Preferred
Preferred Realty & Development is a founder-owned, full-service commercial real estate firm founded in 1980 that provides build-to-suit development, investment, and property management services to corporate clients across the United States.
- Company typePrivate
- Founded1980
- HeadquartersCoral Springs, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Preferred does
Preferred Realty & Development (operating as PREFERRED) is a full-service commercial real estate firm engaged in the development, investment, and management of diversified commercial properties. Founded in 1980 by Thomas R. Speno and headquartered in Delray Beach, Florida, the firm provides build-to-suit development, speculative development, property acquisition and disposition, and hands-on property and asset management services for corporate clients across the United States. Notable projects include FedEx distribution centers in Madison, WI (30,000 SF) and Salt Lake City, UT (70,000 SF), a DHL airport distribution facility (69,000 SF), a Caliber Collision build-to-suit in Pompano Beach, FL (20,000 SF), and a Publix Super Markets location in Boca Raton, FL (34,000 SF), as well as the Preferred Exchange Tower (203,000 SF, acquired for $15.75M and disposed for $33.5M).
The firm operates a lean business model and does not rely on any proprietary technology platform; instead, it delivers value through a single point of contact for the entire build-to-suit lifecycle, spanning planning, design, feasibility, construction, leasing, and ongoing management. Revenue is generated through three streams: development services (professional services fees from orchestrating construction), investment holdings (property appreciation, rental income, and disposition of investment assets), and managed services (property management fees). Go-to-market is direct enterprise sales targeting corporate clients who want to preserve capital, access modern facilities, and outsource real estate administration.
The company is privately held and wholly controlled by the Speno family. Leadership includes founder and President Thomas R. Speno (40+ years of CRE experience), Vice President Richard D. Speno (joined 2004), and Director Tom Speno Jr., MBA (joined 2014, prior experience at Banyan Street Capital, CNL, CBRE, and Publix Super Markets Corporate Real Estate). No external institutional investors, funding rounds, parent entities, or technology partnerships are disclosed in available materials.
Preferred firmographics
Firmographics- Name
- Preferred
- Legal name
- Preferred Realty, Inc.
- Website
- https://prd-realty.com
- Company type
- Private
- Founded year
- 1980
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Preferred Realty & Development is a founder-owned, full-service commercial real estate firm founded in 1980 that provides build-to-suit development, investment, and property management services to corporate clients across the United States.
- Ownership category
- akta.pro rank
Preferred industry classification
Industry- Product category
- Commercial Real Estate Services
- NAICS
- Lessors of Other Real Estate Property (53119), Other Activities Related to Real Estate (531390)
- SIC
- Real Estate Dealers (For Their Own Account) (6532), Investors, Nec (6799)
- akta.pro primary industry
- Real Estate Development Asset Management (Project/Construction-to-Stabilization) (BPAJAMAL)
- akta.pro secondary industries
- Real Estate Development & Feasibility Advisory (Highest-and-Best-Use, Entitlements Support) (BPAJANAC), New Development & Project Marketing (Pre-Construction Sales) (FSAEAJAE)
Keywords
Where Preferred is headquartered
LocationHeadquarters
- HQ city
- Coral Springs
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Preferred business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Supply Chain, Marketing or Sales, Technology or R&D
Revenue model
- Development Services: Value-add development services including build-to-suit and speculative facilities. Development fees generated from orchestrating the construction process from design through leasing and marketing.
- Investment Holdings: Investment in commercial real estate properties. Revenue generated through property appreciation, rental income, and disposition of investment assets.
- Property Management: Hands-on property management services with proactive asset management approach. Revenue generated through management fees.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels1 record
Preferred product offering
Product offeringCore offering
PREFERRED is a full-service commercial real estate firm engaged in the Development, Investment, and Management of diversified commercial properties. Its core activity is orchestrating build-to-suit and speculative development projects from site identification, design, and feasibility through construction, leasing, and marketing, alongside commercial property investment transactions and ongoing hands-on property and asset management for corporate clients.
Product overview
PREFERRED is a full-service commercial real estate firm offering Development, Investment, and Management services. The company operates a unified service platform focused on value-add opportunities, providing Build-To-Suit solutions alongside speculative development, property acquisition and disposition, and ongoing asset/property management. The core offering combines development orchestration, investment execution, and hands-on property management into a streamlined service model.
Differentiator
Problem solved
Functional benefit
Products and services
- Development Services End-to-end commercial real estate development services for corporate clients, encompassing design, site identification, construction, leasing, and marketing for both build-to-suit and speculative facilities.
- Investment Services Commercial real estate investment services that identify opportunities, execute swift transactions with careful due diligence, and manage investment holdings across market cycles for clients or the firm's own portfolio.
- Management Services Property and asset management services with a hands-on operating model and proactive strategies to address both property conditions and client needs.
- Build-To-Suit Turn-key build-to-suit real estate solution providing one point of contact for the entire scope of corporate real estate build-to-suit projects from planning, design, feasibility, and construction through completion and occupancy, designed for tenants who want the operating benefits of modern facilities without the capital outlay and administrative burden of ownership.
Quantifiable outcome
- 100% of rent payments on leased property are tax deductible
- +1 more outcomes
Companies that use Preferred
Customer profileNamed customers4 records
Segments1 record
Ideal customer profiles1 record
Preferred technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Preferred partnerships and signals
Strategic signalScale indicators4 records
Preferred competitors and assessment
Company assessmentBroad incumbents
- Cushman & Wakefield: Global commercial real estate services firm providing investment, leasing, valuation, and property management — directly overlaps Preferred's enterprise build-to-suit and asset management offerings as a broader platform competitor.
- Newmark Group: Commercial real estate advisory and services firm offering capital markets, investment sales, leasing, and property management — overlapping with Preferred's investment and management capabilities at national scale.
- Colliers International: Global professional services and investment management company in commercial real estate, offering similar investment sales, development advisory, and management services to corporate clients.
- JLL (Jones Lang LaSalle): Global real estate services and investment management firm with capabilities spanning development, investment, and property management — a much larger incumbent serving enterprise clients comparable to Preferred's FedEx/DHL/Caliber roster.
- CBRE Group: World's largest commercial real estate services firm, offering investment management, development, and advisory across all asset classes. Overlaps Preferred's full-service CRE offering but at institutional scale with global reach.
Direct peers
- Trammell Crow Company: One of the largest commercial real estate development and investment firms in the US, offering an integrated development + investment + management platform closely aligned with Preferred's full-service model, though at vastly greater scale.
- Stiles Corporation: South Florida-based commercial real estate firm providing development, investment, brokerage, and property management services — directly comparable to Preferred in geography and integrated service offering.
- Marcus & Millichap: Specializes in commercial real estate investment sales, financing, and advisory across asset classes — comparable to Preferred's investment and transaction execution capabilities for middle-market commercial properties.
- Konover Commercial Corporation: Family-controlled commercial real estate investment and development firm similar in scale and structure to Preferred, with comparable focus on retail, office, and mixed-use investment properties.
Regional players
- Aztec Group: South Florida-based commercial real estate investment advisory firm providing capital markets, investment sales, and debt placement — a regional peer to Preferred's South Florida-anchored CRE investment platform.
Market position
Strengths4 records
Weaknesses4 records
Key risks5 records
Key highlights5 records
Customer concentration
Preferred financial estimates
Financial estimateRevenue estimate
Valuation estimate
Preferred leadership team
Management profileNumber of profiles
Profiles3 records
Preferred funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Preferred 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 Preferred
What does Preferred do?
PREFERRED is a full-service commercial real estate firm engaged in the Development, Investment, and Management of diversified commercial properties. Its core activity is orchestrating build-to-suit and speculative development projects from site identification, design, and feasibility through construction, leasing, and marketing, alongside commercial property investment transactions and ongoing hands-on property and asset management for corporate clients.
Is Preferred a public or private company?
Preferred is a private company. It is classified as family owned and is currently operating.
When was Preferred founded?
Preferred was founded in 1980. It employs 11 to 50 people.
Where is Preferred based?
Preferred is headquartered in Coral Springs, United States, in the North America region.
How does Preferred make money?
Three revenue lines are on record. Development Services are the primary driver. The others are investment Holdings and property Management.
Who are Preferred's main competitors?
Broad incumbents on record are Cushman & Wakefield, Newmark Group, Colliers International, JLL (Jones Lang LaSalle) and CBRE Group. Direct peers are Trammell Crow Company, Stiles Corporation, Marcus & Millichap and Konover Commercial Corporation. Aztec Group is listed as a regional player.
Does Preferred have an API?
No public API is recorded for Preferred.
What industry is Preferred in?
Preferred's product category is Commercial Real Estate Services. Its primary akta.pro industry code is BPAJAMAL, Real Estate Development Asset Management (Project/Construction-to-Stabilization), with a secondary code of BPAJANAC, Real Estate Development & Feasibility Advisory (Highest-and-Best-Use, Entitlements Support). Its NAICS code is 53119 and its SIC code is 6532.