CSG Partners

What CSG Partners does

CSG Partners, LLC is a privately held real estate development and investment firm founded in 2006 and headquartered in Baltimore, Maryland. The company specializes in the acquisition, redevelopment, leasing, property management, and construction management of industrial, flex, and office properties concentrated along the I-95 corridor from suburban Philadelphia and Southern New Jersey through the Baltimore-Washington corridor into Northern, Central, and Eastern Virginia. Across CSG and its predecessor, Creaney & Smith Group, the firm has developed and managed more than 8 million square feet of properties with an aggregate value of approximately $600 million. Operating geographies are explicitly regional (Mid-Atlantic), with no claim to a global footprint.

The platform is vertically integrated and organized around two entities: CSG Partners, which handles acquisition, redevelopment, and disposition transactions, and a wholly-owned subsidiary, Property Management Associates (PMA), which provides full-service asset and property management for approximately 1,000,000 square feet of CSG-owned assets plus select third-party clients. PMA also operates a construction management business with capacity to self-perform interior and exterior construction and ground-up build-to-suit assignments. The firm is co-owned by founding principals Alan Grabush (sourcing and dispositions) and Matthew W. Steinmeier (financing, legal, financial reporting), supported by a small in-house property management, accounting, and building engineering team; external brokers such as Colliers International, Cushman & Wakefield, and Cassidy Turley are engaged on specific leasing, acquisition, and disposition mandates.

Revenue is generated through a mix of transaction-based and recurring streams: (1) gains and fees from the acquisition, redevelopment, and disposition of undervalued or underperforming properties (e.g., the September 2025 sale of Cronridge Corporate Center to Fernau LeBlanc for $18,000,000 and the January 2025 acquisition of 2810 Lord Baltimore Drive), (2) recurring property management fees from PMA on owned and third-party assets, (3) leasing commissions on tenant placements, and (4) construction management fees for tenant improvements, building improvements, and build-to-suit assignments. No AI/ML capabilities are evidenced; CSG's competitive basis is physical real estate, geographic concentration, and the deal track record of its principals rather than technology.

Name

CSG Partners

Legal name

CSG Partners, LLC

Website

https://csgpartnersllc.com

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

CSG Partners, LLC is a privately held Baltimore-based real estate development and investment firm, founded in 2006, that acquires, redevelops, leases, and manages industrial, flex, and office properties along the I-95 corridor for tenants and select third-party clients.

Ownership category

akta.pro rank

Headquarters

HQ city

Baltimore

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

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

Revenue model

1. Property Acquisition and Disposition: CSG Partners generates revenue through the acquisition and subsequent sale of industrial, flex, and office properties. The firm purchases undervalued or underperforming properties, redevelops them, and sells them for profit. Recent example: sale of Cronridge Corporate Center to Fernau LeBlanc for $18,000,000.
2. Property Management Fees: Property Management Associates (PMA) provides property management services for CSG's portfolio and select third-party clients, generating recurring management fee revenue.
3. Leasing Commissions: The firm earns leasing commissions through tenant placements in their managed properties.
4. Construction Management: PMA provides construction management and administration services, including overseeing general contractors and subcontractors, with capacity to self-perform interior and exterior construction and ground-up build-to-suit assignments.

Go-to-market motion1 record

Distribution channels4 records

Marketing channels4 records

Core offering

CSG Partners is a vertically integrated commercial real estate development and investment firm that acquires, redevelops, leases, manages, and sells industrial, flex, and office properties along the I-95 corridor from suburban Philadelphia to Northern Virginia. Through its subsidiary Property Management Associates (PMA), the firm provides full-service property management and construction management for approximately 1 million square feet of properties in its portfolio and for select third-party clients.

Product overview

CSG Partners operates as a vertically integrated real estate development and investment platform with two core offerings: (1) CSG Partners, the core real estate acquisition and redevelopment business focused on industrial, flex, and office properties; and (2) Property Management Associates (PMA), the full-service property management sub-brand handling asset management, day-to-day operations, and construction management for approximately 1 million square feet of properties. The platform also includes a web-based maintenance request system for tenant services. CSG Partners and its predecessor have developed and managed more than 8 million square feet of properties with aggregate value of approximately $600MM.

Differentiator

Problem solved

Functional benefit

Brands

• Property Management Associates (PMA): Full-service property management platform providing comprehensive asset management and day-to-day property oversight for CSG's portfolio and select third-party clients.

Products and services

• Commercial Real Estate Acquisition and Redevelopment CSG Partners sources and acquires industrial, flex, and office properties along the I-95 corridor (suburban Philadelphia to Northern Virginia), redevelops them, and either holds them in the portfolio or sells them. Acquisitions are sourced directly by co-owner Alan Grabush; recent examples include the 2015 acquisition of a four-building office/flex portfolio from First Potomac Realty Trust for $13,000,000 and the January 2025 acquisition of 2810 Lord Baltimore Drive (226,000 square feet) in Windsor Mill, Maryland.
• Property Management Services (Property Management Associates / PMA) Full-service property management provided through Property Management Associates (PMA), a wholly-owned subsidiary, covering approximately 1,000,000 square feet of industrial, flex, and office properties. Services include comprehensive asset management and day-to-day property oversight for CSG's portfolio and select third-party clients.
• Construction Management Services Comprehensive construction management and administration for tenant improvements and building improvements, including oversight of general contractors and subcontractors, with the capacity to self-perform interior and exterior construction and to deliver ground-up build-to-suit assignments. Provided in connection with PMA's property management platform.
• Commercial Property Leasing Leasing services for industrial, flex, and office properties in CSG's portfolio, including in-house leasing efforts and engagement of external brokers such as Colliers International for specific properties. The firm earns leasing commissions through tenant placements in its managed properties.

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered notable and minor.

• Fernau LeBlancnotableChannel Partner/ Reseller/ Distributor · 1 September 2025Fernau LeBlanc acquired Cronridge Corporate Center (11460 and 11500 Cronridge Drive, Owings Mills, Maryland) from CSG Partners for $18,000,000 in September 2025. This represents a property disposition relationship where CSG Partners sold to this commercial real estate investor/operator.
• Colliers InternationalminorChannel Partner/ Reseller/ Distributor · 1 March 2015CSG Partners retained Colliers International Baltimore to market and lease Cronridge Business Center and Cronhill Corporate Center properties. This is a leasing broker relationship for tenant placement.
• Cassidy TurleyminorChannel Partner/ Reseller/ Distributor · 1 March 2015Jonathan Carpenter, Nicole Keelty and Graham Savage of Cassidy Turley represented First Potomac Realty Trust (the seller) in the 180,000 square foot office/flex portfolio acquisition. CSG Partners was self-represented in this transaction.
• Cushman & WakefieldminorChannel Partner/ Reseller/ DistributorJonathan Carpenter of Cushman & Wakefield's Northeast Advisory Group represented the buyer (Fernau LeBlanc) in the Cronridge Corporate Center sale. CSG Partners worked with this broker indirectly through the transaction.

Scale indicators6 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Cushman & Wakefield: Global commercial real estate services firm that acted as buyer's broker (Jonathan Carpenter, Northeast Advisory Group) on CSG's $18M Cronridge disposition — a broad incumbent that competes in leasing, capital markets, and property management across the same I-95 corridor.
• Newmark Group: Global commercial real estate advisory and services firm with significant Mid-Atlantic presence (incorporating legacy KLNB) — competing broadly with CSG in leasing, investment sales, and property management across the Baltimore-Washington corridor.
• Prologis: Global industrial REIT and the largest owner/operator of logistics real estate — relevant incumbent for CSG's industrial and flex holdings, particularly given its absorption of Liberty Property Trust which held Mid-Atlantic industrial assets.
• Colliers International: Global CRE services firm engaged by CSG Partners as external leasing broker for Cronridge Business Center and Cronhill Corporate Center — overlapping in leasing and asset services across the same Mid-Atlantic geography.

Direct peers

• Greenberg Gibbons Commercial: Baltimore- and Mid-Atlantic-focused commercial real estate developer and investor with a portfolio spanning retail, office, flex, and industrial — directly comparable geography and asset-class mix to CSG Partners.
• JBG SMITH Properties: Public REIT focused on mixed-use, office, and multifamily assets in the Washington, D.C. metropolitan area — overlapping CSG Partners' Baltimore-Washington corridor office strategy at a larger, publicly traded scale.
• St. John Properties: Maryland-based commercial real estate developer and investor focused on flex, office, and industrial properties across the Mid-Atlantic — directly overlapping CSG Partners' asset class, customer base (small-bay flex tenants), and Baltimore/Washington corridor geography.
• Corporate Office Properties Trust (COPT): Public REIT specializing in office properties leased primarily to U.S. government agencies and defense contractors in the Mid-Atlantic — directly comparable to CSG Partners' office focus in the Baltimore-Washington corridor and a counterparty for senior management hires (e.g., Jessica Harris previously oversaw COPT-managed assets).
• First Potomac Realty Trust (historical): Former publicly traded REIT owning office and flex properties in the Mid-Atlantic; CSG Partners acquired a four-building 180,000 sq ft office/flex portfolio from First Potomac in 2015, evidencing direct transactional overlap in the same sub-markets.

Regional players

• Mackenzie Commercial Real Estate Services: Mid-Atlantic-focused commercial real estate firm offering brokerage, property management, and project management services in the Baltimore-Washington corridor — comparable asset-class and geography, with overlapping third-party management competition for PMA.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/creaney-and-smith-group

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 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 CSG Partners