What Priority Real Estate Group does

Priority Real Estate Group, LLC is a privately held, family-owned commercial real estate investment and development firm headquartered in Topsham, Maine, founded in 1998 by Jim Howard. The company operates across two integrated revenue streams: (1) an owner-operator model in which it acquires, develops, owns, and leases commercial properties across Maine and New Hampshire, and (2) a development-services model in which it provides site selection, architectural and site design, permitting, construction management, and budgeting for clients building their own facilities. Cumulative development since inception exceeds $300 million, with approximately $100 million deployed in the last five years and roughly $60 million of property currently owned at the Brunswick Landing redevelopment site alone.

The portfolio spans seven primary verticals: gas stations and convenience stores (anchored by the Rusty Lantern Markets brand and co-branded partnerships with Irving Oil, Shell, McDonald's, and Nouria Energy), office and medical office (Wayfair, Vivid Cloud, STARC Systems, RAYUS Radiology, Coastal Ortho, multiple banks), restaurants (Panera Bread, Jersey Mike's, Dunkin', Tim Hortons, Sam's Italian), car dealerships (Yankee Ford, Rockland Ford, Tucker Ford), banks and credit unions (Mechanics Savings, Bar Harbor Bank & Trust, First Federal), industrial and manufacturing (STARC Systems, Springworks Farm), and general retail (Goodwill, NAPA Auto Parts). Pricing is project-specific and quote-based, with no standardized tiers publicly disclosed.

The company is led by CEO Jim Howard, with his son Parker Howard in a leadership role and a small named team of six professionals including a VP of Engineering. Go-to-market is relationship-driven, anchored by the Bath-Brunswick-Topsham Chamber of Commerce, a longstanding co-development partnership with the Midcoast Regional Redevelopment Authority at Brunswick Landing, and preferred-developer status with national counterparties including Nouria Energy and Panera Bread. The firm self-funds development, retains ownership of completed assets, and operates without disclosed institutional equity, external funding rounds, or a parent company.

Name

Priority Real Estate Group

Legal name

Priority Real Estate Group, LLC

Website

https://priorityrealestategroup.com

Company type

Private

Founded year

1998

Operating status

Operating

Headcount range

11–50 employees

Short description

Priority Real Estate Group is a family-owned, Topsham, Maine-based commercial real estate developer and property owner serving Maine and New Hampshire, with $300M+ of cumulative development and preferred-developer relationships with Nouria Energy, Panera Bread, and the Midcoast Regional Redevelopment Authority.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Development

NAICS

Real Estate Property Managers (53131), Lessors of Real Estate (5311), Rental and Leasing Services (532)

SIC

Operators Of Nonresidential Buildings (6512), Lessors Of Real Property, Nec (6519), Operative Builders (1531)

akta.pro primary industry

Office Real Estate Asset Management (BPAJAMAG)

Keywords

• Commercial real estate development
• Build to suit construction
• Commercial property leasing
• Real estate investment
• Construction management services

Headquarters

HQ city

Topsham

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Marketing or Sales, Others

Revenue model

1. Property Leasing: Priority owns and leases all of its properties. The company generates recurring rental income from tenants across various property types including retail, office, medical, industrial, and convenience stores.
2. Real Estate Development Services: Provides real estate development and construction services to clients developing their own properties, including site selection, design, permitting, construction management, and budget management.
3. Build-to-Suit Construction: Build-to-suit value added construction management services where Priority develops properties for specific tenants, often with long-term lease arrangements.
4. Property Management: Maintains and manages properties for clients, providing ongoing property management and maintenance services.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Priority Real Estate Group is a commercial real estate investment and development company that develops, owns, and leases commercial properties for business clients. Its core services span site location, site and building design, permitting, construction management, build-to-suit value-added construction, property leasing, and ongoing property management and maintenance across office, medical, retail, restaurant, gas station/convenience store, car dealership, bank, and light industrial asset types in Maine and New Hampshire.

Product overview

Priority Real Estate Group is a commercial real estate investment and development company offering a portfolio of property types and development services. The company's core offering is commercial real estate development encompassing site selection, design, permitting, construction management, and property management. Key services include Build to Suit/Leasing, Real Estate Investment, and Construction Management. The company maintains a portfolio of properties including convenience stores under the Rusty Lantern Markets brand, professional office buildings like the Priority Business Center, and various commercial developments at Brunswick Landing. The company has built over $300,000,000 of commercial real estate since 1998.

Differentiator

Problem solved

Functional benefit

Products and services

• Build to Suit / Leasing

Quantifiable outcome

• $300,000,000 of commercial real estate built since 1998
• +2 more outcomes

Named customers17 records

Segments7 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered major, core and minor.

• Irving Oil (Rusty Lantern operation)majorChannel Partner/ Reseller/ Distributor · 1 January 2020Multiple Irving-branded locations operated by Rusty Lantern Markets including Topsham (Rusty's Market), Sabattus, Lisbon, and Augusta.
• Irving OilmajorChannel Partner/ Reseller/ Distributor · 1 January 2018Priority developed Augusta location (239 Riverside Drive) opened November 15, 2018. $4.2 million convenience store operated by Rusty Lantern Market's and branded with Irving gas. 4,300 sq ft, 10 gasoline pumps, 5 diesel pumps, 24-hour operation.
• Rusty Lantern MarketscoreStrategic or Co-development Partner · 1 January 2014Rusty Lantern Markets is Priority's primary partner for convenience store development. Priority built, owns, maintains and leases properties to Rusty Lantern. Multiple locations developed including Brunswick (2016), Portland (2016), Sabattus (2020), Lisbon (2018), Topsham (2013). Rusty Lantern CEO John Koch: 'We wanted a proprietary building design and floor plan to help differentiate the brand.'
• Panera Bread (PR Restaurants, LLC)majorChannel Partner/ Reseller/ Distributor · 1 January 2013Priority is a preferred developer for Panera Bread. Built Topsham Fair Mall location (4,100 sq ft) opened June 2013. Property has visibility from I-295, drive-thru, 75 dedicated parking spaces. Meticulous landscaping and attention to detail set new standard for future Panera locations.
• Midcoast Regional Redevelopment Authority (MRRA)coreStrategic or Co-development Partner · 1 January 2011MRRA oversees development of Brunswick Landing (former Brunswick Naval Air Station). Priority is one of a number of development partners that have allowed MRRA to accelerate growth at the Landing. Priority has permitted and sold about $80 million of development there and owns approximately $60 million worth of property. MRRA describes Priority as a 'quality developer' and key to making development a success story.
• Nouria Energy CorporationcoreStrategic or Co-development Partner · 1 January 2011Priority Real Estate Group is the preferred developer for Nouria Energy Corporation. Have completed multiple locations including Hollis, Thomaston, Scarborough, Sanford, and Wiscasset with Lil'Mart convenience stores co-branded with McDonald's and Dunkin' Donuts. Quote from COO John Koch: 'Priority functions as our preferred real estate and site development partner.'
• McDonald's (Franchise Development)majorChannel Partner/ Reseller/ Distributor · 1 January 2011Priority has developed multiple co-branded locations with McDonald's franchise operators including Nouria Energy locations with McDonald's restaurants. Locations include Hollis, Thomaston, Scarborough, Sanford, and Wiscasset.
• First Federal SavingsminorChannel Partner/ Reseller/ Distributor · 1 January 2010Priority developed Wiscasset location co-located with Nouria Lil'Mart, McDonald's, and First Federal Savings Bank branch.

Scale indicators7 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• ARCO National Construction: ARCO National Construction is a design/build general contractor with a national footprint focused on build-to-suit commercial, industrial, healthcare, and retail facilities. Directly comparable to Priority's core build-to-suit service and tenant development model.
• HallKeen Management: HallKeen is a New England commercial real estate investment, management, and development firm with a portfolio spanning office, retail, mixed-use, and residential. Comparable regional CRE owner/operator with a similar build-and-hold philosophy.
• Contegra Construction: Contegra is a design/build general contractor specializing in build-to-suit commercial, industrial, and medical facilities. Directly comparable to Priority's build-to-suit development capabilities and tenant-driven project model.
• ARKO Corp: ARKO Corp is a convenience store and fuel marketer/operator with thousands of locations across multiple banners including GPM Investments. Comparable to Priority's convenience/fuel real estate exposure through Rusty Lantern Markets, Nouria Energy, and Irving Oil partnerships.
• Brady Sullivan Properties: Brady Sullivan is a New Hampshire-based commercial real estate investment, development, and management firm with a portfolio of office, retail, industrial, and mixed-use properties across New England. Highly comparable as a regional CRE owner/developer/manager with a focus on value-add and build-to-suit.
• Murphy USA: Murphy USA operates 1,700+ convenience stores and fuel stations, many on owned real estate. Directly comparable to Priority's convenience/fuel development segment and co-branded site expertise.

Broad incumbents

• WS Development: WS Development is one of the largest privately-held retail and mixed-use developers in the US, with a portfolio anchored in New England. Comparable as a regional retail/mixed-use developer and property owner, but at significantly greater scale.
• Brixmor Property Group: Brixmor is a publicly-traded open-air shopping center REIT with over 370 properties nationwide. Comparable as a long-term retail real estate owner/operator with multi-tenant leasing and redevelopment capability similar to Priority's mixed-use developments.
• Phillips Edison & Company: Phillips Edison is a publicly-traded net-lease REIT focused on grocery-anchored shopping centers. Comparable as an owner of necessity-based retail real estate with multi-tenant relationships - parallel to Priority's retail strip center expertise.
• Kimco Realty: Kimco Realty is a large publicly-traded shopping center REIT with thousands of open-air shopping centers across the US. Comparable as a long-term owner/operator of retail and mixed-use commercial real estate, though at much greater scale and public market access.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/profile.php

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 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 Priority Real Estate Group