Aerial view of 6435 Shiloh Road in Alpharetta, GA

A Disciplined Approach to Unlocking Value

Transforming underperforming small-bay industrial assets into stabilized, cash-flowing properties.

Investment Thesis

Small-bay industrial offers a rare balance of durable income and meaningful upside. As institutional capital moves into the sector, returns increasingly depend on execution, not acquisition alone.

Our Value-Add Playbook

  1. 01

    Acquire

    We source value-add opportunities through long-standing broker and owner relationships, many of them off-market, and underwrite every deal with proprietary data.

  2. 02

    Improve

    Targeted capital investment in exteriors, building systems, and suites modernizes each property, attracts stronger tenants, and supports rent growth.

  3. 03

    Reposition

    As leases roll, we reset rents to market on NNN terms, shift expense recovery to tenants, and build a diversified, high-quality tenant base.

  4. 04

    Stabilize

    NOI growth and disciplined expense management produce durable cash flow through the hold until the optimal time to refinance or sell.

View our portfolio

Why Small‑Bay Industrial

Small-bay industrial is defined by fragmented ownership, hands-on management demands, and deal sizes that fall below most institutional thresholds. For operators with local relationships and in-house capabilities, those barriers become an opportunity. Compared with traditional big-box industrial, small-bay offers four distinct advantages:

Frequent Mark-to-Market Opportunities

Shorter lease terms allow rents to reset as leases roll, capturing growth faster than long-term single-tenant leases.

Diversified, Resilient Income

Multiple tenants across various industries mean no single vacancy or sector downturn drives performance.

Discount to Replacement Cost

Existing assets trade well below the cost to build new, and targeted upgrades close the gap at a fraction of that cost.

Constrained New Supply

Limited land, zoning hurdles, and rising construction costs make new small-bay development difficult to justify, protecting the value of existing, well-located infill assets.

Fully Integrated Platform

Asset Management
Real Estate Brokerage
Property Management
Construction Management
Proprietary Technology
Meet the team

Featured Case Studies

5014 & 5032 Forsyth Commerce Rd.

Orlando, FL 32807

5014 & 5032 Forsyth Commerce Rd. before renovation
Before
5014 & 5032 Forsyth Commerce Rd. after renovation
After
Acquired
Dec 2021
Total SF
+/- 30,000 SF
Buildings
2
Units
10
Year built
2007
Status
Stabilized

Investment Summary

In December 2021, Collektion Capital acquired a 30,000 SF small-bay industrial park in Orlando, Florida, below replacement cost. Under prior ownership the asset was undermanaged, with a dated exterior, deferred maintenance, and below-market rents on gross leases. The bays are roughly 5% office with the balance warehouse, offering functional distribution space in a high-demand submarket.

Since acquisition, we have brought management and leasing in-house, modernized the exterior, cleared the deferred maintenance, and repositioned leases from gross to market NNN as they roll. Converting to NNN shifted expense recovery to tenants and, with disciplined management, reset the cost structure, delivering the durable cash flow of a completed value-add cycle.

Capital Improvements

  • Modern exterior paint scheme
  • Roof repairs and coating
  • Seal & stripe of asphalt
  • Property-wide surveillance system
  • Upgraded commercial LED lighting
  • New awnings & exterior design
  • Interior renovation: paint, LVP, LED & fixtures
  • Landscaping, tree trimming & irrigation repairs

Value Created

Acquisition basis
$89.83/SF
at purchase
Capital invested
$262,731
$8.76 / SF capex
NOI growth
51.39%
since acquisition

Metrics reflect a completed value-add cycle on a fully repositioned asset as of Q3-2026.

The performance shown reflects specific assets and is not a guarantee or predictor of future results. Each investment is unique, and the past or projected performance of one asset does not indicate the performance of any other. Projected returns are estimates based on assumptions that may prove incorrect, and actual results may differ materially.

2700 Northeast Expressway

Atlanta, GA 30345

2700 Northeast Expressway before renovation
Before
2700 Northeast Expressway after renovation
After
Acquired
May 2024
Total SF
+/- 110,312 SF
Buildings
3
Units
17
Year built
1975–1980
Status
Repositioning

Investment Summary

In May 2024, Collektion Capital acquired Phoenix Business Park, a 110,312 SF industrial business park in an infill location off Atlanta's I-85 corridor. Purchased below replacement cost and 20% vacant under prior ownership, the property pairs office build-out with warehouse space in functional suites, leased to tenants such as Paramount, CVS, and WSP. In-place leases were already NNN but carried below-market rents under hands-off management.

Since acquisition, we have brought management and leasing in-house, invested to upgrade the asset, and leased up the vacancy. As leases roll, we are resetting rents to market while tighter operations improve margins, with rent and NOI climbing as the repositioning matures.

Capital Improvements

  • Modern exterior paint scheme
  • New gutters installed property-wide
  • Full mill, pave, seal & stripe of asphalt
  • Upgraded outdoor seating area
  • Repairs to ramps & truck wells
  • Upgraded commercial LED lighting
  • Property-wide surveillance system
  • Landscaping, tree trimming & irrigation repairs
  • New monument & directional signage
  • Vacant-unit renovation: paint, LVP, LED & fixtures

Value Created

Acquisition basis
$128.42/SF
at purchase
Capital invested
$1.3M
$11.78 / SF capex
NOI growth
13.84%*
projected 2027

*Metrics reflect 2027 projected returns based on signed leases at market rents commencing as leases roll.

The performance shown reflects specific assets and is not a guarantee or predictor of future results. Each investment is unique, and the past or projected performance of one asset does not indicate the performance of any other. Projected returns are estimates based on assumptions that may prove incorrect, and actual results may differ materially.

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