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Developing Industrial, with Alex Arenkill
Manage episode 428005510 series 3342963
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Welcome to the CRE Clarity Podcast with Jeremy Goodrich. Today, our guest is Alex Arenkill, a real estate developer at Enclave. In our conversation, we dive into the development process. We talk about Alex’s journey and the key steps in the industrial development process. Join us and get inspired.
Learn more about Alex and his story at creclarity.com!
01:00
Alex’s family were multifamily investors, so he grew up in the business. He explored various areas in the real estate industry but now focuses primarily on development and acquisition.
At 29 years old, Alex has already gained extensive experience in real estate. He attributes his success to finding mentors, continuous learning, and networking.
“The commercial real estate business is all about building and nurturing relationships.”
11:30
Alex is an industrial developer based in Chicago. His company, Enclave, manages $1.5 billion in assets. They primarily work with businesses ranging from Fortune 500 companies to the middle market.
Alex shares the key steps of the developer process:
Building a relationship with the client and submitting the RFP. Most tenants and tenant rep brokers prioritize timing, delivery dates, and cost.
Entering the entitlement phase, which involves understanding the general timeline and requirements for site plan approval.
After due diligence, constructing the suit and securing tenants ahead of time. Alex’s company typically works with tenants on 10-20 year leases.
Finally, asset management and property management take over the project with a triple net lease.
“Continue to treat people with respect and it'll eventually come back around to you and good things will happen.”
33:00
Toward the end of the conversation, Alex shares what he’s most excited about currently. He is hopeful that the feared recession will not occur and that the markets will stabilize.
Finally, Alex shares one point of clarity with the listeners - Treat others how you want to be treated.
About our Guest, Alex Arenkill
Alex works at Enclave Companies, which is an integrated real estate investment firm, providing development, construction, and management services for their long-term partners, investors, and clients. At Enclave, Alex leads the national industrial build-to-suit & acquisitions platform, primarily focusing on ground-up developments in the cold storage, manufacturing, and warehouse/distribution sectors. Some of their repeat clients include PepsiCo/Frito-Lay and several national middle-market firms.
To date, Enclave has successfully completed over $1.5 billion of investment real estate throughout the US, primarily across the industrial and multifamily asset classes. They also currently have a pipeline of an additional $400+ million of new development projects across the country.
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Special thanks to Alex Arenkill for taking the time to share so many great insights with us If you enjoyed this podcast, there’s a couple of things we need you to do right now:
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Then, please share the show with whoever you think it will inspire.
Until the next time, We truly appreciate you listening.
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