controlled industrial developer.
• CenterPoint Properties: Privately-held industrial owner/developer focused on master-planned industrial parks, port-adjacent, and infill logistics. Comparable in business model (principal investor + developer + manager) to Comunale, with similar long-term hold strategy.
• Sealy & Company: Privately-held industrial owner-operator focused on Class A and value-add industrial properties across the Sun Belt. Comparable as a vertically integrated, privately-controlled industrial platform operating in many of the same growth markets as Comunale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

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Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries2 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 Comunale Properties