Anchor Properties

What Anchor Properties does

Anchor Properties is a privately held commercial real estate development company founded in 1987 by Steve Hemberger and Doug Hynden in Cincinnati, Ohio. The company specializes in build-to-suit retail development for national tenant-retailers, delivering regional shopping centers and single-tenant retail properties. It maintains a portfolio of 150+ retail developments totaling more than 2.5 million square feet and over $500 million in cumulative development cost, with portfolio-wide occupancy exceeding 99%. Anchor's named tenant relationships include more than 100 stores developed for Walgreens, plus Wal-Mart, Meijer, Kohl's, Lowe's, Menard's, Costco, Kroger, Chase Bank, Bank of America, and major restaurant brands such as Olive Garden, LongHorn Steakhouse, McDonald's, TGI Fridays, and Chick-fil-A.

The company operates through two offices: a home office in Covington, Kentucky and a regional subsidiary, Anchor Properties of the Great Lakes, Inc., in Grand Rapids, Michigan (opened 2007). Its go-to-market is direct enterprise relationship selling into retailer real estate and development teams; projects span site identification, acquisition due diligence, municipal approvals, engineering and architectural planning, construction management, and delivery. Revenue is generated project-by-project under build-to-suit arrangements, with pricing not publicly disclosed. The company does not operate any disclosed technology platform, software product, API, or AI system, and relies on a corporate website plus direct industry relationships as its primary commercial channels. Ownership remains closely held between the founding principals and senior executives, with no evidence of institutional or private equity backing.

Name

Anchor Properties

Legal name

Anchor Properties, Inc.

Website

https://anchor-prop.com

Company type

Private

Founded year

1987

Operating status

Operating

Headcount range

11–50 employees

Short description

Anchor Properties is a privately held Midwest commercial real estate developer founded in 1987 that builds regional shopping centers and single-tenant retail properties for national retailers such as Walgreens, Walmart, Lowe's, and Costco.

Ownership category

akta.pro rank

Product category

Commercial Real Estate Development

NAICS

Offices of Real Estate Agents and Brokers (53121), Offices of Real Estate Agents and Brokers (5312)

SIC

Real Estate (6500), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Real Estate Market Research & Economic Advisory (Demand/Supply, Location Analytics) (BPAJANAD)

Keywords

• Commercial real estate development
• Build-to-suit retail
• Shopping center development
• Single-tenant retail properties
• Retail site development

Headquarters

HQ city

Covington

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Commercial Real Estate Development: Anchor Properties generates revenue through commercial real estate development services, including site acquisition, development planning, construction management, and property delivery for retail tenants. The company specializes in build-to-suit retail development where properties are constructed to meet specific tenant requirements.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

Anchor Properties is a commercial real estate developer specializing in build-to-suit retail development for major national retailers. The company provides end-to-end development services including site acquisition, development planning, municipal approvals, construction management, and property delivery for regional shopping centers and single-tenant retail properties throughout the Midwest.

Product overview

Anchor Properties is a commercial real estate development company that operates as a single unified offering focused on retail property development. The company develops regional shopping centers and quality single-tenant retail properties throughout the Midwest. The portfolio includes specific named developments such as Florence Heights (65 acres, Cincinnati MSA), Richwood Commons (51 acres, Cincinnati MSA), Evendale Commons (80 acres, mixed-use, Cincinnati MSA), Erskine Commons (55 acres, South Bend, IN), and Veterans Parkway (35 acres, Louisville MSA). The company also operates a regional office in Grand Rapids, Michigan called Anchor Properties of the Great Lakes. These developments feature major national retail tenants including Costco, Menards, Lowe's, Walgreens, Walmart, Meijer, Kohl's, and restaurant chains such as Olive Garden, LongHorn Steakhouse, and Chick-fil-A.

Differentiator

Problem solved

Functional benefit

Products and services

• Florence Heights A 65-acre retail development site located on Mall Road adjacent to the Florence Mall in Boone County, Kentucky (Cincinnati, Ohio MSA), featuring Costco Wholesale Club, Menards Home Improvement, Dave & Buster's, Chick-fil-A, and Outback Steakhouse as anchor tenants.
• Richwood Commons A 51-acre retail development site located at the interchange of Richwood Road and I-75/I-71 in Walton, Kentucky (Boone County, Cincinnati, Ohio MSA).
• Evendale Commons An 80-acre mixed-use development located in the Village of Evendale (Cincinnati, Ohio MSA) at the intersection of Reading Road and Glendale-Milford Road.
• Erskine Commons A 55-acre retail development located at the interchange of Michigan Street and the US 31/US 20 By-Pass in South Bend, Indiana.
• Veterans Parkway A 35-acre retail development along the new Veterans Parkway interchange at I-65 in Clarksville, Indiana (Louisville, KY MSA), anchored by Lowe's Home Improvement.
• Anchor Properties of the Great Lakes Regional office offering commercial retail development services for clients throughout the upper Midwest, including site acquisition and development for upper Midwest retailers.

Quantifiable outcome

• Portfolio-wide occupancy in excess of 99%

Named customers30 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

Scale indicators5 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• CASTO: Ohio-based full-service real estate company with a long-standing retail and mixed-use development practice across the Midwest. Comparable to Anchor in tenant-driven build-to-suit projects and regional operating geography.
• Trademark Property Company: Retail-led developer of mixed-use and lifestyle centers across the U.S. Comparable to Anchor in build-to-suit retail expertise and managing complex, multi-tenant ground-up retail developments for national tenants.
• Cullinan Properties: Midwest-focused commercial real estate developer with extensive retail, mixed-use, and build-to-suit experience. Highly comparable to Anchor Properties in regional footprint (especially Greater Cincinnati/Illinois), tenant mix, and build-to-suit development model.

Regional players

• New England Development: Regional commercial real estate developer with a long-running open-air retail center practice. Comparable build-to-suit development model for national retail tenants, though primarily operating in a different geography.

Broad incumbents

• Brixmor Property Group: Large public retail REIT with deep national retail relationships and an active redevelopment/build-to-suit capability. Comparable in serving many of the same national retail tenants (Walmart, Kroger, etc.) as Anchor Properties.
• SITE Centers: Public retail REIT with a Midwest portfolio and active relationships with national retail chains. Comparable in serving and developing open-air retail centers across the same geographies Anchor operates in.
• Kimco Realty: One of the largest publicly traded retail REITs, with deep national tenant relationships and significant Midwest exposure. Comparable in development partnerships and scale of retail tenant coverage to Anchor's roster.
• Federal Realty Investment Trust: Established public retail REIT with deep relationships with national retailers and an active development/redevelopment pipeline. Comparable to Anchor in serving national chains and managing grocery-anchored retail real estate.
• Phillips Edison & Company: Public retail REIT focused on grocery-anchored shopping centers with an in-house development and redevelopment platform. Broader incumbent comparable to Anchor's grocery-anchored retail development focus (e.g., Kroger, Meijer).

Emerging players

• Hillwood: Privately held Ross Perot-linked real estate developer with significant retail, industrial, and mixed-use activity across the U.S. Overlaps with Anchor in commercial development for national tenants and project scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/anchor-properties-inc.

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 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 Anchor Properties