News & Insights

The Return of Income

Molly Kosakowski, Director of IR & Marketing, breaks down the return of income-focused investing and how Core+ strategies in last-mile, small- and shallow-bay industrial and positioned to benefit. These assets generate immediate cash flow, reduce downside risk, and still offer upside through mark-to-market rents and light improvements. It’s what we call “an income bridge to growth.”

All of a Sudden, Income Matters

This whitepaper examines how investor priorities in real estate are shifting in response to today’s market conditions. Income stability is once again taking center stage, as the focus moves away from growth-at-all-costs strategies. In this environment, it’s not vacancy, but in-place income that’s driving value. Small- and shallow-bay industrial assets continue to stand out, backed by strong demand and limited supply. At the same time, institutional rebalancing is creating new opportunities for middle-market investors to access high-quality assets that were previously out of reach.

New Build-to-Suit Project

We’re adding a new 8,000 SF warehouse expansion to one of our existing IOS (Industrial Outdoor Storage) sites. This project is a true partnership—we’re working closely with an existing tenant to meet their growing operational needs, adding drive-through doors for increased functionality and flexibility. This project supports tenant growth, expands site capabilities, and enhances the long-term value of the asset.

We’re excited to help our tenant scale their business while unlocking the full potential of the site.

New Acquisition

We closed on an off-market property for an existing tenant in our portfolio—marking our 12th building together across four states. This property is strategically located adjacent to the tenant’s current facility and will support the growth of one of their key divisions. The building features a 15,000 SF footprint and ½ acre of yard space—a perfect fit for their evolving operational needs.

At the core of our strategy is building long-term partnerships, and this deal is a great example of that in action.

1Q25 Quarterly Update

This quarter, we’ve continued to refine our focus on small- and shallow-bay (SSB) industrial—and we’ve shared a deeper look at the strategy behind it. Inside this look back at our first quarter: The Case for SSB Industrial — our new whitepaper, asset spotlight: a high-quality small-bay property in Tolleson, AZ, and video insights from our team, including President John Comunale. Explore how we’re investing through the current cycle—and why we believe the fundamentals of SSB remain as strong as ever.

The Case for Small- and Shallow-Bay

Durable Demand, Limited Supply, and Long-Term Growth

Industrial real estate has been one of the best-performing asset classes over the past 15 years, but not all industrial is created equal. Small- and shallow-bay properties stand out as a unique opportunity, benefiting from durable demand, tight supply, and long-term growth tailwinds.

Rectangle Market Spotlight

Dallas Industrial

Dallas-Fort Worth isn’t just one of the fastest-growing metros in the U.S.—it’s a powerhouse industrial hub driving the future of logistics and distribution. As one of our four target markets for the Private Capital Core Fund, it takes center stage in this Market Spotlight.

Asset Spotlight: Phoenix, AZ

Tolleson Asset Overview

Charlie Wigdale, Vice President – Investments, provides an overview of a key seed asset in Phoenix’s Tolleson submarket. This fully leased, institutional-grade industrial property aligns with our core investment principles. The acquisition reinforces our commitment to high-performing industrial assets in key growth markets.

Small- and Shallow-Bay Industrial Properties

Austin White Breaks Down the Asset Class

Austin White, Senior Vice President – Investments, dives into the world