What market are you investing in or targeting? Drop your city below.

Looking for some advice from the group. Happy to discuss here or coordinate a call with someone who has experience in this space. We currently own shallow-bay and mid-bay industrial assets within our portfolio, but we are evaluating two portfolios of micro-bay properties. Each portfolio has approximately 50+ tenants, with average unit sizes of 1,000 SF and typical lease terms of two years. I'm trying to get a better understanding of the following: 1. Leasing and Renewals: How do you handle leasing and renewals with this many tenants? We typically use outside brokers who work alongside our in-house leasing team. However, given the volume of leases and renewals, I don't see our current team being able to handle this without adding staff. Is there a more efficient approach? 2. Lease Terms: The assets we're evaluating typically have two-year leases. Is it realistic to push tenants toward 3–5 year terms, or is the shorter lease structure simply part of this asset class? 3. Exit Strategy: Who is the typical buyer of micro-bay assets? My assumption is that institutional investors may be less interested given the number of tenants and the management intensity. Is that a fair assumption? 4. Other Considerations: Are there any other operational challenges, underwriting considerations, or lessons learned that we should be thinking about before entering this segment? Appreciate any insight from those who have experience owning and operating micro-bay properties. Thank you.

Wanted to give kudos to @Connor Dahl for securing my financing on a ground up 43,000 sqft small bay flex development in Greenville SC. Connor got me a construction to mini-perm loan with interest only for 24 months on a 5 year term with 25 year amortization at a 7.0% fixed rate for the term with 75% LTC. I met Connor through this Basecamp forum and he did a great job for me. I would recommend him and PeakHill Capital. Thanks @Will Skillman for putting this community together!

first building of four vertical!

Recently toured a beautiful flex project in Tomball that has a lot of great intangibles. You will see why this one commands some of the higher rates in the area and had a quick lease up timeline. They didnt use your traditional R Panel, instead got creative with different metal sheets and this one came out really well. https://youtu.be/pycn_tX1_0Y?is=OW_dF0XetP63D7PL