Main Theme:
This episode delves into the lucrative world of Flex Industrial real estate, particularly focusing on the revitalization of secondary properties in the Southeast United States. Grant Reaves, managing director of Stoic Equity Partners, shares insights on how his firm capitalizes on high construction costs and demographic shifts to transform legacy properties into profitable investments.
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Key Discussion Points:
- Revitalizing Secondary Properties:
- Targeting markets like Birmingham, South Alabama, and Jackson, Mississippi.
- Opportunities arise from retiring legacy property owners.
- Profiting from areas with population growth and new business influx.
- Flexibility and Market Demand:
- Creating adaptable spaces for diverse business needs, from online boutiques to life science companies.
- Enhancing the visual appeal and balance of industrial spaces to attract tenants.
- Commercial Real Estate Insights:
- Explanation of triple net leases.
- Distinctions between self-storage and flex industrial spaces.
- Investment strategies tailored to current market conditions.
- Industry Trends:
- Institutionalization of the self-storage industry.
- Emerging trends in the flex industrial sector.
- Practical Advice:
- Importance of engaging with local brokers to understand market dynamics.
- Strategic location choices for property investments.
- Transitioning from brokerage to property ownership as a pathway to long-term wealth building.
Connect with Grant Reaves:
- greaves@stoicep.com
- https://www.linkedin.com/in/grant-reaves-69876163/
- https://twitter.com/reaves_grant
- http://www.stoicep.com
Biography of Grant Reaves:
Grant Reaves is a co-founder and Principal of Stoic Equity Partners in Daphne, AL. He oversees the Acquisition Department, Investor Relations, portfolio management, and the firm’s debt relationships. Alongside his business partner, Jeremy Friedman, Grant has grown Stoic’s real estate portfolio to over $50MM and 500,000 SF of developments/acquisitions since July 2021. Stoic began by investing in self-storage completing 4 acquisitions / developments before transitioning to multi-tenant flex industrial. The firm continues to be focused on purchasing value add, multi-tenant flex industrial properties throughout the southeast. After studying business at Auburn University, Grant began his career in commercial real estate brokerage, focusing on selling limited service hospitality assets nationwide. This experience equipped him with essential skills in underwriting, deal structure, and portfolio management, which he now applies to Stoic’s success. Grant resides in Fairhope, AL, with his wife Lawren and their son William.