Mullins

What Mullins does

Mullins is a family-owned real estate development and management company headquartered in Madison, Wisconsin. The firm owns and operates a diversified portfolio of more than 200 tax parcels encompassing over 2 million square feet of commercial office, retail, warehouse, residential apartments, and hospitality assets. The portfolio is heavily concentrated in downtown Madison, particularly around the Capitol Square, with adjacent expansion into historic adaptive reuse projects such as 212 East Washington Avenue, the Ohio Medical Building, and the Gisholt Factory complex. The company also owns three hotels, two in Madison and one in St. Petersburg, Florida, marking its principal geographic diversification beyond Wisconsin.

The business operates on a traditional landlord-developer model, generating revenue through leasing of owned commercial and residential space, hotel operations, and the periodic acquisition, repositioning, and redevelopment of underutilized properties. The Mullins family's involvement spans multiple generations, with five family members described as active across the enterprise, and the company is registered under legal entity information including Mullins Group, Inc. The operating footprint is lean, with publicly reported headcount in the single digits to low double digits despite the scale of owned real estate, reflecting a hands-on, family-run management approach.

Mullins has pursued a multi-decade strategy of accumulating downtown Madison real estate and selectively expanding into adjacent districts, most visibly through the Capitol East District Vision Plan, a long-range redevelopment concept for approximately 27 acres. Technology plays a minimal role in the operating model, with the company's web presence built and maintained by an external software vendor and no disclosed use of proprietary technology platforms, automation systems, or AI-enabled building management. The company does not pursue venture funding and operates as a privately held family enterprise.

Name

Mullins

Legal name

Mullins Group, LLC

Website

https://mullinsgroup.com

Company type

Private

Founded year

1970

Operating status

Operating

Headcount range

1–10 employees

Short description

Mullins is a family-owned Madison, Wisconsin real estate development and management company owning 200+ tax parcels and 2+ million square feet of office, retail, warehouse, residential, and hospitality space, primarily around the Capitol Square with select out-of-state hotel holdings.

Ownership category

akta.pro rank

Headquarters

HQ city

Madison

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Marketing or Sales

Revenue model

1. Commercial Real Estate Leasing: The company generates revenue through the rental of commercial, office, retail, and warehouse space in downtown Madison, WI. Landlords charge tenants lease payments, typically structured as gross leases (as referenced in property listings). The portfolio also includes hotels and residential properties.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels1 record

Core offering

Mullins Group is a family-owned Madison real estate development and management company that rents commercial, office, retail, and warehouse space in downtown Madison, Wisconsin. The company also operates a residential portfolio of student and market-rate multi-family apartments and a hospitality division including hotels such as the Best Western Park Hotel on the Capitol Square.

Product overview

Mullins Group is a family-owned Madison real estate development and management company founded over 50 years ago. The company offers a diversified portfolio of commercial and residential real estate services. Commercial offerings include commercial office space leasing (featuring Class A buildings like 10 West Mifflin, 1400 East Washington, 22 East Mifflin, 2 East Mifflin Street, and 212 East Washington), retail space for lease, and warehouse/industrial space. The residential portfolio includes student and market rate multi-family housing. The company also operates a hospitality division with hotels including the Park Hotel (Best Western) on Madison's Capitol Square and properties in St. Petersburg, Florida. The portfolio spans over 2 million square feet across more than 200 tax parcels in downtown Madison.

Differentiator

Problem solved

Functional benefit

Segments3 records

Ideal customer profiles4 records

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 minor.

• Best Western (Park Hotel)minorOthersThe Mullins Group owns and references the Best Western Park Hotel located on the Capitol Square in Madison, WI. This appears to be a property ownership relationship within their hospitality portfolio, not a formal brand partnership.
• KMG Software, Inc.minorImplementation/ SI/ Consulting PartnerKMG Software, Inc. designed and maintains the Mullins Group website (mullinsgroup.com). This is a vendor relationship for web development services.

Scale indicators4 records

Recent moves1 record

Expansion highlights3 records

Broad incumbents

• Colliers International: Global commercial real estate services and investment management firm operating across office, retail, industrial, hospitality, and multifamily. Comparable to Mullins in the breadth of asset classes covered, though at much greater scale and as a service provider rather than direct owner.
• JLL: Global real estate services firm providing investment management, brokerage, and property management across office, retail, hospitality, and residential. Comparable to Mullins in covering the full spectrum of commercial real estate asset classes, though at vastly greater scale and as a third-party services provider rather than direct owner.
• Cushman & Wakefield: Global commercial real estate services firm with brokerage, property management, valuation, and consulting across office, retail, industrial, and multifamily. Comparable to Mullins in its focus on office, retail, and industrial properties, though as a services platform rather than a property owner.
• CBRE Group, Inc. World's largest commercial real estate services and investment firm, operating across brokerage, property management, and advisory for office, retail, industrial, and multifamily. Represents the institutional incumbent benchmark against which Mullins' boutique, owner-operator model is contrasted.
• Newmark Group, Inc. Commercial real estate advisory and services firm offering leasing, investment sales, and property management across all major asset classes. Comparable to Mullins in the office, retail, and industrial leasing segments, though Newmark operates as a third-party services firm rather than a direct property owner.
• Marcus & Millichap, Inc. Real estate investment sales and financing firm specializing in commercial properties including multifamily, retail, office, and hospitality. Comparable to Mullins in the commercial property segments covered, though as a transaction intermediary rather than direct owner/operator.
• Highwoods Properties, Inc. Publicly traded REIT focused on Class A office properties in the best business districts of select Sunbelt markets. Comparable to Mullins' Class A office portfolio on Madison's Capitol Square in product quality and target tenant profile, though Highwoods is a public, geographically-diversified REIT versus Mullins' private, single-market owner.

Regional players

• Marcus Hotels & Resorts: Wisconsin-based hotel ownership and management company with a Midwest portfolio. Directly comparable to Mullins' hospitality segment as a Wisconsin-rooted hotel operator with family-influenced ownership, though Marcus is the larger and more hospitality-focused of the two.

Others

• Best Western Hotels & Resorts: Global hotel brand and membership organization with properties worldwide and a member-franchise model. Currently the brand under which Mullins' Park Hotel on the Capitol Square operates, making it a directly relevant relationship-based peer for the hospitality portion of the portfolio.

Direct peers

• Inland Real Estate Group, Inc. One of the largest family-owned, diversified real estate companies in the U.S., with holdings spanning commercial, residential, and investment properties. Directly comparable to Mullins in its multi-generational family ownership, diversified multi-asset-class portfolio, and long-hold investment philosophy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/mullins-group

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

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 Mullins