Weekend View - August 11, 2024

Multiple Perspectives

In this week's episode of Multiple Perspectives, Daniel Brereton provides an overview of the four core types of commercial real estate properties and dives deeper into the specifics of small-bay industrial properties. He discusses the growing demand for these properties, particularly in central Florida, and highlights a current investment opportunity available on the EquityMultiple platform.

Key Topics:

1. Types of Commercial Real Estate Properties:

   • Overview of multifamily, industrial, retail, and office properties.
   • Differentiation of subtypes within each category.

2. Understanding Small-Bay Industrial Properties:

   • Explanation of small- or multi-bay facilities favored by small businesses.
   • Role of these properties in meeting the demand for "last-mile" logistics driven by e-commerce.
   • Advantages of their proximity to urban centers for quicker consumer delivery.

3. Market Opportunities in Central Florida:

   • Strong demand for small-bay properties in Orlando and Tampa areas.
   • Limited new supply due to high development barriers.
   • Potential for significant rent growth and high occupancy rates.

4. Current Investment Opportunity: Bayside 44 Industrial Park:

   • Located in Clearwater, FL, with 95% occupancy.
   • Off-market purchase at a 25% discount to comparable transactions.
   • Investment thesis supported by below-market rents and month-to-month lease structures.
   • Plans to increase rents to market levels and convert leases to triple-net (NNN) structures.
   • Low vacancy rates and limited new supply in the greater Tampa market.
   • Shorter lease terms offer opportunities to keep rents aligned with market rates.
   • Diversification across tenant profiles and business types.

Contact and Additional Information:

• Learn more about the Bayside 44 Industrial Park and other current offerings at equitymultiple.com.
• For questions, contact us at [e-mail].