PHOENIX-Prolific retail developer RED Development has moved away from new construction to focus on building an operating portfolio with its existing assets and future acquisitions. The shift is a response to the continuing lack of demand for new retail product, according to Steve Maun, president of RED Development.  

As part of the new strategy, RED Development formed a joint venture with its long-term institutional capital partner, which is advised by CDK Realty Advisors. The new company, RED Consolidated Holdings LLC, owns 22 properties totaling more than 9 million square feet in 12 states. The properties were contributed by both RED Development and CDK’s client, Maun notes. RED Development is now a subsidiary of RED Consolidated Holdings and will manage the portfolio.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2023 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


GlobeSt Net Lease Spring 2024Event

This conference brings together the industry's most influential & knowledgeable real estate executives from the net lease sector.

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2023 ALM Global, LLC. All Rights Reserved.