Grocery Outlet (c. 1982)
1717 Harrison Street, San Francisco

We currently own and operate over 2 million square feet of retail, multifamily, and industrial real estate throughout Northern California, Oregon, and Washington. Our focus is on enhancing neighborhoods through thoughtful development, long-term ownership, and active management which creates sustainable value for our investors, tenants, and communities. We constantly seek acquisition and development opportunities and differentiate ourselves through liquidity, decisiveness, and creativity.

Our origins date to 1946 when Grocery Outlet was founded by Jim Read. Jim’s sons, Peter and Steven Read took over and during four decades grew the grocery business to 150 stores across six western states, along the way opportunistically acquiring some of their own store locations. Morgan Read joined his father and uncle in 2005 to establish, grow, and diversify a standalone commercial real estate operating business.

In 2014 Morgan and his lifelong friend, Kasey Stevens, formed R&S Investments, a joint venture multifamily development company. To date R&S has developed and stabilized three Class A multifamily projects in the San Francisco Bay Area with a pipeline in excess of 700 units. All properties operate under the Aquatic Living brand, a platform founded by Morgan and Kasey to deliver a premium community experience to its residents. R&S is committed to a long-term investment strategy to develop and acquire high quality multifamily assets in premium infill locations across the Western United States.

Both of our companies are served by a talented and committed Advisory Board.

Peter Read


Steven Read


Morgan Read

Managing Partner

Kasey Stevens

R&S Investments

Our Advisors

John Millham


Dana Parry

President and CEO
Reynolds and Brown

Ken Rosen

Rosen Consulting

John Winther

Managing Partner
Harvest Properties