Sauer Properties taps new president

Richmond private real estate company Sauer Properties announced Tuesday that it has promoted Marshall French to president.

French has more than 15 years of experience in commercial real estate development, acquisition and management. He was most recently Sauer Properties’ director of real estate development and construction. French first joined the real estate development and management firm in 2020 as development manager.

He succeeds Mark W. Claud, who left as president Tuesday after serving for almost two years in an interim capacity. Claud is the CEO of real estate company Commonwealth Commercial and serves on Sauer Properties’ board of directors. The previous president was Ashley Peace, who left the position in February 2024 and is now the director of construction for Tract, according to her LinkedIn profile.

“Marshall is the best person to fill this role and we’re thrilled that he will lead the Sauer Properties team,” Sauer Properties Board Chairman Brad Sauer Sr. said in a statement. “He will help to ensure that the company continues to build on our strong legacy through long-term investments with an eye on strategic and intentional growth.”

Before joining Sauer Properties, French was the development and construction manager for National Real Estate Development, where he oversaw large-scale, mixed-used developments in Philadelphia. He also previously worked as a project manager for Clark Construction Group in Washington, D.C.

French has a bachelor’s degree in physics and engineering from Washington and Lee University and a master’s degree in real estate from Georgetown University.

“I’m honored to accept this role and build on the long history of success at Sauer Properties,” French said in a statement. “As someone born and raised in Richmond, I’m of course familiar with this company and the Sauer family. It’s a privilege to be a part of that legacy and continue this incredible work.”

Sauer Properties traces its roots to C.F. Sauer Co., founded in 1887.

In 2019, C.F. Sauer, which includes the Duke mayonnaise brand and Sauer spice products, was acquired by Falfurrias Capital Group, which changed the name to Sauer Brands. In 2025, Sauer Brands was purchased by Boston private equity firm Advent International.

However, the Sauer family retained ownership of the real estate company Sauer Properties, which has a portfolio of over 1.9 million square feet of retail, office, medical, manufacturing and industrial assets, and land available for development.

Sauer Properties recently moved to a new 5,800-square-foot office at 1840 W. Broad St. in Richmond.