Value-Add Retail Fund · National Net-Lease Developer · Since 1986

Building growth,
together.

United Growth is a vertically integrated, value-add real estate fund and national single-tenant net-lease developer — acquiring, repositioning, and developing necessity retail across top-performing U.S. markets.

0Founded
0Investments since 2010
0U.S. metros
0States
0Transaction volume

Who we are

A vertically integrated retail investment platform.

Founded in 1986, United Growth is a cycle-tested, value-add retail real estate platform with in-house leasing, development, and asset-management teams. We are both a value-add fund manager and a national single-tenant net-lease developer.

We acquire and reposition necessity-retail centers in top-performing U.S. markets, and develop pre-leased, net-leased properties for high-credit national tenants — sourcing more than half of our deals off-market through deep industry relationships. The result: 78 investments across 47 metros and 22 states, and a durable platform built to create value at every stage.

See how we create value →
30+ years building growth together

What we do

Two engines. One strategy.

United Growth pairs a value-add investment fund with a national net-lease development platform — two complementary businesses that source, create, and compound real estate value.

01

Value-Add Acquisitions

We acquire underperforming necessity-retail centers — often off-market and below replacement cost — and create value through hands-on leasing, repositioning, and disciplined asset management.

  • Off-market sourcing from distressed & undercapitalized sellers
  • Lease-up, re-tenanting & credit-tenant upgrades
  • Parcelization of single-tenant NNN outparcels
  • NOI growth through active in-house management
02

Pre-Let, Purpose-Built Development

We develop ground-up, single-tenant net-lease properties for high-credit national tenants — pre-leased before we close, then delivered to core for institutional and 1031 buyers.

  • Develop-to-core for creditworthy national tenants
  • Leases, permits & financing in place before closing
  • Relationships with Target, Starbucks & leading retailers
  • 35+ years of in-house development experience

Capabilities

A fully integrated platform

From the first feasibility study to long-term asset management, we handle every stage of the investment and development lifecycle in-house.

01

Net-Lease Development

Build-to-suit and ground-up development of single-tenant net-leased properties for national tenants.

02

Fund & Investment Management

Value-add capital deployment, acquisitions, and fund management focused on durable, income-producing assets.

03

Acquisitions & Underwriting

Sourcing and underwriting value-add opportunities, from off-market deals to portfolio acquisitions.

04

Pre-Construction & Entitlements

Feasibility, site selection, and entitlements that de-risk projects before a shovel hits the ground.

05

Leasing

Net-lease structuring and re-tenanting that secure credit tenants and long-term, stabilized income.

06

Asset & Property Management

Hands-on management that protects and compounds value across the hold period.

Acquisitions

What we're looking for

We move quickly and close with certainty. If you have an opportunity that fits the profile below — on- or off-market — we'd like to see it.

Property Types

  • Grocery-anchored & neighborhood centers
  • Community & strip retail
  • Single-tenant, net-leased (NNN) assets
  • Outparcels & development pads

Markets

  • Top-performing, high-growth U.S. metros
  • Suburban & high-barrier submarkets
  • Nationwide — 47 metros, 22 states
  • Strong demographics, income & visibility

Deal Profile

  • Value-add: lease-up, re-tenanting, repositioning
  • Develop-to-core & build-to-suit (pre-leased)
  • Pricing below replacement cost
  • Off-market, distressed, or 1031 situations

Tenancy & Structure

  • Creditworthy national & regional tenants
  • Single-asset & portfolio opportunities
  • Joint ventures with landowners & developers
  • Speed & certainty of close

Have an opportunity to share? office@unitedgrowth.com · 415-707-7000

Portfolio

A track record across 47 U.S. metros

A selection of investments and developments spanning value-add acquisitions, parcelization, ground-up development, and leasing & repositioning. United Growth has completed 78 investments since 2010.

Value-Add

Acquiring and repositioning underperforming necessity-retail centers — creating value through leasing, re-tenanting, parcelization, and active management.

Palm Desert, CA · Inland EmpireCurrent
Value-Add

Town Center Plaza

81,990 SF · Trader Joe's, Michaels

A Trader Joe's-anchored neighborhood center just north of the El Paseo luxury corridor, acquired at below 50% of replacement cost. Both anchors have operated here for 30+ years, with strong leasing momentum across junior-anchor and pad space.

Acquired Feb 2026

Chester, NJ · Morris CountyCurrent
Value-Add · Re-Tenanting

Streets of Chester

104,717 SF · Marshalls, Burlington · high-income trade area

An off-market REO acquired at a steep discount to its prior sale price in an affluent Morris County trade area. We are repositioning the center from a legacy lifestyle-tenant mix toward daily-needs retailers and backfilling vacancy.

Acquired Dec 2025

Roseville, CA · SacramentoCurrent
Value-Add

Ridge at Creekside

187,037 SF · 100% occupied · Floor & Decor, REI, Cost Plus, Macy's

Acquired a fully-leased community center at a significant discount to replacement cost, directly across from the region's premier mall. Already de-risked by extending the Macy's Furniture lease ten years in the first year of ownership.

Acquired Sep 2024

Olathe, KS · Kansas CityCurrent
Value-Add · Core-Plus

Olathe Portfolio

326,927 SF · 3 centers · Whole Foods, Marshalls/HomeGoods, Michaels

Acquired a two-property portfolio out of receivership at a discount to loan value, then recapitalized with an institutional partner to add an adjacent center. Whole Foods anchors on a 20-year lease; extensions already signed with LongHorn and Five Below.

Acquired Nov 2023

North Richland Hills, TX · DFWPartially Realized
Value-Add · Leasing

The Crossing

187,440 SF · 9 new tenants · parcelized outparcels

Leased roughly 20% of vacant GLA, upgraded tenancy in a primary retail node, and carved out outparcels to capture cap-rate compression ahead of exit.

Acquired 2022

Richmond, VAPartially Realized
Value-Add · Leasing

Meadowbrook

190,752 SF · Marshalls, Burlington · QSR pad added

Demised and consolidated vacant suites for two national credit tenants, secured a ground-up QSR pad on a former MTM outparcel, and parcelized outparcels for disposition.

Acquired Dec 2021

Solon, OH · ClevelandCurrent
Value-Add · Leasing

Uptown Solon

182,334 SF · 16 new tenants

Re-tenanted every large-box space in the center and pivoted struggling soft-goods tenancy toward daily-needs users, reaching full occupancy.

Acquired Apr 2021

Jacksonville, FLRealized
Value-Add · Parcelization

Avenues Walk

140,000 SF · 14.1 acres · 11 parcels · Havertys, Escapology, Dollar Tree

Acquired a distressed, 11-parcel center at a fraction of replacement cost, then created value by separating and selling parcels individually — including spinning off a ground-up development pad — before disposing of the main center to a private buyer.

Acquired Mar 2021 · Realized Sep 2025

Phoenix, AZRealized
Outparcel Dev · Multi-Tenant

Mountainview Thunderbird Marketplace

128,097 SF · Walgreens, Vasa Fitness, FastMed

Outparcel development and a multi-tenant strip center on E. Thunderbird Road.

Acquired 2021

Salem, ORRealized
Single-Tenant Net Lease

Planet Fitness

23,310 SF · Planet Fitness

A net-leased fitness box on Commercial Street in Oregon's capital.

Acquired 2019

Canton, GA · AtlantaRealized
Value-Add

Riverplace

127,853 SF · Ingles, Staples, Aaron's, CATO

Directly sourced from a distressed seller. We extended the Ingles anchor lease by ten years in exchange for approving a fuel center, renewed in-line tenants, and sold to a buyer drawn to the durable, long-duration income.

Acquired Mar 2017 · Realized Nov 2019

Oak Park, MIRealized
Value-Add

Oak Park Center

100,000 SF · CVS, Save-A-Lot

A value-add neighborhood center anchored by CVS and Save-A-Lot in metro Detroit.

Acquired 2017

Development

Ground-up, build-to-suit, and develop-to-core projects — net-leased pads and centers delivered for the nation’s leading tenants.

Tulare, CARealized
Entitlements · Multi-Tenant Pads

Tulare

22-acre site · Cartmill Ave & Highway 99

Secured full entitlements — final parcel map, conditional use permits, and a land swap with the City — and delivered major improvements including the Gem Street extension, a new private road, and wet/dry utilities, while coordinating REAs and construction schedules across multiple national end users.

Acquired Dec 2022 · Realized Jun 2026

Fairfield, CA · Bay AreaRealized
Redevelopment · Ground Lease

Fairfield Starbucks

0.90-acre site · Starbucks

Formed a joint venture with the landowner, demolished a former Denny's, secured a conditional use permit from the City of Fairfield, and negotiated a long-term ground lease with Starbucks for a new drive-through pad.

Acquired Dec 2022 · Realized Dec 2025

Maui, HICurrent
Phased Development · Ground Lease

Ma’alaea Triangle

4-acre site · Ma’alaea Harbor · Starbucks

Navigated complex entitlements within the Ma’alaea Association — an upsized water meter, a new condominium map, and site-plan approval — then built and sold a freestanding Starbucks despite COVID-era supply-chain and Lahaina-fire disruptions. Anchor terms for the balance of the site are in negotiation.

Acquired Jun 2022

Hayward, CACurrent
Single-Tenant · Develop & Sell

El Pollo Loco

5,000 SF · El Pollo Loco

A ground-up single-tenant pad developed at a hard corner in the East Bay, realized through a 2025 sale.

Acquired 2018

Cupertino, CARealized
Single-Tenant Ground Lease

Bank of America

~6,000 SF · Bank of America

A net-leased financial branch in the heart of Silicon Valley.

Acquired 2018

Phoenix, AZRealized
Single-Tenant Ground Lease

Burger King

3,200 SF · Burger King

A single-tenant ground lease on W. Bell Road in metropolitan Phoenix.

Acquired 2018

Deerfield Beach, FLRealized
Single-Tenant Ground Lease

PDQ

3,300 SF · PDQ

A single-tenant fast-casual ground lease on W. Hillsboro Boulevard in South Florida.

Acquired 2018

Redding, CARealized
Build-to-Suit

Verizon Wireless

3,800 SF · Verizon Wireless

A build-to-suit pad within Redding's primary retail trade area, one block from the regional mall.

Acquired 2017

Biddeford, MERealized
Multi-Tenant Net Lease

Biddeford

15,000 SF · Dunkin', Five Guys, Firehouse Subs

A multi-tenant net-lease strip of national QSR and service brands in southern Maine.

Acquired 2016

Orlando, FLRealized
Develop-to-Core

Millenia

18,900 SF · Verizon, Chipotle, Sleep Number, Pei Wei

A develop-to-core joint venture: built three buildings on vacant land shadow-anchored by Target, fully pre-leased on ten-year NNN leases, delivered under budget, and sold upon completion.

Acquired Dec 2015 · Realized Aug 2017

Beavercreek, OHRealized
Build-to-Suit

Hobby Lobby

55,000 SF · Hobby Lobby

A build-to-suit big-box for Hobby Lobby in suburban Dayton.

Acquired 2015

Butler, PARealized
Outparcel Dev · Reverse BTS

Dick's Sporting Goods

58,950 SF · Dick's Sporting Goods, Starbucks, Aspen Dental

Outparcel development and reverse build-to-suit anchored by Dick's Sporting Goods.

Acquired 2013

Pensacola, FLRealized
Development · Adaptive Reuse

Outback Steakhouse & Mattress Firm

13,500 SF · Outback Steakhouse, Mattress Firm

Developed at the gateway to University Town Plaza and Cordova Mall in Pensacola's core retail corridor.

Acquired 2012

Selected investments shown for illustration. Past performance is not indicative of future results.

Tenants

Brands that grow with us

Over more than three decades we've developed, leased, and partnered with many of the nation's leading retailers, restaurants, and service brands.

Kroger
Walmart
Aldi
Starbucks
McDonald's
Chipotle
In-N-Out Burger
Dunkin'
Panera Bread
Panda Express
Subway
The Habit Burger Grill
Texas Roadhouse
LongHorn Steakhouse
Outback Steakhouse
Shake Shack
Raising Cane's
Krispy Kreme
Pollo Tropical
Jollibee
Fogo de Chao
Kura Sushi
First Watch
Jamba Juice
Hops & Drops
Birdcall
Lucky California
Smart & Final
Chuck E. Cheese's
Burlington
Kohl's
Ulta Beauty
Old Navy
Best Buy
Sleep Number
Hobby Lobby
Dick's Sporting Goods
Dollar General
Petco
Marshalls
Verizon
T-Mobile
AT&T
Sprint
Chase
Wells Fargo
Bank of America
Supercuts
Kay Jewelers
Planet Fitness
Gold's Gym
Crunch Fitness
Aspen Dental
Heartland Dental
Eyeglass World
Target
Rustic Bakery
Chick-fil-A
Pei Wei
Five Guys
Macy's
Ross Dress for Less
Whole Foods Market
Mattress Firm
REI Co-op
Dollar Tree
Cost Plus World Market
Floor & Decor
Athleta
Talbots
Jersey Mike's
GAP
Banana Republic
Trader Joe's
Michaels
7 Brew Coffee
Dutch Bros
CVS Pharmacy
Burger King
Wendy's
Ace Pickleball Club
Tractor Supply Co

How we work

Values that compound over time

01 Integrity

To be honest and up front, and to deliver on our word. Every relationship we build depends on it.

02 Collaboration

We work with mutual respect — for our investors, tenants, and partners — and we enjoy the process of building together.

03 Persistence

A passionate commitment to achieving results and finishing what we start, on time and on point.

Meet the team

The people behind our excellence

A multidisciplinary team across development, investment, transactions, and operations — building growth together.

Leadership & Team

Brad LaRue

Brad LaRue

Chief Executive Officer

Chad Eisenbud

Chad Eisenbud

Senior Vice President

Kevin Kawashita

Kevin Kawashita

Vice President

Mark Swerling

Mark Swerling

Vice President

Matt Cuneo

Matt Cuneo

Vice President

Hoda Kemp

Hoda Kemp

Managing Director

Jared Lux

Jared Lux

Director

Justin Tran

Justin Tran

Associate

Nate Derrick

Nate Derrick

Associate

Ronnie Ferrer

Ronnie Ferrer

Analyst

Eterna Reyes

Eterna Reyes

Controller

Sara Hansen Wilson

Sara Hansen Wilson

Special Real Estate Counsel

Maree Goh

Maree Goh

Executive Administrator

San Francisco Transaction Team

Chris Kostanecki

Chris Kostanecki

Managing Director

Zeb Ripple

Zeb Ripple

Managing Director

Jack Navarra

Jack Navarra

Vice President

Senior Advisors

Huayu (Claudia) Cai

Huayu (Claudia) Cai

Senior Advisor

Thaili Chi

Thaili Chi

Senior Advisor

Jeff Leon

Jeff Leon

Senior Advisor

“We focus on more than filling vacant spaces. We create and acquire the right assets, in the right locations, for the right tenants — and we manage them to build lasting value.”

— The United Growth philosophy

Giving back

Building growth together extends beyond real estate. We proudly support the Leukemia & Lymphoma Society, the Tahirih Justice Center, and Feeding America.

Let's build together

Investing, leasing, or have a site to develop?

Whether you're an investor, a national tenant, a broker, or a landowner, we'd like to hear from you. United Growth partners with the people who help communities grow.

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