KRM Development

What KRM Development does

KRM Development Corporation is a privately held, full-service commercial real estate developer and landlord founded in 1963 and headquartered in Chestertown, Maryland. The company develops, owns, and operates a multi-state portfolio of approximately 2,117,538 square feet across 46 buildings spanning Maryland, Delaware, Georgia, Texas, Ohio, North Carolina, and Pennsylvania. Its product mix is anchored in industrial/flex and business-park assets, with selective mixed-use and medical-office exposure, developed either on a speculative basis or as build-to-suit projects for named tenants such as Dixon Valve.

The company's go-to-market is direct — long-cycle site selection, ground-up development, leasing, and in-house property management — supported by an affiliated construction entity (KRM Construction) that captures build margin internally and accelerates project delivery. Recent strategic activity is concentrated in large campus-scale projects, including the ~80-acre Chestertown Business Campus, the ~206-acre Duck Creek Business Campus in Smyrna, Delaware, the Western Sussex Business Campus via a partnership with the City of Seaford, and the ~85-acre Chesapeake Bay Business Park. Operating band is reported at 11–50 employees, consistent with a lean regional sponsor that relies on third-party leasing and property-management support at scale.

KRM monetizes the portfolio primarily through long-term triple-net or gross leases on owned real estate, supplemented by build-to-suit development fees and the internalized construction margin from its KRM Construction affiliate. Revenue, occupancy, and rent data are not publicly disclosed; pricing is set deal-by-deal depending on tenant credit, asset class, and remaining lease term. The customer base is segmented across industrial/logistics tenants, commercial businesses, and medical-office users, with anchor tenants accounting for a measurable portion of rent roll in specific assets (e.g., Dixon Valve at ~170,245 SF).

Name

KRM Development

Legal name

KRM Development Corporation

Website

https://krm-dev.com

Company type

Private

Founded year

1963

Operating status

Operating

Headcount range

11–50 employees

Short description

KRM Development Corporation is a privately held, full-service commercial real estate developer and landlord founded in 1963, owning approximately 2.1 million square feet across 46 buildings in 7 states and serving industrial, commercial, and medical-office tenants via direct development, build-to-suit, and leasing.

Ownership category

akta.pro rank

Headquarters

HQ city

Chestertown

HQ country

United States

HQ region

North America

Offices8 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Infrastructure, Operations, Personnel, Marketing or Sales

Revenue model

1. Commercial Real Estate Leasing: Rental income from leasing office, flex, and warehouse space across multiple business parks and properties. Revenue generated through commercial tenant leases.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

KRM Development Corporation is a full-service commercial real estate developer that develops, leases, and manages office, flex, and warehouse space across business parks in Maryland, Delaware, Georgia, Texas, Ohio, North Carolina, and Pennsylvania. The company maintains a ready inventory of available space across 46 buildings (2,117,538 SF) so tenants can occupy faster. It supports all phases of the real estate lifecycle — construction (via affiliate KRM Construction), leasing, space planning, and on-site property management — serving as a single-source landlord for commercial tenants.

Product overview

KRM Development Corporation is a full-service commercial real estate developer offering a comprehensive portfolio of property development, management, and leasing services. The core offering centers on developing and managing commercial real estate properties including office space, flex space, and warehouse facilities across business parks in multiple states. Key products include the Chesapeake Bay Business Park (85 acres in Stevensville, MD), Chestertown Business Park (28 acres), Duck Creek Business Campus (206 acres in Delaware), Western Sussex Business Campus (97 acres in Delaware), and Chestertown Business Campus (80-acre mixed-use development). The company supports all phases of development from construction through leasing and property management, positioning itself as a single-source full-service landlord for commercial tenants.

Differentiator

Problem solved

Functional benefit

Products and services

• Commercial Real Estate Development Full-service commercial real estate development encompassing property acquisition, construction, leasing, space planning, and property management across multiple states. Targets commercial tenants seeking office, flex, or warehouse space.
• Property Management Services On-site property management services for commercial tenants, including maintenance, tenant relations, and rental payment processing across KRM's business park and standalone property portfolio.
• Office Space Leasing Professional office space available for lease across multiple KRM business park locations in Maryland, Delaware, Georgia, Texas, Ohio, North Carolina, and Pennsylvania. Targets professional businesses seeking ready-to-occupy office locations.
• Flex Space Leasing Flexible warehouse and flex space facilities for lease accommodating manufacturing, distribution, and light industrial uses across KRM's multi-state business parks.
• Warehouse Space Leasing Warehouse space available for lease at KRM business park locations, particularly at Chesapeake Bay Business Park in Stevensville, MD. Suited for storage and distribution tenants.
• Build-to-Suit Development Custom build-to-suit development services allowing businesses to construct facilities tailored to their specific requirements on available lots at KRM business campuses.
• Chesapeake Bay Business Park An 85-acre business park located on Kent Island in Stevensville, MD (Queen Anne's County), offering office, warehouse, and flex space for lease across multiple KRM buildings (Bohemia, Chester, Corsica, Deerfield, Emory, Winchester).
• Chestertown Business Park A business park in Chestertown, MD featuring five buildings with space ranging from warehouse to flex to professional office space.
• Duck Creek Business Campus A 206-acre business campus in Smyrna, Delaware positioned between Routes 13 and 1, with potential capacity to house over 4,000 jobs across research, office, manufacturing, and warehousing industries.
• Western Sussex Business Campus A 97-acre business campus in Seaford, Delaware offering various lot sizes available for build-to-suit development.
• Chestertown Business Campus An 80-acre innovative business-living campus on Maryland's Eastern Shore featuring offices, flex business space, a fitness center, and walking/biking trails. Home to Dixon Valve's corporate headquarters.
• Gastonia Technology Park Located in Dallas/Gastonia, NC, Gastonia Technology Park is home to two KRM Development properties (lots 6 and 7), including a 170,245 SF office and manufacturing building.

Named customers1 record

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• KRM ConstructioncoreStrategic or Co-development PartnerConstruction affiliate company that handles construction services for KRM Development properties. Links to www.krmconstruction.com from the main KRM Development website. Provides vertical integration for property development services.

Scale indicators8 records

Recent moves8 records

Expansion highlights4 records

Broad incumbents

• Duke Realty (now part of Prologis): Was a leading US REIT focused on bulk industrial and modern logistics properties before its Prologis acquisition. Comparable to KRM in industrial/flex product focus, though at vastly greater scale.
• Highwoods Properties: Publicly traded REIT focused on Class A office and industrial properties in high-growth Sun Belt markets. Overlaps with KRM in Southeast geographic exposure and in office/industrial product.
• Cousins Properties: Sun Belt-focused publicly traded REIT developing and operating Class A office and mixed-use properties in markets including Atlanta, Austin, and Charlotte, where KRM also has presence (GA, TX, NC).
• The Howard Hughes Corporation: Publicly traded developer of large-scale master-planned communities and commercial districts across the US, including mixed-use office and flex product. Comparable to KRM in its master-planned business campus concept (e.g., Chestertown Business Campus).
• Liberty Property Trust (now part of Prologis): Acquired by Prologis in 2020, Liberty was a publicly traded REIT developing and leasing high-quality industrial and office properties across the US, including significant Mid-Atlantic exposure. Comparable to KRM at scale in industrial/flex product.

Direct peers

• St. John Properties: A privately held, full-service Mid-Atlantic commercial real estate developer and landlord that develops and manages Class A office, flex/R&D, and warehouse space across Maryland, Virginia, and other states. Closely comparable to KRM in business model, product mix, and Mid-Atlantic concentration.
• Peterson Companies: Large, privately held Mid-Atlantic real estate developer and investor active in commercial, office, industrial, and mixed-use assets. Comparable to KRM in private ownership, Mid-Atlantic concentration, and full-service development approach.
• Merritt Properties: Privately held commercial real estate developer focused on flex, warehouse, and office space primarily in the Mid-Atlantic (Maryland, Virginia, North Carolina). Directly comparable to KRM in product type, region, and full-service landlord model.
• LCOR: Integrated real estate investment, development, and management company operating multifamily, office, and mixed-use assets along the US East Coast. Comparable to KRM in vertically integrated development/management model and East Coast geography.

Regional players

• Chesapeake Real Estate Group: Mid-Atlantic-focused commercial real estate developer and investor active in Maryland and surrounding states. Comparable to KRM in regional scope and product type (industrial, office, flex).

Market position

Strengths4 records

Weaknesses4 records

Competitive moat3 records

Key risks5 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/krmdev
• LinkedInlinkedin.com/company/krm-development-corp.
• Instagraminstagram.com/krmdev

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Subsidiaries1 record

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 KRM Development