Tessa Commercial Real Estate

What Tessa Commercial Real Estate does

Tessa Commercial Real Estate is a woman-owned commercial real estate brokerage and development firm founded in 2020 by Meredith Calhoun and headquartered in the historic Burger Phillips Building in downtown Birmingham, Alabama. The firm is positioned as the only woman-owned brokerage and development company in Alabama and holds WOSB and WBE certifications. Its core offering is tenant-led development, in which businesses are involved from day one in site selection, adaptive reuse, redevelopment, and ownership strategy, with the stated goal of moving clients from tenant to stakeholder and capturing long-term real estate value. The company also provides traditional brokerage services including tenant representation, landlord representation, and investment sales, and acts as a co-developer and equity participant in projects such as the Burger Phillips Building with Opportunity Alabama's OPAL Fund.

The team consists of five core members including the founder, two principals with CCIM and SIOR designations, a transaction manager, and an associate broker. The firm is highly selective by design, taking on a limited number of projects to maintain high-touch support from site selection through post-close asset management, and targets companies expanding to new markets, business owners seeking wealth building through real estate investment, and entrepreneurs seeking strategic partnership in development and ownership. Customers span SMBs (Tre Luna, Moxi, INTELUS Wealth Management), nonprofits (Lakeshore Foundation, Community Foundation of Greater Birmingham, Women's Foundation of Alabama, Ed Farm, REV Birmingham), and larger adaptive reuse engagements, with 22% of projects minority-owned or led, 31% woman-owned or led, and 27% of clients being nonprofits.

Tessa earns revenue through brokerage commissions on leasing and sales transactions plus development fees, equity participation, and long-term asset ownership in co-development projects. The firm has established a dense ecosystem of partners including OPAL Fund, Birmingham Parking Authority, Williams Blackstock Architects, Dynamic Civil Solutions, Table Investment Group (a Calhoun-founded vehicle for female accredited investors), River Bank & Trust, and Alabama SBDC Network, and reports over $10 million in deal volume for Q1 2026. There are no disclosed external institutional investors or parent company; ownership is founder-controlled.

Name

Tessa Commercial Real Estate

Legal name

Tessa Commercial Real Estate

Website

https://tessa-cre.com

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Ownership category

akta.pro rank

Product category

Commercial Real Estate Brokerage

NAICS

Offices of Real Estate Agents and Brokers (53121), Other Activities Related to Real Estate (531390)

SIC

Real Estate Agents & Managers (For Others) (6531)

akta.pro primary industry

Tenant Representation & Corporate Services Brokerage (BPAJABAJ)

akta.pro secondary industries

Office Brokerage (BPAJABAA), Investment Sales Brokerage (BPAJABAI), Special Purpose & Alternative Asset Brokerage (BPAJABAH)

Keywords

• Commercial real estate brokerage
• Tenant representation services
• Adaptive reuse development
• Commercial property investment
• Real estate development

Headquarters

HQ city

Birmingham

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, Others

Revenue model

1. Brokerage/Transaction Fees: Traditional commercial real estate brokerage commissions on leasing and sales transactions. The firm earns fees on property transactions including tenant representation, landlord representation, and investment sales.
2. Development and Investment: As developer and co-owner of projects like the Burger Phillips Building, Tessa generates returns through development fees, equity participation, and long-term asset ownership.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels7 records

Core offering

Tessa Commercial Real Estate is a commercial real estate brokerage and development firm specializing in tenant-led development, adaptive reuse, and strategic investment services. The firm helps business owners expand, relocate, or own their space by aligning users, investors, and underutilized real estate to create long-term value through brokerage transactions, redevelopment projects, and co-development partnerships. Services include tenant representation, landlord representation, investment sales, adaptive reuse development, and post-close asset management.

Product overview

Tessa Commercial Real Estate is a service-based commercial real estate firm offering tenant-led development, adaptive reuse, redevelopment, and strategic investment services. The company operates as a unified service offering rather than a platform-plus-modules architecture, providing end-to-end commercial real estate services including tenant representation, developer partnerships, and investment advisory for business owners seeking to own, control, or invest in real estate.

Differentiator

Problem solved

Functional benefit

Products and services

• Tessa Commercial Real Estate Services Tenant-led commercial real estate services encompassing brokerage, adaptive reuse development, strategic investment, and redevelopment services for business owners seeking to own or control their real estate. Includes tenant representation, landlord representation, investment sales, adaptive reuse development, and post-close asset management delivered through a unified high-touch service model.

Quantifiable outcome

• 22% of projects are minority-owned or led
• +3 more outcomes

Named customers8 records

Segments1 record

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Six partnerships are on record, tiered core and minor.

• Birmingham Parking Authority (BPA)coreStrategic or Co-development Partner · 19 December 2025Tessa is assisting BPA with the Morris Avenue Forward vision project for a 4.2-acre site along Morris Avenue. Tessa is working alongside Williams Blackstock Architects and Dynamic Civil Solutions to gather community input and shape future use of the parking lots bordering downtown and Southside Birmingham.
• Williams Blackstock ArchitectscoreStrategic or Co-development Partner · 1 January 2025Partnership with Williams Blackstock Architects on the 4.2-acre Morris Avenue vision project, working to shape community input and long-term potential for the site.
• Opportunity Alabama (OPAL Fund)coreStrategic or Co-development Partner · 1 May 2024Partnership with Opportunity Alabama's OPAL Fund to redevelop the historic Burger Phillips Building at 1914 3rd Ave N. OPAL serves as lead equity investor and becomes co-tenant alongside Tessa. The partnership aims to create a 'multiplier effect' leveraging both organizations' skills to accelerate investment across Birmingham's 99 neighborhoods. Project includes activation of 20-year vacant space, establishment of technical assistance hub for underrepresented groups, and creation of showcase space for national investors.
• Dynamic Civil SolutionscoreStrategic or Co-development PartnerCivil engineering partner on the Morris Avenue vision project providing technical expertise for site assessment and planning.
• Alabama SBDC NetworkminorImplementation/ SI/ Consulting PartnerSmall Business Development Center network (specifically Suzanne Darden) helped communicate company's story and financial strength to lenders for Tre Luna acquisition.
• REV BirminghamcoreStrategic or Co-development PartnerCommunity development organization and Tessa partner on multiple initiatives including the 'The Trail We Blaze' film project and Morris Avenue Forward survey project. Tessa's office hosted Sloss Tech events and Malone Unlimited capital events.

Scale indicators6 records

Recent moves6 records

Expansion highlights5 records

Broad incumbents

• CBRE Group: Global commercial real estate services firm offering tenant representation, investment sales, and project management across all major U.S. markets including Birmingham. Competes for the same corporate tenant-representation mandates Tessa targets.
• Cushman & Wakefield: Global commercial real estate services firm with tenant representation, agency leasing, and investment sales capabilities across the U.S. Comparable broad incumbent for corporate tenant mandates in the Southeast.
• Newmark Group: Global commercial real estate advisor offering tenant representation, capital markets, and investment sales services. Directly comparable in tenant-representation services Tessa specializes in.
• Colliers International: Global commercial real estate services firm offering brokerage, investment sales, and project management. Operates across the Southeast and competes for office and industrial mandates similar to Tessa's service lines.
• JLL (Jones Lang LaSalle): Global real estate services firm with full-service tenant representation, capital markets, and investment sales capabilities. Comparable as a broad incumbent competing for larger regional mandates that Tessa may bid on alongside.

Direct peers

• Corporate Realty Associates: Birmingham-based commercial real estate firm where founder Meredith Calhoun spent nearly 13 years as Vice President. Directly comparable regional peer providing brokerage and investment sales across Alabama with similar office and industrial service lines.
• Bayer Properties: Birmingham-based commercial real estate developer and investor focused on mixed-use and adaptive reuse projects (notably The Hardwick, a Tessa-anchored project). Led by former Bayer Properties President (now Tessa Principal) Libby Lassiter, making it a directly comparable regional peer.
• Graham & Company, Inc. Alabama-headquartered commercial real estate firm offering brokerage, property management, and development services. Comparable regional peer with similar Southeast focus and full-service CRE capabilities.

Others

• REV Birmingham: Community development organization partnering with Tessa on Switch district initiatives, 'The Trail We Blaze' film, and Morris Avenue Forward survey project. Adjacent ecosystem participant, not a CRE competitor, but a key pipeline and brand-building partner.
• Opportunity Alabama (OPAL Fund): Mission-aligned impact investment fund partnering with Tessa on the Burger Phillips Building redevelopment. Functions as a co-investor and strategic capital partner rather than a competitor, making it a closely adjacent ecosystem participant.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/tessa-commercial-real-estate

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 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 Tessa Commercial Real Estate