US Federal Properties

What US Federal Properties does

US Federal Properties (USFP) is a private Kansas City, Missouri-based real estate development firm that develops, finances, owns, and operates properties leased primarily to U.S. federal government agencies, with additional healthcare and retail exposure. The firm operates three verticals — Government, Healthcare, and Retail — and reports 35 properties across 18 states, with more than $800M completed in government, medical, and retail projects and more than $1B in retail assets over the past decade. Its core government work centers on GSA-leased office buildings and VA outpatient clinics delivered under the PACT model, with additional federal tenants including the FBI, DHS, and DOJ.

The company's capabilities include LEED Silver and Gold-certified development, specialized delivery of VA outpatient clinics via the PACT structure, and construction of technically demanding medical assets such as proton therapy facilities and acute-care hospitals (e.g., Rock Regional Hospital in Derby, KS). In retail, USFP has built a preferred-developer relationship with Dollar Tree, delivering 125+ stores nationally. The firm operates through a lean principal-led structure (1-10 employees) anchored by Rick Baier (40 years industry experience), Dan Carr (37 years), and CFO/Principal Kevin Kelly (joined 2010), both Baier and Carr having prior GSA experience. A subsidiary, CBC Real Estate Group, supports adjacent commercial real estate activity.

USFP's business model combines long-term owned real estate (yielding rental income from government and retail leases) with project-based development fees. Its customers are predominantly federal agencies on the government side and national retail tenants on the retail side, with healthcare delivery expanding via direct hospital and specialty facility partnerships. No external funding rounds, parent company, or revenue figures are disclosed.

Name

US Federal Properties

Legal name

US Federal Properties Co.

Website

https://usfpco.com

Company type

Private

Founded year

2010

Operating status

Operating

Headcount range

1–10 employees

Short description

US Federal Properties is a Kansas City-based private real estate developer that builds, finances, and owns properties primarily leased to U.S. federal agencies, with additional healthcare and retail (Dollar Tree) exposure across 18 states.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Development

NAICS

Lessors of Nonresidential Buildings (except Miniwarehouses) (53112), Nonresidential Building Construction (2362)

SIC

Real Estate Dealers (For Their Own Account) (6532), Investors, Nec (6799)

akta.pro primary industry

Public Property & Asset Management (Federal Buildings, Fleet, Land) (BPAIAAAJ)

akta.pro secondary industry

Healthcare & Medical Office Property Management (BPAJAGAF)

Keywords

• Commercial real estate development
• Federal government properties
• Healthcare real estate
• Retail property development
• Build-to-suit development

Headquarters

HQ city

Kansas City

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Real Estate Development: Full-service real estate development from $1 million to over $300 million projects. Services include market analysis, site selection, due diligence, entitlements, permitting, financing, acquisition, and construction management.
2. Property Ownership and Leasing: Company develops, finances, owns and operates properties leased to federal government agencies and credit-worthy tenants. Government properties are 100% leased by the federal government.
3. Retail Development Partnership: Preferred development partner for retail brands like Dollar Tree, executing site selection, land acquisition, and store development. Completed or under development in excess of 125 Dollar Tree locations.

Pricing tiers

Go-to-market motion1 record

Distribution channels1 record

Marketing channels4 records

Core offering

US Federal Properties is a privately-held commercial real estate development firm that acquires, develops, finances, owns, and operates build-to-suit properties leased to the U.S. federal government and other credit-worthy tenants. The company focuses on three verticals: government facilities (VA outpatient clinics, federal office buildings), healthcare properties (hospitals, medical offices, senior living), and retail properties (preferred development partner for Dollar Tree with 125+ locations). Project sizes range from $1 million to over $300 million.

Differentiator

Problem solved

Functional benefit

Products and services

• Government Developed Properties Full-service development of state-of-the-art buildings 100% leased by the U.S. federal government on behalf of agencies including the Department of Veterans Affairs, FBI, DEA, GSA, DHS, and DOJ. Includes market analysis, site selection, due diligence, entitlements, permitting, financing, acquisition, and construction management.
• Healthcare Properties Healthcare real estate development for single and multi-tenant healthcare practices including hospitals, medical office buildings, outpatient clinics, and specialized healthcare facilities with sustainable, energy-efficient design. Examples include Rock Regional Hospital ($46M) and Oxford Senior Living projects.
• Retail Properties Retail real estate development ranging from single tenant stand-alone buildings to multi-tenant regional power centers for national brands. Includes site selection, land acquisition, entitlements, financing, and store construction. Over $1 billion in retail assets developed over the last decade.
• Rock Regional Hospital Development A 90,000 sq ft, 30-bed general acute care hospital and adjacent 25,000 sq ft medical office building in Derby, Kansas. $46 million facility including surgical suites, cath lab, and emergency department. Developed in partnership with Candor Healthcare.
• Dollar Tree Store Development Partnership Preferred development partner for Dollar Tree stores, executing site selection, land acquisition, and store development. 125+ locations completed or under development through a multi-year partnership with the national retail brand.

Quantifiable outcome

• 5+ million square feet of commercial real estate developed and owned
• +4 more outcomes

Named customers9 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Five partnerships are on record, tiered core and major.

• Dollar TreecoreStrategic or Co-development PartnerPreferred development partner for Dollar Tree stores. Execute site selection, land acquisition, and store development. During multi-year partnership have created complete and efficient development process working with skilled architects, general contractors and Dollar Tree corporate team. Have completed or have under development in excess of 125 locations.
• Hoefer Wysocki ArchitecturecoreTechnology or IntegrationLeads architectural and interior design for VA healthcare clinics including San Jose, Grand Rapids, Colorado Springs, Jacksonville, Montgomery, San Antonio, Lubbock, Chattanooga, Phoenix, Birmingham, and Mobile locations.
• Jacobsen ConstructionmajorTechnology or IntegrationGeneral contractor for multiple VA clinic projects including San Jose and San Antonio clinics.
• Oxford Senior LivingmajorStrategic or Co-development PartnerJoint venture partner for multiple senior living communities including Oxford Glen Memory Care in Owasso OK ($6M), Oxford Grand Assisted Living and Memory Care projects in Kansas City MO and McKinney TX ($15M each).
• Candor HealthcaremajorTechnology or IntegrationHospital management partner for Rock Regional Hospital in Derby, KS. Candor Healthcare has proven track record of successfully developing and managing hospitals and healthcare facilities.

Scale indicators6 records

Recent moves7 records

Expansion highlights4 records

Broad incumbents

• Healthcare Realty Trust: Public healthcare real estate owner/developer focused on medical office buildings and outpatient facilities. Compares to USFP's healthcare property vertical including MOBs and outpatient developments.
• Office Properties Income Trust (formerly Government Properties Income Trust): Public REIT that owns single-tenant net-leased office properties leased to the U.S. federal government and state governments—the closest publicly traded analog to USFP's government-leased portfolio, although at much larger scale.
• Welltower: Large healthcare-focused REIT with a medical office building portfolio among other healthcare assets. Compares to USFP's healthcare MOB and outpatient practice.
• Ventas: Public REIT with a significant medical office and outpatient portfolio. Comparable to USFP's healthcare development and ownership business at much larger scale.

Direct peers

• HSA Commercial Real Estate: Midwest-headquartered commercial real estate developer and owner with a diversified portfolio across office, healthcare, retail, and government-leased properties. Comparable to USFP in scale, multi-vertical development model, and geographic base.
• St. John Properties: Privately held commercial real estate developer that builds, owns, and manages office, retail, healthcare, and government/flex space across multiple states. Comparable to USFP in build-to-suit approach and integrated development-to-ownership model.
• The NRP Group: Privately held developer of multifamily, mixed-use, and commercial properties across multiple states with in-house development, construction, and property management. Comparable to USFP's integrated build-to-suit approach and geographic expansion strategy.

Regional players

• NAI Latter & Blum / NAI Global affiliated regional developers: Network of regional commercial real estate firms providing brokerage, development, and property management services. Comparable to USFP's full-service real estate offering across office, retail, and healthcare segments.

Others

• Cushman & Wakefield (Government Investor Services / Healthcare practices): Global commercial real estate services firm with dedicated government-leased property and healthcare real estate practices. Comparable as an adjacent competitor and service provider in USFP's government and healthcare tenant categories.

Emerging players

• Confluent Development: Real estate developer focused on healthcare, mixed-use, and commercial developments including medical office buildings. Comparable to USFP's healthcare-focused build-to-suit and ownership activities.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/usfp-property-management-inc.

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles7 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 US Federal Properties