What do Amazon warehouses, mom-and-pop tenants, and crab processing plants have in common? Gregg Gruehl reveals the unseen forces driving America’s industrial real estate boom. In this episode, Gregg shares why the world of industrial investments remains a mystery to many retail investors, how co-sponsorship accelerates development, and why due diligence in this space demands more than spreadsheets. Plus, you’ll hear his firsthand stories of navigating unpredictable deals and the surprising challenges behind triple-net leases.Guest BioGregg Gruehl is an industrial real estate entrepreneur specializing in value-add and ground-up developments. His experience spans major players like Link Logistics (Blackstone’s platform) and Stag Industrial. Today, he co-sponsors projects across the Midwest, leveraging his deep operational background and extensive brokerage network to source opportunities, raise capital, and manage assets. Gregg focuses on opening up industrial real estate investments to a wider network of investors who traditionally had little access to the sector.Episode Highlights and Chapters00:00 - Partnering with specialists and the importance of shared expertise01:34 - From institutional acquisitions to launching his own firm04:43 - What it means to be a co-sponsor on industrial deals06:15 - Why Gregg moved from multifamily and retail into industrial real estate08:00 - Inside Link Logistics and the explosion of industrial assets09:53 - Building projects on spec vs. build-to-suit in today’s market12:23 - How to evaluate industrial opportunities in new markets14:05 - Why information is gatekept and how to access it16:18 - Risks of relying on poor brokerage networks17:58 - Industrial vs. Multifamily: Risk, leases, and rent growth20:17 - How corporate leases differ from residential leases21:05 - The risks and benefits of leasing to massive tenants like Amazon22:27 - Challenges of GSA (government) leases in industrial properties24:06 - The evolution of lease structures in industrial real estate25:00 - Why Gregg prefers being on the sponsor side over being an LP25:47 - His most shocking real estate experience (hint: imitation crab meat)28:09 - Dealing with flaky sellers and institutional skepticism28:18 - The #1 mistake real estate investors make29:24 - Trust, relationships, and lessons from early setbacks30:54 - How Gregg essentially restarted from scratch and built his firm31:34 - Building deal flow and partnering with growth-minded sponsors33:17 - Advice Gregg would give his younger self about perseverance34:06 - Where to find and connect with GreggContact InformationConnect with Gregg Gruehl on LinkedIn: https://www.linkedin.com/in/gregggruehl/For more episodes and to connect with the host Eugene Gershman, visit: https://giscompanies.co/podcast/

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