CenterCore Properties
CenterCore Properties is a private Evanston, Illinois-based real estate private equity firm that invests $5-20M in niche neighborhood retail and suburban office properties across emerging Midwest and Southeast US markets, serving high net worth and institutional investors with stabilized and value-add opportunities.
- Company typePrivate
- Founded2015
- HeadquartersEvanston, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What CenterCore Properties does
CenterCore Properties is a privately-held real estate private equity firm founded in 2015 and headquartered in Evanston, Illinois. The firm invests in niche commercial real estate sectors in emerging US markets, targeting both stabilized properties with strong cash yields and value-add opportunities where value is created through repositioning, renovation, or operational enhancement over 3-5 year holding periods. Deal sizes range from $5 million to $20 million, with a current portfolio of approximately eight named properties across Florida (The Market Shops at Sandestin, Draper 30A, Island Palms Shoppes), Illinois (Corporetum VI), and Missouri (Grand Village Shops, Lakeside Shops at Branson Landing, Palms Station, Runway Plaza, The Alley).
The firm is led by President Bob Duncan (35+ years of commercial real estate experience, including CFO roles at four national real estate firms and leadership of over $250 million in niche acquisitions) and Vice President Rob Duncan (joined July 2016 with 14 years of CRE experience across DCT Industrial, PwC, and GlenStar Properties). CenterCore augments its lean internal team with three regional market partners: Joe Bracciale in Destin, Florida, and Steve Critchfield and Bob Huels in Branson, Missouri, both partners at Commercial One Brokers.
CenterCore generates revenue through management fees, carried interest, and asset appreciation on direct private equity placements to high net worth individuals and institutional investors. Capital is raised deal-by-deal without an intermediary distribution layer, with partners co-investing substantial cash equity alongside LPs to align interests. The firm distributes primarily through professional networks including ICSC and ULI rather than traditional marketing channels, and emphasizes internet-resistant neighborhood retail and suburban office properties in defensible, demographically-favored submarkets rather than commodity real estate in oversaturated sectors.
CenterCore Properties firmographics
Firmographics- Name
- CenterCore Properties
- Legal name
- CenterCore Properties, LLC
- Website
- https://centercoreproperties.com
- Company type
- Private
- Founded year
- 2015
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- CenterCore Properties is a private Evanston, Illinois-based real estate private equity firm that invests $5-20M in niche neighborhood retail and suburban office properties across emerging Midwest and Southeast US markets, serving high net worth and institutional investors with stabilized and value-add opportunities.
- Ownership category
- akta.pro rank
CenterCore Properties industry classification
Industry- Product category
- Commercial Real Estate Investment
- NAICS
- Other Financial Investment Activities (5239), Portfolio Management and Investment Advice (52394), Other Financial Vehicles (52599)
- SIC
- Real Estate Dealers (For Their Own Account) (6532), Investors, Nec (6799), Investment Advice (6282)
- akta.pro primary industry
- Real Estate Funds — Core-Plus (FSANAEAG)
- akta.pro secondary industry
- Core Real Estate (Stabilized/Core-Plus) (FSAAAKAA)
Keywords
Where CenterCore Properties is headquartered
LocationHeadquarters
- HQ city
- Evanston
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
CenterCore Properties business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Others, Marketing or Sales
Revenue model
- Real Estate Investment Management: CenterCore generates returns through real estate private equity investments. The firm invests in stabilized properties offering strong initial cash yields and stable/growing cash flow, as well as value-add opportunities where value is created through repositioning, renovation, or operational enhancement over a 3-5 year holding period. Revenue is derived from management fees, carried interest on investment returns, and asset appreciation.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Stabilized Investments - Strong initial cash yields with stable/growing cash flow |
| Other | Multi-year contract | Value-Add Investments - Value creation through repositioning over 3-5 year holding period |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels3 records
CenterCore Properties product offering
Product offeringCore offering
CenterCore Properties is a real estate private equity firm that invests in niche commercial real estate sectors in emerging US markets, targeting deal sizes of $5-20 million. The firm offers two investment products: Stabilized Investments providing immediate cash yields and long-term appreciation, and Value-Add Investments creating value through repositioning, renovation, or operational enhancement over 3-5 year holding periods.
Product overview
CenterCore Properties is a real estate private equity firm structured as a single unified investment platform offering two investment product types: Stabilized Investments and Value-Add Investments. The firm focuses on niche real estate sectors in emerging markets with deal sizes ranging from $5-20 million, targeting neighborhood retail, mixed-use centers, and suburban office properties. The product portfolio includes 11 named properties across Florida (The Market Shops at Sandestin, Draper 30A, Island Palms Shoppes), Illinois (Corporetum VI), and Missouri (Grand Village Shops, Lakeside Shops at Branson Landing, Palms Station, Runway Plaza, The Alley), with investment strategies categorized as either stabilized (offering immediate cash yields and long-term appreciation) or value-add (creating value through repositioning over 3-5 year holding periods).
Differentiator
Problem solved
Functional benefit
Products and services
- Stabilized Investments Investment option offering strong initial cash yields, stable/growing cash flow to investors, tax efficiency and long-term appreciation. Aimed at investors seeking premium cash yields from niche real estate in emerging markets.
- Value-Add Investments Investment option featuring value creation through repositioning, renovation or operational enhancement, achieved over a 3-5 year holding period. Aimed at investors seeking appreciation upside in niche real estate.
- The Market Shops at Sandestin 53,000 SF retail/medical property in Destin, FL categorized as a stabilized investment in the tourism-driven Emerald Coast market.
- Draper 30A 12,000 SF office property in Santa Rosa Beach, FL categorized as a stabilized investment.
- Island Palms Shoppes 31,000 SF retail property categorized as a stabilized investment.
- Corporetum VI 168,000 SF office property in Lisle, IL categorized as a value-add investment.
- Grand Village Shops 50,000 SF retail property in Branson, MO categorized as a stabilized investment.
- Lakeside Shops at Branson Landing 30,000 SF new retail development in Branson, MO currently in leasing phase.
- Palms Station 20,000 SF retail property categorized as a stabilized investment.
- Runway Plaza 11,000 SF retail property categorized as a stabilized investment.
- The Alley Restaurant/Entertainment District 18,440 SF opportunity zone development in Branson, MO currently in pre-leasing phase.
Quantifiable outcome
- Premium cash yields compared to commodity real estate sectors in over-pursued markets
Companies that use CenterCore Properties
Customer profileSegments2 records
Ideal customer profiles1 record
CenterCore Properties technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
CenterCore Properties partnerships and signals
Strategic signalPartnerships
Four partnerships are on record, tiered core.
- Joe BraccialecoreJoe Bracciale is a Destin, FL-based real estate broker with over 25 years of experience, specializing in large asset management and sales in the Florida Panhandle region. As a market partner, he contributes to acquisition sourcing and leasing in Northwest Florida markets. Former President and Partner of Sandestin Real Estate and former Vice President of the Sandestin Owners Association.
- Steve CritchfieldcoreSteve Critchfield is a recognized expert in commercial and investment real estate in the Branson market with over 36 years of experience. He is a partner in the Commercial One Brokers real estate firm. He contributes to CenterCore's leasing, development, and financing initiatives in Branson, particularly pre-development planning and major tenant leasing.
- Bob HuelscoreBob Huels is a 29-year veteran of Branson's commercial real estate industry focusing on retail leasing and property management. He is a partner in the Commercial One Brokers real estate firm. He contributes through property management of Grand Village and Lakeside properties and new leasing and tenant renewals.
- Commercial One BrokerscoreBranson-based commercial real estate brokerage firm where market partners Steve Critchfield and Bob Huels are partners. The firm serves as part of the management team for CenterCore's Branson investments, handling leasing and property management activities.
Scale indicators4 records
Recent moves6 records
Expansion highlights4 records
CenterCore Properties competitors and assessment
Company assessmentBroad incumbents
- Phillips Edison & Company: Public REIT (PECO) focused on grocery-anchored neighborhood shopping centers. Comparable as a scaled operator of neighborhood retail in secondary markets; differs from CenterCore in its grocery anchor focus vs. CenterCore's tourist/retirement-market emphasis and in scale.
- Regency Centers Corporation: Large public REIT focused on grocery-anchored shopping centers in affluent suburban markets. Comparable retail property focus and demographically-driven submarket strategy, but operates at much greater scale and is publicly traded.
- Kite Realty Group Trust: Public REIT (KRG) focused on open-air shopping centers in growing Sun Belt markets. Comparable retail focus in demographic-driven (retiree/migration) submarkets that overlap with CenterCore's resort/retirement thesis, though at much larger scale.
- Brixmor Property Group: Public REIT (BRX) owning a large portfolio of open-air shopping centers. Comparable in retail property focus and secondary-market strategy, but operates at materially larger scale with a multi-billion-dollar AUM.
Emerging players
- Pine Tree Commercial Realty: Massachusetts-based private retail real estate investment and management firm operating opportunistic retail funds. Comparable in private, retail-focused real estate investment management but concentrated in the Northeast.
- NewLake Capital Partners: Public REIT (NLCP) providing sale-leaseback and real estate capital to cannabis operators. Not directly competing in retail but is a small, niche-focused externally-managed real estate investment vehicle — analogous in structure as a small specialty real estate manager with concentrated sub-sector exposure.
Direct peers
- Green Courte Partners: Chicago-area private equity firm focused on niche retail-related real estate including grocery-anchored shopping centers, urban retail, and parking. Directly comparable to CenterCore in niche-retail strategy; its former CFO/Managing Director Bob Duncan founded CenterCore, making it the closest functional and personnel analogue.
- Retail Opportunity Investments Corp: Public REIT (ROIC) specializing in necessity-based shopping centers on the West Coast. Comparable in focused retail strategy targeting infill, internet-resistant locations in growing demographics, though geographically and scale-divergent.
- Continental Realty Corporation: Mid-Atlantic based private real estate investment and management firm operating a value-add fund series focused on retail shopping centers and multifamily. Comparable as a private retail-focused investment manager executing stabilized and value-add strategies in secondary markets.
Regional players
- FRP Holdings: Small-cap public real estate company (FRPH) focused on industrial/warehouse, commercial land, and marinas in the Mid-Atlantic and Southeast. Comparable as a small, focused real estate investment firm targeting niche asset classes in select regional markets.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights6 records
Customer concentration
CenterCore Properties social profiles
Digital presenceCenterCore Properties financial estimates
Financial estimateRevenue estimate
Valuation estimate
CenterCore Properties leadership team
Management profileNumber of profiles
Profiles2 records
CenterCore Properties funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
CenterCore Properties M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about CenterCore Properties
What does CenterCore Properties do?
CenterCore Properties is a real estate private equity firm that invests in niche commercial real estate sectors in emerging US markets, targeting deal sizes of $5-20 million. The firm offers two investment products: Stabilized Investments providing immediate cash yields and long-term appreciation, and Value-Add Investments creating value through repositioning, renovation, or operational enhancement over 3-5 year holding periods.
Is CenterCore Properties a public or private company?
CenterCore Properties is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was CenterCore Properties founded?
CenterCore Properties was founded in 2015. It employs 1 to 10 people.
Where is CenterCore Properties based?
CenterCore Properties is headquartered in Evanston, United States, in the North America region.
How does CenterCore Properties make money?
One revenue line is on record: real Estate Investment Management.
Who are CenterCore Properties's main competitors?
Broad incumbents on record are Phillips Edison & Company, Regency Centers Corporation, Kite Realty Group Trust and Brixmor Property Group. Emerging players are Pine Tree Commercial Realty and NewLake Capital Partners. Direct peers are Green Courte Partners, Retail Opportunity Investments Corp and Continental Realty Corporation. FRP Holdings is listed as a regional player.
Does CenterCore Properties have an API?
No public API is recorded for CenterCore Properties.
What industry is CenterCore Properties in?
CenterCore Properties's product category is Commercial Real Estate Investment. Its primary akta.pro industry code is FSANAEAG, Real Estate Funds — Core-Plus, with a secondary code of FSAAAKAA, Core Real Estate (Stabilized/Core-Plus). Its NAICS code is 5239 and its SIC code is 6532.