ABOUT 2020-01-27T23:35:50+00:00


LRG Investors, LLC (“LRG”) is a privately held investment management firm that specializes in the acquisition, management, and development of commercial real estate properties throughout the U.S.


LRG is an affiliate of Lockehouse Retail Group, which is a full service retail brokerage firm based in San Mateo, CA. As a natural progression to a successful background in tenant and landlord retail representation, LRG Investors, LLC was formed to address our investor’s desires to diversify into other commercial properties.


LRG Investors, LLC origins center around two beliefs, teamwork and a constant drive to be trendsetters in the age-old business of commercial real estate. In each of our projects, whether existing buildings or ground-up developments, we seek to create quality environments that will serve and inspire future generations. Our mission is to deliver exceptional returns to our investors by creating value that enriches the lives of the communities we invest in. We accomplish this through our strong business relationships, real estate expertise, and a long reaching network of real estate professionals that help us gain the competitive advantage, see value where others can’t, and maximize returns.


LRG acquires both core and add-value real estate that fits a range of investor return profiles. LRG’s foundation and success is based off of strong, long lasting relationships with its investors.  We make sure to have a deep understanding of each investor’s goals, only presenting highly vetted opportunities that match their profile.


San Mateo Office

477 9th Avenue, Suite 100
San Mateo, CA 94402

(650) 692-3400

Walnut Creek Office

2099 Mt Diablo Boulevard, Suite 206
Walnut Creek, CA 94596

(925) 627-7900



Josh is the co-founder of LRG Investors, LLC and Senior Partner at Lockehouse Retail Group, Inc. Josh has over 20 years of commercial real estate investment, development and brokerage experience. Josh employs several core disciplines including the acquisition of investments with a value-add component, ground-up development, corporate rollouts for emerging retailers, and consulting on retail components of urban mixed-use projects. LRG Investors has completed over 20 projects since 2013 with an estimated valuation is excess of $300,000,000. Josh has built a reputation of honesty and efficiency while creating returns for his partners that far exceed the industry standard. As a partner in the Bay Area’s leading retail brokerage firm, Lockehouse Retail Group, Inc., Josh maintains unparalleled tenant relationships that enable his projects to proceed with pinpoint accuracy while alleviating aspects of risk through lease execution prior to close of escrow. Josh received a Bachelor of Science from the University of Oregon. He currently sits on the board of Hip Housing, is an active member in Bay Area youth sports and involved with the Okizu Foundation, a camp that provides an opportunity for Children with cancer to be Children rather than Children with cancer. Josh is an avid runner and mountain biker and currently resides in Hillsborough with his wife Katie, daughter Addison, and son Frankie.


Steve, a graduate of the University of Oregon is co-founder of LRG Investors, LLC and Principal Owner/Founder of Lockehouse Retail Group, Inc.  Steve and his team have grown Lockehouse Retail Group into the premier retail brokerage firm in Northern CA.  Steve grew Lockehouse from 3 agents in 2006 to two offices and 20 agents in 2018, the largest retail focused brokerage firm in the Bay Area.  Steve’s direct involvement has also helped LRG create a continued track record of success, a few examples include: the winning of an RFP from the University of California at Berkeley to ground lease, entitle, lease and development of University Village Shopping Center in Albany, CA (Sprouts anchored shopping center).  The successful acquisition, entitlement, leasing and development of the Sprouts Farmers Market and Shops in Oakland, CA.  The Oakland Sprouts was the first major retail project in Up Town and was a major catalyst for the explosion of growth in the area.  The recent acquisition of the 60,000 SF Raleys on Douglas Blvd. in Roseville, CA, amongst many other projects. As co-founder of LRG Steve and his partners have successfully acquired or developed over 20 projects in the western united states valued at well over $200 million. Lockehouse and LRG are full service real estate companies that can do everything from lease up, property management, sales, to full scale entitlement and development services.  Steve currently sits on the board of Chainlinks www.chainlinks.com, the number one retail brokerage network in the country.  Steve also sits on the board of The Okizu Foundation, which is the largest camp in the western US for children with cancer, their siblings and families www.okizu.org


Ryan joined LRG Investors, LLC as a partner in August 2015. With more than 20 years in the industry, Ryan has successfully developed or redeveloped numerous shopping centers throughout the western US, totaling more than 2.5 million square feet valued at over $1 billion, including Slatten Ranch in Antioch, East Washington Place in Petaluma, Gateway 101 in East Palo Alto and North Texas Junction in Fairfield. Additionally, Ryan serves as Managing Partner of Lockehouse Retail Group, one of Northern California’s premier commercial brokerage companies, overseeing operations in the East Bay. Before joining LRG Investors Ryan was Vice President of Investments at Regency Centers managing development and acquisitions in Northern California. Ryan has served on the International Council of Shopping Centers’ Northern California Programming Committee and is active with the Urban Land Institutes Urban Plan, a high school academic program that educates students in urban development. He earned a Bachelor of Arts from the University of California, Santa Barbara. He lives in Danville with his wife and two sons and enjoys spending time outdoors with his family backpacking, cycling, and coaching youth sports.


Michael Armijo Butler is the Managing Partner and Qualifying Broker for Lockehouse Retail Group and a Principal with LRG Investors. Previously he co-founded Base 5 Retail Partners where he was a Principal and Qualifying Broker until September 30, 2016. Michael worked at NAI Maestas & Ward beginning in 2005, and was named its youngest Director in 2007. He has extensive domestic and international business experience, having lived and worked in Mexico, Singapore, Australia, Malaysia, Hong Kong and India. As Asia Pacific Regional Sales Director for Actuate, a publicly held software and technology firm, his clients included Citibank, Credit Suisse Asset Management and Deutsche Bank. An Albuquerque native, Butler earned his B.A. and B.S. degrees from the University of Oregon. He also studied international business, marketing, management and Spanish at the Universidad de Sevilla in Seville, Spain at the International Consortium of International Studies.


Kirk is the Director of Acquisitions for LRG Investors, LLC. He is focused on aggressively pursuing acquisitions and opportunistic investment opportunities for his employers and investors. He has broad experience in real estate finance, having originated and underwritten residential and commercial loans for nearly a decade. Prior to joining LRG, Kirk has also been the managing member of multiple single-family rentals and commercial office assets for investors and private owners. Kirk earned a B.A. in Economics and B.A. in Communication from University of California, Davis and a MBA from Columbia Business School.


As the Chief Financial Officer for the Lockehouse & LRG Investors family, Julia brings over 10 years of accounting expertise to the team. Originally with a degree in Communication Studies from Sonoma State University, Julia went back to school in 2007 to change career paths and earn her license as a CPA. She has held multiple roles in different industries ranging from Construction to Technology as well as worked with multiple clients as an independent Accounting Consultant. Focusing on streamlining protocols and organization.


Meridian Square – 1100 Concord Avenue, Concord CA

The Shops at Monroe – San Pablo at Monroe, Albany CA

30th at Broadway, 3001 Broadway, Oakland CA

15383-15391 Bangy Road, Lake Oswego OR

1915 Douglas Blvd, Roseville CA

2201 Grand Blvd, Vancouver WA

Slatten Ranch – 5759 Lone Tree Way, Antioch CA

10 Santa Rosa Avenue, Santa Rosa CA

North Texas Junction – 2525 N Texas Street, Fairfield CA

220 NE Terry Lane, Grants Pass OR

1618 Franklin Street, Oakland CA

1000 Howe Avenue, Sacramento CA

2811 East 4th Plane Boulevard, Vancouver WA


4775 Hacienda Drive, Dublin CA

2099 Mt Diablo Boulevard, Walnut Creek CA

5511 Sunrise Boulevard, Citrus Heights CA

1910 East 20th Street, Chico CA

239 South B Street, San Mateo CA

35 Rowland Way, Novato CA

15350 East 14th Street, San Leandro CA

24601 Mission Boulevard, Hayward CA

2098 El Camino Real, Mountian View CA

Gilroy Crossings – 6955 Camino Arroyo, Gilroy CA

1335 West Pacheco Road, Los Banos CA

969 East Prosperity Avenue, Tulare CA

2430 Mahogany Way, Antioch CA

1425 Ary Lane, Dixon CA

961 Emerald Bay Road, South Lake Tahoe CA

Sandstone Heights – 1215 NW Portland Avenue, Bend OR

414 Norton Avenue, Bend OR