Podcast: Investing in multi-tenant industrial real estate | RENX
Podcast: The Industrial Real Estate Show with Chad Griffiths
Guests Jeremiah Boucher and Tim Wilkins from Patriot Holdings provide an insightful interview during which they discuss why multi-tenant industrial is attractive and conduct a deep dive into a new development currently underground.
Links to the documents they refer to, with host Chad Griffiths, are also in the linked comment section.
1:51 – why multi-tenant industrial;
4:55 – site selection and how to choose a market;
8:25 – the risks of using professionals familiar with the building;
14:44 – jumping into the project, including site planning;
11:30 p.m – development budget;
29:40 – financing underwriting;
33:37 – loan details;
37:50 – creditworthiness for small industrial tenants;
41:40 – holding strategies;
45:01 – where opportunities exist;
48:02 – background story on Patriot Holdings;
50:48 – Advice for new investors and developers.
Boucher is the founder and CEO of Patriot Holdings LLC, and has specialized in the acquisition and development of alternative commercial real estate assets over the last 20 years.
He currently owns and operates a $200 million-plus portfolio of high-performing commercial properties, ranging from manufactured home communities to self-storage facilities to industrial parks.
Wilkins is a co-founder of Patriot and has been pivotal in scaling Patriot’s development and construction projects.
With over 17 years in commercial real estate, he brings deep insights into the industry. An experienced managing director, he specializes in value-add commercial real estate in multiple asset classes including mobile home parks, self-storage facilities, retail and industrial.