Tri State Commercial

What Tri State Commercial does

Tri State Commercial, Inc. is a privately held, New Jersey-based commercial real estate brokerage founded in 1995 by John Montagna and Gregory Sobol. The firm specializes in retail real estate services across the New Jersey tri-state area, with two physical offices in Matawan and Midland Park. Its core offerings comprise Sales and Leasing Services (acting as tenant representative or landlord representative), Retail Leasing, Site Search and Site Selection, Market Research and Demographics Studies, and Commercial Property Marketing Strategies. The firm represents both retailers seeking new or expanded locations and landlords/developers seeking tenant placement and property disposition, with named clients spanning CVS, Walmart, Sam's Club, Stop & Shop, Chase Bank, Quick Chek, Dunkin Donuts, McDonald's, Wendy's, Staples, Family Dollar, Shop Rite, Developers Diversified Realty, Benderson Development, and others.

The business is a relationship-driven, principals-led brokerage rather than a technology platform; co-founder Montagna has personally completed over 1,100 lease and sale transactions, co-founder Sobol has 30 years of retail leasing experience, and partner Darrin S. Hiban (joined 2000) manages over 400,000 square feet of represented retail space. Notable transactions include nearly 40 acres sold to Benderson Development in Hamilton Township, NJ, and a 58+/- acre land sale to Developers Diversified Realty in Freehold, NJ, anchored by Walmart and Sam's Club with 200,000 additional square feet.

Tri State Commercial generates revenue exclusively through transaction-based commissions on sales and leasing deals, with no disclosed SaaS, subscription, or recurring fee component. Pricing is negotiated per-transaction and not publicly disclosed. The firm markets itself through its own website (property listings, team profiles, corporate profile) and through industry networks, including ICSC membership held by partner Hiban. The company has remained founder-owned with three principals, has never raised external funding, has no parent company or subsidiaries, and operates exclusively in the New Jersey tri-state market with no international footprint.

Name

Tri State Commercial

Legal name

Tri State Commercial, Inc.

Website

https://tristatecommercialre.com

Company type

Private

Founded year

1995

Operating status

Operating

Headcount range

11–50 employees

Ownership category

akta.pro rank

Headquarters

HQ city

Matawan

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Commercial Real Estate Brokerage: The company generates revenue through commission-based real estate transactions including sales and leasing of retail commercial properties. Services include tenant representation and landlord representation for retail brokerage and development.

Go-to-market motion1 record

Distribution channels1 record

Marketing channels2 records

Core offering

Tri State Commercial, Inc. is a diversified retail real estate organization providing sales and leasing brokerage, tenant and landlord representation, retail leasing, site search and site selection, market research and demographics studies, and commercial property marketing strategies. The firm serves retailers, landlords, and developers seeking to lease, sell, or develop retail properties in the New Jersey tri-state market.

Product overview

Tri State Commercial is a diversified real estate organization offering a unified suite of retail real estate brokerage services. The core offering comprises Sales and Leasing Services (acting as Tenant Rep or Landlord Rep), Commercial Real Estate Brokerage, Retail Leasing, Site Search and Site Selection, Market Research and Demographics Studies, and Commercial Property Marketing Strategies. These services are integrated to provide end-to-end support for retail development, leasing, and sales transactions, with market research and marketing strategy services supporting the brokerage functions.

Differentiator

Problem solved

Functional benefit

Products and services

• Sales and Leasing Services

Named customers19 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

One partnership is on record.

• Tri State Landlords and Tenants (Client Partners)coreOthersThe company maintains long-standing relationships with some of the Tri State's finest developers and retailers who have become partners in success. These include major retail chains and property developers that the firm represents in transactions.

Scale indicators9 records

Recent moves6 records

Expansion highlights3 records

Direct peers

• Marcus & Millichap: Public CRE brokerage firm specializing in retail and net-lease investment sales. Comparable as a retail-focused brokerage model, though significantly larger and nationally scaled; the firm competes for many of the same retail client relationships.
• Mid-America Real Estate: Retail-specialized commercial real estate firm providing tenant representation, landlord representation, and investment sales. Direct comparable in retail-only focus and relationship-driven brokerage model.
• The Shopping Center Group: Retail-only commercial real estate brokerage with regional offices serving tenant and landlord representation. Closely comparable in service mix, retail specialization, and mid-market client profile.
• Lee & Associates: Mid-market commercial real estate brokerage with a national office network including NJ coverage. Comparable as a relationship-driven retail brokerage serving similar tenant and landlord clients.
• NAI Global: Global CRE services network with strong NJ retail brokerage presence through local NAI affiliates. Comparable full-service CRE brokerage model with similar retail tenant and landlord client base.

Regional players

• R.J. Brunelli & Co. Long-established New Jersey retail brokerage firm specializing in tenant representation, landlord representation, and shopping center sales/leasing. Direct geographic overlap and nearly identical service model in the same NJ submarkets.
• Hartz Group: NJ-based commercial real estate firm with retail and multifamily focus. Highly comparable in geographic footprint and mid-market retail brokerage focus, competing for the same NJ tenant and landlord relationships.

Broad incumbents

• Newmark Group: Large public CRE services firm offering retail brokerage alongside office, industrial, and capital markets. Represents a scaled competitor for the same retail mandates; many of Tri State's clients (CVS, Walmart) operate at the enterprise level requiring both boutique and platform relationships.
• Cushman & Wakefield: Global CRE services firm with comprehensive retail brokerage platform. Competes for the same enterprise retail client mandates and landlord representation assignments across the Northeast US.
• CBRE Group: Global CRE services giant with substantial retail brokerage practice. Represents the institutional incumbent against which Tri State competes for larger retail client mandates and landlord portfolios.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

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 Tri State Commercial