A&C Ventures Information

Founded in 1992 by David Grieve, A&C Ventures, Inc. (ACV) is a diversified investment firm headquartered in Sonoma, California, specializing in retail real estate and quick-service restaurant operations. Today ACV owns and operates 140+ properties nationwide and oversees a portfolio approaching $2 billion. Drawing on his experience as a partner at San Francisco brokerage Arroyo & Coates, David Grieve built ACV on a foundation of high-net-worth friends and family investors. That early capital fueled direct portfolio sale-leaseback transactions with brands like Rite Aid, Payless ShoeSource, Office Depot, Pier 1 Imports, and Home Depot—laying the groundwork for a diverse, resilient net-lease retail portfolio that has grown through continued portfolio aggregation. In 2014, ACV entered the Taco Bell franchise system through Diversified Restaurant Group (DRG). DRG now operates 338 Taco Bell restaurants—making it the largest Taco Bell franchisee by sales volume and fourth largest by store count—plus 28 Arby's locations. DRG was named QSR magazine's Franchisee of the Year in November 2025, its second such honor. In 2020, ACV expanded into multifamily, and now manages 1,255 residential units across Kansas City, Chicago, and the Mountain West. The firm's real estate holdings are anchored by single-tenant net-leased assets, complemented by multifamily, hotel, multi-tenant retail, light industrial, and office properties. Beyond DRG, ACV operates two affiliated companies that create a fully integrated platform across the investment lifecycle: First Street Development, which leads ground-up development for QSR brands like Taco Bell and Dutch Bros, and First Street, Inc., ACV's in-house brokerage arm focused on off-market acquisitions and exit strategy. ACV and its affiliates maintain offices in Sonoma, CA; Tiburon, CA; Las Vegas, NV; Scottsdale, AZ; Irvine, CA; and Kansas City, MO.