What Persis Corporation does

Persis Corporation is a privately held, family-controlled commercial real estate investment and management firm headquartered in Honolulu, Hawaii. The company owns and manages 39 retail commercial real estate properties spread across 11 U.S. states, leased predominantly under single-tenant triple-net (NNN) structures to investment-grade corporate occupants including CVS Health, Walgreens Boots Alliance, Walmart, 7-Eleven, Starbucks, Firestone Complete Auto Care, Fresenius Medical Care, Bloomin' Brands, Albertsons, and Servco Auto.

The firm's investment mandate targets primary-market retail assets (U.S. Census-defined MSAs with populations above one million) leased to tenants rated BBB- or better (or with verifiable equivalent credit), with scheduled rent escalations, staggered lease expirations, and average deal sizes of $5 million to $15 million. Capital is sourced through a network of more than a dozen major financial institutions (Morgan Stanley, Goldman Sachs, Deutsche Bank, Wells Fargo, Bank of America, JP Morgan, UBS, CSFB, TIAA, Ladder Capital, Bank of Hawaii, First Hawaiian Bank) and is structured to support 1031 exchange transactions, reflecting the company's Sub S tax status and low-leverage, capital-preservation posture.

Persis was founded in 1900 as the publisher of The Honolulu Advertiser, expanded into Pacific Northwest newspapers, and divested its media holdings in the early 1990s to diversify into real estate, luxury hotels (Twin Farms), and private equity (allrecipes.com). In 1999 the company narrowed its focus to commercial real estate exclusively, and under President Easton Manson since 2005 — whose career credentials include over $2 billion in transactions and approximately $1 billion in financings — it has grown into a focused, single-vertical NNN retail owner-operator with 11-50 employees.

Name

Persis Corporation

Legal name

Persis Corporation

Website

https://persis.com

Company type

Private

Founded year

1900

Operating status

Operating

Headcount range

11–50 employees

Short description

Persis Corporation is a privately held Honolulu-based commercial real estate firm that owns and manages 39 single-tenant NNN retail properties across 11 U.S. states, leased primarily to investment-grade corporate tenants.

Ownership category

akta.pro rank

Headquarters

HQ city

Honolulu

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Marketing or Sales

Revenue model

1. Commercial Real Estate Rental Income: Persis Corporation generates revenue through owning and managing retail commercial real estate properties. The company specializes in single-tenant NNN (Triple Net) leases where tenants pay property taxes, insurance, and maintenance, providing stable, predictable rental income with limited landlord responsibilities.

Go-to-market motion1 record

Marketing channels1 record

Core offering

Persis Corporation acquires, owns, and manages a portfolio of 39 retail commercial real estate properties across 11 U.S. states. The company invests in single-tenant NNN (Triple Net) retail properties leased to investment-grade national tenants such as CVS, Walgreens, Walmart, Starbucks, Firestone, Fresenius, and Bloomin' Brands in primary metropolitan markets, with typical deal sizes of $5 million to $15 million. Revenue is generated through recurring rental income under long-term NNN lease structures.

Product overview

Persis Corporation operates as a commercial real estate investment and management firm offering a unified portfolio of retail commercial real estate properties. The company provides investment in, ownership, and management of retail properties leased to national tenants under NNN (Triple Net) lease structures, including single-tenant properties such as CVS, Walgreens, Walmart, Starbucks, Firestone, Fresenius, Outback Steakhouse, Albertsons, and Servco Auto locations across primary markets in the United States.

Differentiator

Problem solved

Functional benefit

Products and services

• Retail Commercial Real Estate Portfolio Management

Named customers10 records

Segments2 records

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Scale indicators3 records

Recent moves9 records

Expansion highlights4 records

Direct peers

• STORE Capital: Formerly publicly traded net-lease REIT (taken private in 2023) that owned single-tenant retail and service properties leased to corporate tenants; operated with the same fundamental model as Persis at meaningfully larger scale.
• National Retail Properties: Publicly traded net-lease REIT that owns single-tenant retail properties leased under NNN structures to investment-grade tenants in primary markets—the closest publicly traded analogue to Persis's strategy, asset class, and tenant profile.
• Agree Realty Corporation: Net-lease REIT focused on retail properties leased to investment-grade tenants in primary markets; closely mirrors Persis's stated investment criteria including preferred location in high-traffic corridors and ground-lease/absolute NNN structures.
• Realty Income Corporation: The largest publicly traded net-lease REIT, with a portfolio of single-tenant commercial properties under NNN leases; directly comparable model (long-duration NNN, scheduled rent escalators, investment-grade tenants) and even partial tenant overlap with Persis (Walgreens, 7-Eleven, Fresenius-adjacent).
• Spirit Realty Capital: Was a publicly traded net-lease REIT with similar focus on single-tenant retail, restaurant, and convenience properties; acquired by Realty Income in 2024 but historically a direct peer in mid-cap net-lease retail.
• Getty Realty Corp. Net-lease REIT specializing in convenience stores and automotive service properties—overlapping Persis's tenant profile (7-Eleven, Firestone Complete Auto Care) and using similar long-duration NNN lease structures.
• Broadstone Net Lease: Net-lease REIT with a diversified portfolio of single-tenant commercial properties under long-term NNN leases; comparable business model, tenant underwriting discipline, and capital structure philosophy to Persis.
• Essential Properties Realty Trust: Net-lease REIT focused on service-oriented and experience-based single-tenant properties including restaurants, fitness, and automotive services—closely aligned with portions of Persis's tenant mix (Outback, Firestone, Starbucks, etc.).
• Four Corners Property Trust: Net-lease REIT focused on restaurant properties leased to investment-grade operators under NNN leases; closely comparable tenant focus (Bloomin' Brands, restaurant QSR exposure) and lease structure.

Broad incumbents

• W. P. Carey Inc. Diversified net-lease REIT with industrial, retail, and office exposure across multiple geographies; broader and larger than Persis but operates the same fundamental NNN single-tenant model with scheduled rent escalators.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/persis-corporation

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 Persis Corporation