Catherine Bell talks about Industrial Flex Space

So when we look at, let's just you and I, like I'm interviewing you right now and talk about Southern Ave. And what, what the vision was, what the plan was and what actually happened and then the return for the investors and how freaking cool it was and how we want to do more. So let's talk about your vision. So your vision of what, what, what this is and why.

So my vision is I want to be able to deliver as a product to the American entrepreneur. Right. I mean back in the 80s and 90s, they always talked about, you know, starting a business from your garage. The problem and what I'm seeing in the commercial real estate space is that there's just no availability of moving from your garage to your first industrial space. Everybody right now is building for the Amazons of the world and they're trying to build massive warehouse space. We want, I want to build it to, to deliver a new modern product or the new modern entrepreneur, somebody that's got an idea, wants to run with it and wants to be able to get out of the rat race of renting and not being able to find a place to, to see their dream come to reality.

I love that.

So that's the vision I have is I want to be able to go find, I want to go be an infill developer, find one to two acre parcels throughout different industrial parks in Arizona and be able to put up anywhere from 18,000 to 30,000 square foot building that is going to have small bay industrial condos. I'm pretty passionate about the condo aspect because I want these entrepreneurs and these investors and these, these individuals to have that pride of ownership. I don't want them to be taken advantage of by only being able to rent.

Yeah. So talk about. Because for people who don't know the actual technical terms of this, explain when you say condo, because when most people hear condo, they hear like, like a condo live in. But talk about industrial condo.

So an industrial condo is think of like, think of your standard like 30,000 square foot building that's like a long rectangle, right? And then they're going to have that rectangle is going to be divided up into individual suites, similar to just about any business that you frequent. What I want to do is be able to condo or make that essentially a condo to where each individual suite can be purchased. So you're getting the efficiencies of being in a single building. You're getting or constructing a single building with smaller spaces inside, you're gaining the efficiencies of good parking lots. Of yard, storage areas, everything else. But you as an entrepreneur or you as a small investor are being able to purchase 2, 500 square feet at a time or 3,000 square feet at a time versus having to try to purchase 18,000 square feet at a time. This way it gives that small entrepreneur the ability to really control their own destiny. Right. Right now industrial rents, just like rents and apartments are going up like crazy. And a lot of these businesses are frustrated that the market is so favored to this, to the landlord that they are being out priced in the market. They can't find anywhere that they can rent, they can't find anything that that's affordable. And the only way that I see to combat that is giving the power of ownership to those individuals. Right. And allowing them to go buy their own space, be able to occupy their own space, and then really be the master of their own destiny.

So, okay, I love this. Now talk about where you where when you successfully did this and what the original projections were and then what actually happened.

I wouldn't want to go back and pull up the numbers. I don't remember off the top of my head. But yeah, we, when we first did this on, on Southern and Saucerman, we found a great site, we were able to build a great building and we were able to deliver these condos at an incredible value. And as the market continued to climb, what we realized is we probably actually undersold them, but we were still able to deliver to that and we were able to deliver to the investors. I think it was, help me remember, Was it a 40% return overall? Percent overall return? I think it was 40, 45 return. I can go back and look at the numbers. But at the end of the day, like there is a, there is a recipe in a scenario there where investors can make a great return by literally investing in the American dream and providing that affordability, that flexibility to these entrepreneurs to where now they get to go control their own destiny. It really is kind of a, I view it as a win win for everybody, right? We, you know, we as the developers get to do an awesome project. We get to make, you know, funds sufficient for our time and risk investors get to make a great return. And at the end of the day we're delivering a product that is sorely needed and to where we're giving control to the American entrepreneur.

Brilliant. So brilliant. So I love this. Now moving forward, we're going to be doing more of these.

Yeah, that's correct. Yeah. So definitely we're out looking for sites right now wanting to do more of these and to deliver more of these projects. So stay tuned. But we're hoping to have another site secured by the end of 2025 and start, start pushing to develop more of these products throughout, throughout Arizona.

So if anybody who is looking to have like this type of a building for their business to reach out to you because we're going to have some more of these. And anybody who's looking at investing again, these, what we talked about, these aren't typical, you know, returns and obviously we always tell people, talk to your accountants, attorneys, all the things, do your own due diligence on all of it. But investors are interested in this particular type of investment that really is about, you know, being the sentinels of the American dream. Right. Leaving every person, property and community bed than we found them and then of course having fabulous passive income. The other thing I liked was the timeline from start to finish.

Yeah, I think the whole project, start to finish was about that, 18 months or so.

Yeah.

So they're, they're fairly, yeah, they're fairly quick. Again, Southern app was a little unique because we were buying a pad. So this will probably take a little bit longer, but I would probably target about a 24 month timeline from start to finish. But yeah, super excited about it and I think it's a, it's an area that I think we could be very.

Yeah, I'm super excited. Okay, good. Okay, so I'll take this and then do an opus clip with it and like send it. It's gonna blow your mind and I'll tide you in.