Meet Grant Reaves, Co-Founder and Managing Director at Stoic. With a strong background in commercial real estate brokerage, Grant brings extensive experience in acquisition, investor relations, portfolio management, and debt relationships, overseeing transactions totaling over $200MM throughout his career. Starting his journey after studying business at Auburn University, Grant specialized in limited service hospitality assets, later expanding his expertise at Marcus & Millichap’s National Hospitality Group. Now, he leverages his skills in underwriting and deal structure to drive Stoic’s success. Grant resides in Fairhope, AL with his wife, Lawren, and son, William, actively engaged in their community through Church of the Apostles Eastern Shore.
Episode Highlights Here:
Brett So grant, what’s the number one secret to industrial cashflow investing? Grant So what we do is multi tenant flex. So that is multiple tenants. So anywhere from say 10 to 30, tenants and complex and these are smaller office warehouse suites. So we do not do the large scale bulk warehousing, Amazon warehousing, big 200,000 square foot tenant kind of stuff, we do, say 100,000 square foot building made up of a lot of five and 10,000 square foot office warehouse suites so there’s more business park kind of assets. The secret we feel like that is that you know occupancy mitigation because you have so many tenants and even if you have two or three leave, it’s not that big of a deal and more bulk warehousing industrial side, if you have one or two your tenants leave, you could be negatively cash flowing for a couple of years returning those spaces. Also, the biggest reason we do we do this asset classes, none of it’s been built the past one a year so we have huge supply demand metrics that are really in our favor. We’re buying these for well below replacement costs, the numbers don’t work to build new product on top of us. And it’s just a very undersupplied market and specific markets we plan which is the southeast. Brett Excellent. So it sounds like the ability to quickly turn over if a tenant goes out the occupancy renovation is pretty pretty seamless or quicker and not as expensive number one number two supply demand just as the imbalance is the sheer necessity of the growing industrial market. And then he said it’s the flex space which is the key right this is this is more of the middle market or gets smaller smaller to mid sized companies right versus a huge large FedEx industrial warehouse which is a whole nother space right this is this is going to be something that’s it’s needed like what give us some average tenants and what that looks like the tenant mix up Grant So we will have some national tenants that we have department excellent quite a few of our buildings we have I see actually the like the communities where I see is a tenant of some of our so you have some nationals but you also have a lot of like local h.com companies, local general contractors more Mom and Pop kind of a regional suppliers of different types of logistics or manufacturing or kind of smaller accidents like that. We do find that that through that most of those people dis protected from work from home because people do hear that office competitive a little bit and get a little bit wary of that. But if you need to have 60% of your working space be warehouse you can’t get work from home you need to have space for whatever your business entails. You have to have that warehouse space so it’s protected from that whole work from home piece of office as well. Watch the episode here: https://www.youtube.com/live/6xg2_8V7cUQ?si=IE-Yq99_SZvp5Jv_
Important Links:
About Grant Reaves
Grant Reaves is a Co-Founder and Managing Director for the firm. Grant oversees the acquisition department, investor relations, portfolio management, and the firms debt relationships. Grant has been involved in over $200MM of real estate transactions throughout his career. After studying business at Auburn University, Grant began his career in commercial real estate brokerage at the age of 21. Grant worked for regional brokerage firm, Bellator Commercial, selling properties in all major asset classes. After 2 years in brokerage, Grant developed a niche of selling limited service hospitality assets. In 2017 he moved to Marcus & Millichap to work in their National Hospitality Group to be able to expand geographic territory. This experience equipped him with essential skills in underwriting, deal structure, and portfolio management, which he now applies to Stoic’s success. Grant resides in Fairhope, AL with his wife, Lawren, and son, William. They are members of Church of the Apostles Eastern Shore.
- capitalgainstaxsolutions.com
- Capital Gains Tax Solutions Facebook
- Capital Gains Tax Solutions Twitter
- Capital Gains Tax Solutions Tiktok