WE BUY
WORKING CLASS
INDUSTRIAL.
Real estate for the real economy. No fluff. No amenities. Just the operational bases that power the local trades.
The Industrial Supremacy Thesis
Most investors are over-indexed in asset classes that require constant capital and management. Office is emptying. Retail is fighting e-commerce. Multifamily yields are compressed to near-zero.
We chose Working Class Industrial because it is the only asset class that still offers Asymmetric Returns. We trade "Curb Appeal" for "Cash Flow." We trade "Amenities" for "Utility." We trade speculation for the concrete reality of the local economy.
The Irreducibility of Maintenance
In 2075, gravity will still pull water downhill. Pipes will break. Roofs will leak. Our tenants—the plumbers, welders, and mechanics—are the biological immune system of the city. You cannot automate the repair of the physical world. Their demand is permanent.
Long-Term Value:
Civilizational Necessity.
The Inflation Hedge is Structural
Financial assets are paper promises. Working Class Industrial is a claim on the cost of doing business. When inflation spikes, the cost of our land goes up, the cost of replacement goes up, and the NNN lease passes the expense to the tenant. We don't just survive inflation; we monetize it.
Financial Structure:
Real Asset Protection.
The Zoning Straitjacket
Cities are living organisms that push 'dirty' industry to the fringe. But the 'fringe' of 1990 is the 'core' of today. We own the last legal heavy-industrial islands inside the city limits. The government has banned our competition, creating a permanent monopoly on proximity.
Supply Dynamic:
Regulatory Lock.
Big Box warehouses are for robots and cardboard.
Working Class Industrial is for people and steel.
We don't buy the million-square-foot distribution centers. We buy the operational bases that serve the local economy. These are the headquarters for the plumbers, welders, and contractors who actually build the world.
3-Year Rent CAGR
+12.4%
The Shop
"The Incubator with a Dirt Floor."
Replacement Cost Gap
Small Bay & Flex
- Unit Size: 1,500 – 10,000 SF
- Clear Height: 14' – 24' (Ideal for Lifts)
- Loading: 12'x14' Grade-Level Drive-Ins
- Power: 480v 3-Phase Heavy Power
- Price: $500k - $5M
- Cap Rate: 7.0% - 8.0%
- Vintage: 1970 - 2000
- Strategy:Buy Below Replacement
►Why We Buy: High retention. When a tenant installs a 3-ton lift or 400-amp service, they aren't leaving.
Source: CoStar & LoopNet Market Data (Greenville/Spartanburg Class B Flex)
Blended Growth Rate
+14.0%
The Compound
"Headquarters for the Hands-On."
The Hybrid Discount
Low Coverage Industrial (LCI)
- Coverage Ratio: 15% – 25%
- Configuration: Office + Warehouse + Yard
- Fencing: Full Perimeter Security
- Yard: Paved/Gravel for Fleet Parking
- Price: $400k - $4M
- Cap Rate: 7.5% - 8.5%
- Land: 1.5 - 5.0 Acres
- Strategy:Operational Arbitrage
►Why We Buy: The "Unicorn" asset. Most buildings have too much office or too little yard. We buy the perfect ratio for operationally intensive businesses.
Source: Local Market Comps & Land.com Aggregates
3-Year Rent CAGR
+15.2%
The Stockpile
"Air Rights for Heavy Objects."
Infrastructure Multiplier
Industrial Outdoor Storage (IOS)
- Coverage Ratio (FAR): <10%
- Surface: Compacted Stone / Gravel
- Zoning: I-2 / S-1 (Heavy Industrial)
- Strategy: Grandfathered Rights
- Price: $250k - $3M
- Cap Rate: 8.0% - 9.0%
- Condition: Unpaved / Raw
- Strategy:Infrastructure Value-Add
►The Logic: In a normal world, you build to maximize density. In our world, density is the enemy. We buy the 'empty' space that other developers try to fill.
Source: Marcus & Millichap IOS Report / Matthews Real Estate Services
Rate Growth
+18.5%
The Terminal
"The Supply Chain's Bedroom."
The Concrete Arbitrage
Industrial Service Facilities (ISF)
- Type: Truck Terminals / Maintenance
- Paving: 6" Heavy Duty Concrete/Asphalt
- Location: <2 Miles to Interstate
- Zoning Strategy: I-2 / S-1 By Right
- Price: $1M - $8M
- Cap Rate: 8.5% - 10.0%
- Condition: Degraded Paving / Low Security
- Strategy:Repave & Secure
►Why We Buy: Federal mandates force truckers to rest. HOAs ban them. We provide the only legal sanctuary.
Source: Alterra IOS / Zenith IOS Institutional Research
Tenant Intelligence
The Tradesman
Small Bay / Flex Tenant
Business Type
HVAC, Plumbing, Specialty Construction
Revenue Range
$2M - $10M Annually
Stickiness Factor
"You can't fix an AC unit from a laptop. They need a base."
Vital Statistics
The Supplier
IOS / Stockpile Tenant
Business Type
Scaffolding, Utility Pipe, Raw Materials
Revenue Range
$5M - $50M Annually
Stickiness Factor
"Moving 50 tons of steel costs more than the rent."
Vital Statistics
The Logistician
Terminal / ISF Tenant
Business Type
Regional Fleet, Last Mile, Owner-Op
Revenue Range
$10M - $100M+ Annually
Stickiness Factor
"Federal law mandates they stop. Parking is compliance."
Vital Statistics
The One Market Strategy
We don't buy the Southeast. We buy the Upstate. While others fly to 10 different markets, we drive to 10 properties in the same county. Deep roots beat wide nets.
Institutional Discipline.
Operator Precision.
We go where Institutional Capital can't. We do the work you don't have time for. We are the boots on the ground in the one market that matters.
The Aggregation Gap
Deals under $5M are invisible to the giants. We hunt in the pricing inefficiency they ignore.
The Insider Network
We don't buy off LoopNet. We buy off handshakes with owners who have held for decades.
The Operator Premium
We turn "messy" local yards into institutional assets through paving, fencing, and professional management.
Deploy Capital into Real Assets
We are aggregating the essential infrastructure of the Upstate.