The Pence Group
The Pence Group is a family-owned commercial real estate developer founded in 1977 in Reston, Virginia, developing and managing retail power centers, hotels, office buildings, and mixed-use communities primarily across Northern Virginia. Its 6+ million SF portfolio serves national brand anchors, franchise hotel operators, and local SMB tenants through direct leasing.
- Company typePrivate
- Founded1977
- HeadquartersReston, United States
- Headcount1–10
- GTM typeB2B
- OfferingServices
What The Pence Group does
The Pence Group, Inc. is a privately held, family-owned commercial real estate development firm founded in 1977 by Ambassador Robert Frank Pence in Reston, Virginia. Operating with a 1-10 employee team, the company develops, leases, and manages retail shopping centers, hotels, office buildings, and mixed-use communities, primarily in Northern Virginia with a new development site in Sussex County, Delaware. Since founding, it has developed more than 6 million square feet of commercial real estate, including the Stafford Marketplace (an 800,000 SF regional power center anchored by Target, Lowe's, Kohl's, and Planet Fitness), the Reston Home Depot Center (documented at 100% leased), Chantilly Place Shopping Center (with IKEA opening spring 2026), Potomac Run Plaza in Sterling, and the Dulles Expo & Conference Center in Chantilly, which is scheduled to close December 21, 2025 for redevelopment. Its hotel assets include a 232-room Holiday Inn Chantilly (independently owned and managed by partner Grand Duke Hotels, LLC under an IHG franchise) and the 143-suite Staybridge Suites McLean-Tysons Corner, both of which have received multiple IHG Torchbearer and Quality Excellence awards.
The company's revenue is generated through three streams: (1) commercial real estate development via development fees, construction oversight, and property delivery; (2) property management of owned and affiliated retail, hotel, and office assets; and (3) commercial leasing to national brand anchors and local tenants under multi-year leases. Pricing is negotiated on a per-property basis with rates varying by asset type and lease term; leasing inquiries route directly to in-house leasing representatives. Tenant mix is anchored by national credit-grade retailers (Target, Lowe's, Kohl's, Walmart, IKEA) and franchise hospitality brands (IHG), supplemented by QSR and specialty retail tenants such as Starbucks, Chick-fil-A, Jollibee, Nothing Bundt Cakes, and DRIPBaR. The go-to-market is sales-led and direct: properties are leased through the firm's in-house leasing team without third-party brokerage at scale, and the company's main active growth project is The Garrison, a 57-acre P-TND-zoned mixed-use development in Stafford, VA, planned for 453 multi-family units and up to 500,000 SF of commercial space.
The firm's competitive position rests on 40+ years of brand equity tied to its founder's reputation, ownership of prime infill sites in top-wealth Northern Virginia submarkets with documented high traffic counts (145,000+ vehicles/day near Stafford Marketplace), and a stated capital track record of never defaulting on a loan, never returning a project to a lender, and never having a project enter bankruptcy. Distribution is regional (Virginia plus one Delaware site); there are no institutional investors, no disclosed funding rounds, and no public-market listing. Technology adoption is traditional for the asset class, with no AI, API, or proprietary software platforms disclosed.
The Pence Group firmographics
Firmographics- Name
- The Pence Group
- Legal name
- The Pence Group, Inc.
- Website
- https://pencegroup.com
- Company type
- Private
- Founded year
- 1977
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- The Pence Group is a family-owned commercial real estate developer founded in 1977 in Reston, Virginia, developing and managing retail power centers, hotels, office buildings, and mixed-use communities primarily across Northern Virginia. Its 6+ million SF portfolio serves national brand anchors, franchise hotel operators, and local SMB tenants through direct leasing.
- Ownership category
- akta.pro rank
The Pence Group industry classification
Industry- Product category
- Commercial Real Estate Development
- NAICS
- Lessors of Nonresidential Buildings (except Miniwarehouses) (53112), Lessors of Real Estate (5311), Rental and Leasing Services (532)
- SIC
- Lessors Of Real Property, Nec (6519)
- akta.pro primary industry
- Property Management Advisory & Leasing Administration (FSAEAJAN)
Keywords
Where The Pence Group is headquartered
LocationHeadquarters
- HQ city
- Reston
- HQ country
- United States
- HQ region
- North America
Offices6 records
Markets served
The Pence Group business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Marketing or Sales, Supply Chain
Revenue model
- Commercial Real Estate Development: Development of shopping centers, hotels, and office buildings throughout the United States. Revenue generated from development fees, construction oversight, and property delivery.
- Property Management: Management of owned and affiliated properties including retail centers, hotels, and office buildings. Ongoing revenue from property operations and tenant relationships.
- Commercial Leasing: Leasing of retail, office, and hospitality spaces to national brands and local tenants. Revenue through lease arrangements with tenants.
Go-to-market motion1 record
Distribution channels2 records
Marketing channels2 records
The Pence Group product offering
Product offeringCore offering
The Pence Group is a full-service commercial real estate development company that develops, leases, and manages retail shopping centers, hotel properties, office buildings, and mixed-use developments across the Mid-Atlantic region. The company has delivered over 6 million square feet of commercial real estate since 1977, working with national brand tenants and operating affiliated hotels under IHG franchises. Revenue is generated through development, leasing arrangements with retail and office tenants, and ongoing property management of its portfolio.
Product overview
The Pence Group is a full-service real estate development company offering a portfolio of retail shopping centers, hotel properties, office buildings, and mixed-use developments across the Mid-Atlantic region. The portfolio includes major retail power centers such as Stafford Marketplace (800,000+ SF) and Chantilly Place Shopping Center, hotel properties operating under IHG franchises (Holiday Inn and Staybridge Suites), Class A office buildings, and large-scale mixed-use developments like The Garrison. The company's core business involves development, leasing, and property management of commercial real estate projects totaling over 6 million square feet since its founding in 1977.
Differentiator
Problem solved
Functional benefit
Products and services
- Stafford Marketplace Premier retail destination in Stafford County with over 800,000 SF of retail including Target, Kohl's, Lowe's, Planet Fitness, and multiple dining tenants, located in Stafford County which ranks in the top 20 wealthiest US counties with median household income $100,000+.
- Chantilly Place Shopping Center High-visibility mixed-use retail destination along Route 28 featuring IKEA (opening 2026), Walmart, and multiple dining options including Chick-fil-A, Taco Bell, and international restaurants.
- Reston Home Depot Center Shopping center at Reston Parkway and Baron Cameron Avenue featuring multiple inline shops and pad sites with diverse retail and dining tenants, currently 100% leased.
- Potomac Run Plaza 486,569 square foot shopping center in Sterling, Virginia with anchor tenants including Target, Office Depot, Toys R Us, Michael's, and Ross.
- Holiday Inn Chantilly 232-room hotel at Dulles Expo Center with 6 floors, 12 suites, meeting rooms, outdoor pool, and on-site restaurant, independently owned and managed by Grand Duke Hotels, LLC under IHG franchise.
- Staybridge Suites McLean-Tysons Corner 143-suite hotel in McLean, Virginia near Washington, DC with proximity to Dulles Airport and major businesses including Capital One and Northrop Grumman. Hotel has received multiple IHG quality awards including Torchbearer Award, Quality Excellence Award, Staybridge Suites Spirit Award, and Newcomer of the Year Award.
- Woodstream Office Building 74,037 SF Class A four-story office building in Stafford, Virginia with fiber connection, parking ratio of 3.5 spaces per 1,000 SF, and current vacancies on second and third floors.
- The Garrison 57-acre mixed-use development in Stafford, Virginia with P-TND zoning permitting up to 500,000 SF of commercial space and 453 multi-family residential units, featuring pad sites for Starbucks, Raising Cane's, and other tenants. First phase includes three pad site locations with Starbucks, Raising Cane's, Tous Les Jours, Admire Dental Care, townhomes, and retail/dining options along the main street corridor.
- Frankford Development Site 26-acre site in Sussex County, Delaware on Route 113, available for lease (ground or build-to-suit) or sale, positioned near Delaware beaches.
Companies that use The Pence Group
Customer profileNamed customers14 records
Segments5 records
Ideal customer profiles4 records
The Pence Group technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
The Pence Group partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Grand Duke Hotels, LLCcoreIndependent hotel management company that manages the Holiday Inn-Chantilly/Dulles Expo Center property. The Holiday Inn is independently owned and operated by Grand Duke Hotels, LLC under IHG franchise.
Scale indicators8 records
Recent moves7 records
Expansion highlights5 records
The Pence Group competitors and assessment
Company assessmentRegional players
- JBG Smith: Public REIT focused on mixed-use, office, multifamily and retail in the DC metro, especially National Landing near Amazon HQ2. Comparable mixed-use and DC-area focus to Pence Group's Northern Virginia portfolio.
- Lerner Enterprises: Private, family-owned Mid-Atlantic real estate developer of retail, office, hospitality and mixed-use properties in the DC metro. Comparable as a private developer with similar product mix and regional focus.
- Peterson Companies: Private, family-owned Northern Virginia real estate developer behind major mixed-use destinations including National Landing and Fair Oaks. Directly comparable as a private, Mid-Atlantic family developer of large mixed-use projects.
Direct peers
- Saul Centers: Self-managed REIT that owns, operates and develops grocery-anchored shopping centers and mixed-use properties concentrated in the Mid-Atlantic region. Highly comparable regional footprint and product type to The Pence Group.
- SITE Centers: Public REIT focused on open-air shopping centers anchored by necessity-based retailers including Target and other credit tenants. Highly comparable anchor-led retail strategy to Pence Group's Stafford Marketplace.
- Regency Centers Corporation: Shopping center REIT that owns and operates grocery-anchored and necessity-based retail centers with national tenants in high-density, affluent markets. Comparable tenant strategy and demographic focus to Pence Group.
- Brixmor Property Group: Public REIT that owns and operates a high-quality, open-air shopping center portfolio of ~370 properties totaling ~65 million SF. Comparable scale of open-air, anchor-led retail assets to The Pence Group.
- Federal Realty Investment Trust: Public shopping center REIT focused on open-air retail and mixed-use properties in affluent coastal markets. Highly comparable to The Pence Group's power-center and mixed-use development model anchored by national credit tenants.
- Kimco Realty: Largest publicly traded shopping center REIT in North America, focused on grocery-anchored and open-air centers with national tenants. Closely comparable business model to Pence Group's Stafford Marketplace and Reston Home Depot Center assets.
Broad incumbents
- Tanger Inc. Public REIT specializing in outlet and open-air retail destinations across the U.S. Comparable open-air retail real estate operator, though Tanger focuses specifically on outlet centers while Pence Group operates traditional power and community centers.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks6 records
Key highlights7 records
Customer concentration
The Pence Group social profiles
Digital presenceThe Pence Group financial estimates
Financial estimateRevenue estimate
Valuation estimate
The Pence Group leadership team
Management profileNumber of profiles
Profiles1 record
The Pence Group funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
The Pence Group 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 The Pence Group
What does The Pence Group do?
The Pence Group is a full-service commercial real estate development company that develops, leases, and manages retail shopping centers, hotel properties, office buildings, and mixed-use developments across the Mid-Atlantic region. The company has delivered over 6 million square feet of commercial real estate since 1977, working with national brand tenants and operating affiliated hotels under IHG franchises. Revenue is generated through development, leasing arrangements with retail and office tenants, and ongoing property management of its portfolio.
Is The Pence Group a public or private company?
The Pence Group is a private company. It is classified as family owned and is currently operating.
When was The Pence Group founded?
The Pence Group was founded in 1977. It employs 1 to 10 people.
Where is The Pence Group based?
The Pence Group is headquartered in Reston, United States, in the North America region.
How does The Pence Group make money?
Three revenue lines are on record. Commercial Real Estate Development is the primary driver. The others are property Management and commercial Leasing.
Who are The Pence Group's main competitors?
Regional players on record are JBG Smith, Lerner Enterprises and Peterson Companies. Direct peers are Saul Centers, SITE Centers, Regency Centers Corporation, Brixmor Property Group, Federal Realty Investment Trust and Kimco Realty. Tanger Inc. is listed as a broad incumbent.
Does The Pence Group have an API?
No public API is recorded for The Pence Group.
What industry is The Pence Group in?
The Pence Group's product category is Commercial Real Estate Development. Its primary akta.pro industry code is FSAEAJAN, Property Management Advisory & Leasing Administration. Its NAICS code is 53112 and its SIC code is 6519.