The Source of Commercial Real Estate A Window of Opportunity in Micro Bay Industrial with Michael Parrot
Mar 18, 2025
In this discussion, Michael Parrot, Director of Acquisitions at Suncap Real Estate Investments, shares his journey from athlete to real estate innovator. He sheds light on the rising asset class of micro bay industrial properties, emphasizing strategic investment opportunities and the importance of operational management. Parrot reveals data-driven techniques for securing off-market deals and the nuances of effective cold calling in the industry. He also explores emerging trends in flex industrial spaces, pointing to exciting shifts in the market.
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Micro Bay Industrial Opportunity
- Michael Parrott sees opportunity in Micro Bay Flex Industrial due to slow decision-making in larger companies.
- This allows Suncap to acquire assets others are neglecting.
Suncap's Three Pillars
- Suncap focuses on multi-tenant properties with small units (around 1,200 sq ft) averaging 67 tenants per property.
- Their strategy relies on high demand, low supply due to construction costs, and fragmented ownership.
Asheville Acquisition Success
- Suncap acquired a property in Asheville, North Carolina, where previous owners charged low rents.
- They increased NOI by 60-70% in the first year.