AdVenture Development

What AdVenture Development does

AdVenture Development, LLC is a founder-owned commercial real estate development firm established in 2005 by Kevin Dougherty, headquartered in Selma, North Carolina with a regional office in Pittsburgh, Pennsylvania. The company acquires, develops, leases, and manages large-scale master-planned mixed-use properties in the Mid-Atlantic and Southeast United States, with current flagship assets being McCandless Crossing (135 acres, 1.2 million sq ft in the North Hills of Pittsburgh) and Eastfield (435 acres, 3 million sq ft of entitled space on I-95 in the Raleigh metro area). Revenue is generated through development services (development fees, land sales, project completion), recurring property management of owned and managed assets, and tenant representation and consulting engagements. Customers are national and regional retailers, restaurant chains, hospitality operators (Marriott, Hilton), healthcare providers, industrial/manufacturing tenants (Veetee Foods), and residential developers (NRP Group).

The company's product portfolio is built around mixed-use ecosystems integrating retail, medical, hospitality, office, entertainment, senior living, and residential components, supported by strategic infrastructure such as highway-visible retail centers, rail-served industrial business parks, and entitled multifamily land parcels. Its go-to-market operates through direct enterprise outreach to national brand expansion teams, combined with on-site leasing, public relations, community events, and an owned media presence (website, social, newsletter). Pricing and development fees are negotiated bilaterally on a project-by-project basis and not publicly disclosed.

Business model is asset-heavy and capital-intensive: AdVenture controls raw land through acquisition, secures multi-year entitlements, delivers horizontal infrastructure, then develops or sells parcels to anchor tenants and builders while retaining selected assets for ongoing property management. The founder-led structure with no institutional investor, parent company, or funding rounds on record, alongside a lean leadership team (President, project manager, project/property manager, and accounting), indicates an operationally compact developer that monetizes primarily through real estate value creation, leasing economics, and management fees rather than high-velocity service revenue.

Name

AdVenture Development

Legal name

Adventure Development, LLC

Website

https://adventuredev.com

Company type

Private

Founded year

2005

Operating status

Operating

Headcount range

1–10 employees

Short description

AdVenture Development is a founder-owned commercial real estate firm that develops and manages large master-planned mixed-use properties — including McCandless Crossing in Pittsburgh and Eastfield in the Raleigh metro — serving national retailers, restaurants, hospitality operators, industrial tenants, and residential developers.

Ownership category

akta.pro rank

Headquarters

HQ city

Raleigh

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Supply Chain, Operations, Marketing or Sales

Revenue model

1. Development Services: Revenue generated from developing mixed-use commercial real estate projects including retail, medical, hospitality, entertainment, office, and residential properties. Income derived from development fees, land sales to builders and tenants, and project completion.
2. Property Management: Ongoing property management services for owned and managed commercial properties including McCandless Crossing and Eastfield developments.
3. Tenant Representation & Consulting: Consulting services for commercial real estate clients and tenant representation services.

Go-to-market motion1 record

Distribution channels3 records

Marketing channels5 records

Core offering

AdVenture Development is a commercial real estate development firm that acquires, entitles, develops, leases, and manages large-scale master-planned mixed-use properties in the Mid-Atlantic region. The company develops integrated environments combining retail, medical, hospitality, office, entertainment, industrial/manufacturing, residential, and senior living space, anchored by flagship projects McCandless Crossing (Pittsburgh, PA) and Eastfield (Selma/Raleigh, NC). It also provides ongoing property management, tenant representation, and consulting services for its owned and managed portfolio.

Product overview

AdVenture Development is a multifaceted commercial real estate company organized as a single unified business offering development, acquisition, property management, tenant representation, and consulting services. The company's core product portfolio consists of large-scale mixed-use developments: McCandless Crossing (a 1.2 million sq. ft. development in Pittsburgh, PA) and Eastfield (a 435-acre, 3 million sq. ft. mixed-use project in Selma, NC). Supporting properties include Triangle East Collaborative (75,000 sq. ft. multi-purpose building) and Pine Needle Square. The Eastfield development encompasses several named sub-products including the Business Park (1 million+ sq. ft. industrial/manufacturing), Town Center (500,000 sq. ft. retail), Eastfield Farms (single-family homes), and hotel sites. All developments are supported by the company's service offerings in property management, acquisition, tenant representation, and consulting.

Differentiator

Problem solved

Functional benefit

Brands

• McCandless Crossing: A 135 +/- acre mixed-use development in the North Hills of Pittsburgh, PA featuring 1.2 million sq. ft. of retail, medical, hospitality, office, entertainment, residential and senior living space.
• Eastfield Crossing
• Triangle East Collaborative (TEC)

Products and services

• McCandless Crossing A 135-acre mixed-use development in the North Hills of Pittsburgh, PA featuring 1.2 million sq. ft. of retail, medical, hospitality, office, entertainment, residential, and senior living space. Anchor tenants include Lowe's Home Improvement, HomeGoods, Old Navy, Cinemark, Trader Joe's, Panera Bread, Bonefish Grill, Fairfield Inn & Suites by Marriott, and Hampton Inn & Suites by Hilton.
• Eastfield (Eastfield Crossing) A 435-acre master-planned mixed-use development on I-95 at exits 97 and 98 in Selma, NC (Raleigh metro), entitled for over 3 million sq. ft. including business park, medical space, retail space, three hotels, senior living, multi-family, single-family, and entertainment facilities. The Eastfield Town Center features 500,000 sq. ft. of retail anchored by Target, BJ's Wholesale Club, Academy Sports, Ross, Burlington, Ulta Beauty, Old Navy, and Hobby Lobby, with restaurants including Olive Garden, LongHorn Steakhouse, Chick-fil-A, and Panda Express.
• Triangle East Collaborative (TEC) A 75,000 sq. ft. multi-purpose building located at the exit 97 interchange of I-95 and Hwy 70 (Selma) in the Raleigh, NC metro area. The former JR's Retail Outlet has been repurposed to include retail, event meeting space, co-working space, food hall, and other business uses. Current tenants include Fresenius, Carolina Wholesale Flooring, and JR Cigar.
• Pine Needle Square A commercial development property managed by AdVenture Development featuring Jernigan Furniture as a tenant.
• Eastfield Business Park A 1 million+ sq. ft. business park located in the center of the eastern seaboard along I-95, offering north, south, east and west highway and rail access for industrial and manufacturing tenants. Veetee Foods, a global food company, will open a new manufacturing facility at the park.
• Eastfield Town Center The retail center of Eastfield featuring 500,000 sq. ft. of retail space with dining and shopping options including Olive Garden, Chick-fil-A, LongHorn Steakhouse, Target, BJ's Wholesale Club, and other national retailers.
• Eastfield Farms Single-family home community within the Eastfield development featuring homes with access to local amenities, shopping facilities, dining, and recreational activities within the master-planned community.
• Commercial Real Estate Development Services Commercial real estate development services including master-planned mixed-use projects spanning retail, medical, hospitality, office, entertainment, residential, and senior living. Services include land acquisition, entitlement, site planning, construction oversight, and tenant coordination.
• Property Management Services Property management services for commercial real estate holdings including tenant relations, maintenance, lease administration, and operational management for properties including McCandless Crossing and Eastfield.
• Real Estate Acquisition Services Real estate acquisition services including identification, evaluation, negotiation, and purchase of commercial properties and land for development.
• Tenant Representation Tenant representation services helping businesses identify, evaluate, and secure commercial space within AdVenture Development properties and the broader Mid-Atlantic market.
• Commercial Real Estate Consulting Services Real estate consulting services for commercial development projects covering market feasibility, site evaluation, and development strategy across Pennsylvania, Ohio, Virginia, West Virginia, and North Carolina.

Named customers22 records

Segments4 records

Ideal customer profiles5 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Three partnerships are on record, tiered core.

• The NRP GroupcoreStrategic or Co-development Partner · 25 September 2025AdVenture Development completed a land sale of more than 14.5 acres to The NRP Group of Cleveland, Ohio for Eastfield Village, a 348-unit multifamily community serving Johnston County, NC. This partnership brings residential component to the mixed-use Eastfield development.
• Veetee FoodscoreStrategic or Co-development Partner · 19 September 2024Veetee Foods, a global food company, will open a new manufacturing facility at Eastfield. This industrial/manufacturing tenant represents the business park component of the mixed-use development.
• Hilton Hotels (Hampton Inn & Suites)coreStrategic or Co-development Partner · 7 July 2023AdVenture Development was awarded a Hampton Inn & Suites franchise from Hilton Hotels in July 2023, with plans to construct a new hotel property in the North Hills of Pittsburgh area. This represents a significant hospitality expansion following the success of Fairfield Inn & Suites at McCandless Crossing.

Scale indicators8 records

Recent moves8 records

Expansion highlights5 records

Direct peers

• Casto: Casto is a private, vertically integrated real estate company that develops, owns, and manages retail, multifamily, and mixed-use properties. It is a direct peer to AdVenture Development in operating model and customer mix (national retailers, residential operators, hospitality).
• Trademark Property Company: Trademark Property Company is a private, mixed-use real estate investment and development firm operating mixed-use town centers and lifestyle centers anchored by national retailers. Its ground-up master-planned approach and tenant mix closely mirror AdVenture's McCandless Crossing and Eastfield model.
• RD Management: RD Management is a private, full-service real estate development and management firm operating retail, mixed-use, and entertainment properties across the U.S. Its combined development, leasing, and property-management activities are directly comparable to AdVenture's integrated service offerings.
• Pine Tree Commercial Realty: Pine Tree Commercial Realty is a private retail real estate operating company that develops, owns, and manages grocery-anchored and mixed-use shopping centers with national retailers. Its core tenant-leasing and asset-management activities are directly comparable to AdVenture's property management and tenant representation streams.
• The John Buck Company: The John Buck Company is a private, founder-led mixed-use real estate developer active in major U.S. metros. It is directly comparable to AdVenture Development in business model (master-planned mixed-use, anchor-tenant leasing, property management) and target customer (national retailers, hospitality operators, office users).
• Continental Real Estate Companies: Continental Real Estate Companies is a private commercial real estate investment, development, and management firm focused on retail and mixed-use assets. It is a direct peer to AdVenture in scale, asset class focus, and the integrated development-plus-property-management model.

Broad incumbents

• SITE Centers: SITE Centers is a public REIT that owns open-air shopping centers anchored by necessity-based and value-oriented retailers. It is a broad incumbent peer to AdVenture's retail-anchored Eastfield Town Center and McCandless Crossing, given overlapping tenant bases (Target-anchored, value-retail mix).
• Regency Centers: Regency Centers is a national REIT that owns and operates grocery-anchored shopping centers and mixed-use destinations. It is comparable as a broad incumbent peer given similar anchor-tenant strategies (national grocers, fitness, dining) and mixed-use positioning, even though its portfolio is far larger and more geographically diversified.
• Federal Realty Investment Trust: Federal Realty is a public REIT focused on open-air, mixed-use shopping and transit-oriented centers anchored by grocery, dining, and entertainment tenants. It is a broad incumbent peer because it owns and operates a portfolio overlapping in tenant mix (Target, Trader Joe's, etc.) and mixed-use format, though it does not focus exclusively on AdVenture's Mid-Atlantic submarket.
• Kimco Realty: Kimco Realty is a large public REIT that owns and operates open-air shopping centers primarily anchored by grocery, discount, and home-improvement tenants. It is a broad incumbent peer to AdVenture's retail-anchored McCandless Crossing and Eastfield Town Center, offering overlapping tenant rosters but at a national portfolio scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks1 record

Key highlights7 records

Customer concentration

• Xtwitter.com/mccandlesscrossing
• Facebookfacebook.com/mccandlesscrossing
• Instagraminstagram.com/mccandlesscrossing

Revenue estimate

Valuation estimate

Number of profiles

Profiles4 records

Funding overview

Funding rounds1 record

Investors1 record

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 AdVenture Development