What SDA does

SDA Inc. is a family-owned, fully integrated real estate development firm founded in 1979 by Stephen Biagiotti and headquartered in Greenwood Village, Colorado. The company specializes in U.S. federal government build-to-suit leaseback projects — developing, designing, constructing, and then owning and managing office buildings, medical clinics, and secure government facilities under 15-20 year lease arrangements with agencies such as the Department of Justice, Veterans Affairs, Social Security Administration, FBI, DEA, and GSA. Across more than 40 years, SDA has delivered 65+ projects representing over $500M in cumulative development value and 1.5 million square feet of secure government space.

SDA's core platform combines four in-house service lines — Real Estate Development, Architecture, Construction & Contracting, and Property Management (operated through its VRG Management division, which oversees 20+ assets valued at $500M+) — under a single team, explicitly designed to eliminate the multi-vendor handoffs typical in federal procurement. The business model derives revenue from three streams: (1) long-duration rental income under owned build-to-suit leases, (2) property management fees on the managed portfolio, and (3) development fees tied to land acquisition, financing, and delivery. Go-to-market is direct enterprise field sales into federal agencies via competitive and sole-source procurement, with construction operations broadly licensed across the Western U.S. and project locations spanning Colorado, Nevada, Montana, Wyoming, California, Arizona, Washington, South Carolina, and others. The firm maintains a mentorship relationship with Veteran-Owned and Service-Disabled Veteran-Owned Small Businesses, aligning with federal small-business contracting priorities.

Name

SDA

Legal name

SDA Inc.

Website

https://sdavrg.com

Company type

Private

Founded year

1979

Operating status

Operating

Headcount range

11–50 employees

Short description

SDA Inc. is a family-owned, fully integrated real estate development firm founded in 1979 that develops, designs, builds, owns, and manages U.S. federal government build-to-suit office and medical facilities under long-term 15-20 year leases.

Ownership category

akta.pro rank

Product category

Government Real Estate Development

NAICS

Nonresidential Property Managers (531312), Rental and Leasing Services (532)

SIC

Operators Of Nonresidential Buildings (6512), Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Design-Build / EPC General Contracting (IMAFAAAD)

akta.pro secondary industry

Property Management Advisory & Leasing Administration (FSAEAJAN)

Keywords

• Government real estate development
• Build-to-suit construction
• Commercial property management
• Federal facility leasing
• Design-build construction

Headquarters

HQ city

Greenwood Village

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Supply Chain, Marketing or Sales, Technology or R&D

Revenue model

1. Government Build-to-Suit Leaseback: SDA develops, designs, and constructs government office buildings and medical facilities under long-term lease arrangements (typically 15-20 year leases). The company retains ownership and manages properties throughout the lease term, generating steady rental income.
2. Property Management Services: Through VRG Management, SDA provides ongoing property management for government and commercial assets. They manage 20+ actively managed assets with $500M+ in managed value.
3. Real Estate Development Fees: SDA generates revenue from development fees associated with land acquisition, financing structuring, and project delivery for government build-to-suit properties.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels1 record

Core offering

SDA develops, designs, constructs, and manages U.S. Government build-to-suit medical and office properties under long-term (15-20 year) lease arrangements. The firm operates as a fully integrated real estate development platform covering land acquisition, financing structuring, architectural design, construction delivery, and ongoing property management through its in-house VRG Management division, serving federal tenants including the VA, GSA, DOJ, FBI, and SSA.

Product overview

SDA is a fully integrated real estate development firm operating as a single unified platform combining four core services: Real Estate Development, Architecture Services, Construction & Contracting, and Property Management. Founded in 1979 and headquartered in Denver, CO, the company specializes in U.S. Government build-to-suit medical and office properties, delivering projects valued over $500 million across 65+ successful projects. The integrated model eliminates handoffs by keeping development, design, construction delivery, and long-term property management under one roof, with the in-house VRG Management division handling ongoing property oversight.

Differentiator

Problem solved

Functional benefit

Products and services

• Real Estate Development End-to-end real estate development services including land acquisition, financing structuring, and project delivery for government build-to-suit office buildings and medical facilities. Founded in 1979, with over $500 million in projects developed and 65+ projects delivered nationwide.
• Architectural Design Integrated architectural design for government, medical, and commercial projects, balancing aesthetics, efficiency, and adaptability with security-focused expertise for federal and institutional clients. Creates build-to-suit leaseback office buildings that are functional and timeless.
• Construction & Contracting Full-service construction and contracting for federal office buildings, medical facilities, and secure government installations, managing bidding, scheduling, subcontractor coordination, and on-site compliance across the Western U.S. Broadly licensed in the Western U.S.
• Property Management Long-term property management for government, commercial, and residential assets through the in-house VRG Management division, covering routine and emergency maintenance, capital improvements, and tenant coordination with 20+ actively managed assets and $500M+ in managed value.

Quantifiable outcome

• 65+ projects delivered successfully
• +2 more outcomes

Named customers13 records

Segments3 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators7 records

Recent moves5 records

Expansion highlights4 records

Direct peers

• Gilbane Building Company: Family-owned (like SDA) construction and real estate development firm with significant federal, healthcare and institutional work. Comparable in combining development, construction and facility management for public-sector clients.
• Clark Construction Group: Major U.S. general contractor with a substantial federal buildings portfolio (courthouses, federal offices, secure facilities). Directly comparable to SDA as a design-build contractor serving federal agencies with integrated development, construction and program management.
• Walsh Group: Family-owned national contractor with extensive federal building experience. Directly comparable to SDA in serving government clients through integrated construction delivery and long-tenured owner relationships.
• Mortenson Construction: Top U.S. general contractor with strong federal, healthcare and renewable infrastructure practice. Comparable to SDA in delivering complex, mission-critical public-sector facilities on long-term owner relationships.
• The Opus Group: Design-build real estate development firm delivering build-to-suit office, healthcare and government facilities. Closely mirrors SDA's integrated development, design, construction and ownership model for corporate and public-sector clients.
• Hensel Phelps: Employee-owned design-build general contractor with deep federal government, healthcare and aviation portfolios. Highly comparable to SDA's integrated federal build-to-suit delivery model for VA, GSA and similar agencies.

Broad incumbents

• Lincoln Property Company: Diversified real estate developer, owner and third-party manager of office, industrial and multifamily assets. Comparable to SDA in integrated development-plus-property-management delivery, but primarily commercial rather than federal-government focused.
• AECOM: Global design, engineering and construction services firm with a large federal services practice supporting GSA, DoD and civilian agencies. Overlaps with SDA in federal facility planning, design and program management but at a vastly larger scale.
• Trammell Crow Company: Major U.S. commercial real estate developer that develops and owns office, healthcare and industrial assets. Comparable to SDA in build-to-suit development and ownership but with a broader commercial (vs. government-only) focus.
• Balfour Beatty: Large international infrastructure group with significant U.S. federal and commercial buildings operations. Competes with SDA for federal build-to-suit and design-build work but operates at substantially greater scale and broader portfolio.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/sdavrginc
• Facebookfacebook.com/profile.php

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 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 SDA