Commercial Realty Services

What Commercial Realty Services does

Commercial Realty Services, operating as CRS Development, is a privately held, family-owned commercial real estate development firm founded in 1999 by Kenneth Powers and headquartered at 818 Stonebrook Dr, Lebanon, Tennessee. The company develops, leases, and selectively sells commercial properties across four asset categories: retail strip centers, mixed-use developments, hospitality projects, and industrial / adaptive-reuse facilities. Its portfolio exceeds 1 million square feet of developed space across more than 30 commercial destinations, with flagship project Providence West in Mt. Juliet comprising approximately 500,000 square feet of mixed-use space housing hotels (Hampton Inn, Courtyard Nashville, Residence Inn), medical facilities (Providence Medical Pavilion, Centennial Pediatrics Plaza), national retail anchors (Walgreens, Goodwill, Regions Bank), and restaurants. Active and pipeline projects include Citi Station (retail, completed late summer 2024), Industrial Station (adaptive reuse, October 2025), Clearview Station (mixed-use, Q1 2027 delivery), Gorden Crossing in Gallatin, and planned Gladeville Station and Lebanon Marketplace.

CRS generates revenue primarily through triple-net (NNN) commercial leases, with disclosed asking rents of approximately $60/SF for retail space and $15/SF/YR for industrial space; historical practice also includes sale of completed developments. Tenant relationships span 50+ national and regional brands including Costco, Kroger, Walgreens, Starbucks, Chick-fil-A, In-N-Out, Dunkin', Regions Bank, Marriott, and Hampton. The company markets available space directly through an in-house leasing team led by Operations Director Tyler Oplinger and via LoopNet commercial real estate listings, supported by a website (crsnashville.com), Facebook, Instagram, and an email newsletter.

The firm operates with a small leadership team — Owner Kenneth Powers, Operations Director Tyler Oplinger, Construction Director Matt Powers, and Administration Director Melissa Hester — with no disclosed institutional investors, no funding rounds, no parent company, and no external capital partners. CRS is not a technology company: it maintains no proprietary software, APIs, AI products, or patents, and all digital touchpoints are standard commercial real estate marketing channels. Geographic operations are concentrated in Middle Tennessee submarkets including Lebanon, Mt. Juliet, Gallatin, Nashville, Hendersonville, and Hermitage.

Name

Commercial Realty Services

Legal name

CRS Development

Website

https://crsnashville.com

Company type

Private

Founded year

1999

Operating status

Operating

Short description

Commercial Realty Services (CRS Development) is a family-owned Middle Tennessee commercial real estate developer that builds, leases, and manages retail, mixed-use, hospitality, and industrial properties exceeding 1 million square feet for national and regional tenants.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Development

NAICS

Rental and Leasing Services (532)

SIC

Real Estate Dealers (For Their Own Account) (6532)

akta.pro primary industry

Retail Brokerage (BPAJABAB)

Keywords

• Commercial real estate development
• Mixed-use property development
• Retail property leasing
• Hospitality real estate
• Industrial adaptive reuse

Headquarters

HQ city

Mount Juliet

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Commercial Property Development and Leasing: CRS Development generates revenue through developing commercial properties and leasing space to tenants. Revenue includes base rent, NNN expenses, and potential percentage rent from retail tenants. The company also sells completed developments as seen with past retail projects.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels6 records

Core offering

Commercial Realty Services (CRS Development) is a Middle Tennessee commercial real estate development firm that acquires land, develops, owns, and leases commercial properties across four categories: retail strip centers and shopping centers, mixed-use communities combining commercial and recreational spaces, hospitality developments (hotels), and industrial/adaptive reuse projects. The company develops properties such as Providence West (flagship 500,000+ sq ft mixed-use), Citi Station, Clearview Station, and Industrial Station, leasing space to national and local brand tenants including Costco, Kroger, Walgreens, Starbucks, Chick-fil-A, and Marriott brands.

Product overview

Commercial Realty Services (CRS) Development is a commercial real estate development company specializing in Middle Tennessee. The company operates as a single-portfolio approach with multiple distinct property developments across four main categories: Retail developments (strip centers, single-tenant buildings), Mixed-Use developments (combining commercial, residential, and recreational spaces), Hospitality developments (hotels), and Industrial/Adaptive Reuse developments. Their current active projects include Citi Station (retail), Clearview Station (mixed-use), and Industrial Station (industrial/adaptive reuse). Their flagship development is Providence West in Mt. Juliet, a 40+ acre mixed-use destination featuring medical facilities, hotels, retailers, and dining. Past projects span healthcare facilities (Providence Medical Pavilion, Centennial Pediatrics Plaza), hospitality (Courtyard Nashville, Hampton Inn, Residence Inn), and various retail tenants (Walgreens, Goodwill, Regions Bank, restaurants).

Differentiator

Problem solved

Functional benefit

Products and services

• Citi Station A 4-tenant strip center retail development located at the hard corner of N. Mt Juliet Rd and E. Division St in Mount Juliet, Tennessee. Features high-end modern architectural finishes with 37,000+ daily vehicle traffic count. Three units available (1,300 SF, 1,700 SF, and 1,300 SF) leased to commercial retail tenants at $60/SF (NNN).
• Clearview Station A premium mixed-use development at 904 N Mount Juliet Rd in Mt. Juliet, Tennessee, scheduled for Q1 2027 completion. The 24,380 square-foot property offers restaurant, retail, and office space across two floors with an outdoor patio area. Positioned on N. Mt. Juliet Rd with daily traffic counts of 31,345.
• Industrial Station An industrial development at 335 Industrial Dr in Mount Juliet, Tennessee, featuring adaptive reuse of industrial spaces with flexible floor plans. First Floor units A/B at 8,720 SF available for lease at $15/SF/YR with convenient interstate access in the growing Middle Tennessee submarket.
• Providence West CRS's flagship mixed-use master-planned development spanning 40+ acres in Mt. Juliet, Tennessee, featuring medical facilities (Providence Medical Pavilion, Centennial Pediatrics Plaza), hotels (Courtyard Nashville, Hampton Inn, Residence Inn), national retailers (Walgreens, Goodwill, Regions Bank), and dining options. Expanded to approximately 500,000 square feet between 2005-2018.

Quantifiable outcome

• Over 1 million square feet of commercial space developed and managed
• +1 more outcomes

Named customers13 records

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Nine partnerships are on record, tiered core and major.

• CostcocoreChannel Partner/ Reseller/ DistributorCostco serves as an anchor tenant in CRS commercial retail developments. CRS develops retail spaces that Costco occupies as a major retail tenant, driving traffic to adjacent retail in CRS shopping centers.
• KrogercoreChannel Partner/ Reseller/ DistributorKroger serves as grocery anchor tenant in CRS retail developments. CRS develops retail centers featuring Kroger as a key tenant driving customer traffic to the development.
• WalgreenscoreChannel Partner/ Reseller/ DistributorWalgreens pharmacy operates as a retail/healthcare tenant in CRS commercial developments, contributing to the tenant mix in shopping centers.
• StarbuckscoreChannel Partner/ Reseller/ DistributorStarbucks coffee chain tenant in CRS retail developments, providing dining/service component to commercial centers.
• Chick-fil-AcoreChannel Partner/ Reseller/ DistributorChick-fil-A quick-service restaurant as tenant in CRS retail developments.
• Regions BankcoreChannel Partner/ Reseller/ DistributorRegions Bank operates as a financial services tenant in CRS commercial developments.
• Marriott InternationalcoreChannel Partner/ Reseller/ DistributorMarriott-branded hotels (Courtyard Nashville and Residence Inn) operate as hospitality tenants in CRS Providence West development.
• Ascension St. ThomasmajorChannel Partner/ Reseller/ DistributorAscension St. Thomas health system partnered with CRS for medical building development at Ascension St. Thomas Medical Building in Bellevue (2016-2022 portfolio).
• Hampton InncoreChannel Partner/ Reseller/ DistributorHampton Inn by Hilton hotel operated as hospitality tenant at Providence West in Mt. Juliet.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Direct peers

• RWS Development: Nashville-area commercial real estate developer focused on retail, mixed-use, and medical office. Comparable as a regional private developer competing for the same tenant base in the Nashville MSA submarkets.
• Southeast Venture: Nashville-based commercial real estate firm focused on development, investment, and brokerage across the Southeast. Directly comparable as a regional Nashville competitor pursuing mixed-use and commercial development in the same submarkets.
• Weingarten Realty Investors: Where founder Kenneth Powers began his career in 1986 delivering his first retail center. Weingarten is a long-standing retail and mixed-use CRE developer/owner with a national footprint, making it a directly comparable training-ground and category peer.
• GBT Realty: Tennessee-headquartered retail real estate developer specializing in ground-up shopping centers with national credit tenants. Closely comparable business model and tenant strategy to CRS in the same regional market.

Broad incumbents

• Regency Centers: National grocery-anchored shopping center developer and owner. Highly comparable to CRS's retail-anchored development model with national credit tenants, but at much larger public-company scale.
• Kimco Realty: One of the largest publicly traded retail REIT owners/developers in the U.S. Comparable business model of acquiring/developing open-air shopping centers leased to national tenants, though at vastly greater scale.
• Phillips Edison & Company: Public REIT focused on grocery-anchored neighborhood shopping centers. Closely aligned with CRS's strategy of building retail centers with national grocery and service tenants, but operating at national public-REIT scale.

Regional players

• Boyle Investment Company: Memphis-based, multigenerational private real estate developer with a long Tennessee track record in commercial, office, and mixed-use development. Comparable as a long-tenured, privately held Tennessee developer, though operating in a different submarket.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/CRSNashville
• Instagraminstagram.com/crsnashville
• Xx.com/crsnashville

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 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 Commercial Realty Services