Has anyone had any experience with bank lending requirements wanting to see a certain percentage preleased prior to closing on the construction loan? And as an expansion to that - can people share their preleasing experience with Small Bay? Is that feasible, or is this asset class a "build it first then lease" type of asset? And if so - how do you reconcile banks wanting to see preleases?

I'm trying to get smarter on replacement cost for small bay industrial — specifically concrete, sub-10K SF units, in infill, established MSAs. Every conversation seems to produce a different number and I'm curious whether anyone out there is actually making institutional-quality product pencil at today's construction costs in supply-constrained infill locations — and if so, how. If you have a development budget you're comfortable sharing (even anonymized), I'd genuinely love to see how the sources & uses stack up and try and understand the underwriting. Trying to build a better framework for evaluating replacement cost vs. acquisition pricing.

We ran a poll, and monthly won clearly over weekly - so let's make it happen. The format: A 45-60 min call built entirely around meeting people, not listening to a presentation. We'll break into rooms of 3-4 for 15-minute rounds, rotating 3-4 times - so by the end you'll have actually talked to 6-10 people in the community.. No prep needed. Show up, introduce yourself, talk shop, repeat. Now the hard part: picking a day and time that works. We're spread across time zones and schedules, so rather than guess, help me find the best fit. Rather than run another poll with a long list of days and times, drop a comment with your best day/time (and time zone) - e.g. 'Tuesday evenings, ET' or 'Weekend mornings, CT.'" I will leave this open for 7 days and then try to find a day and time that works for as many people as possible.

Hi All - I'm Raja, just moved back to Atlanta a couple of months ago after a decade in NY real estate private equity. Have a dual background as an architect, as well as real estate finance. Spent that time in development and acquisitions of multifamily, retail, and mixed use throughout the Sunbelt. Now back in Atlanta and looking to develop small bay/flex projects in the metro Atlanta MSA. Would love to connect with local and regional developers to share thoughts and experience.

Hi all — glad to join! I’m Brad Noble, a principal at Noble Family Enterprises. We acquire and reposition multi-tenant flex and shallow-bay industrial properties across Sunbelt markets, with a portfolio of about 500,000 SF, based in Atlanta. Looking forward to connecting with the group.