Acquisitions

Acquisition Criteria

WREN Capital is compiling a $200 million portfolio of small-bay, single-tenant industrial and industrial outdoor storage (IOS) assets in Phoenix. 

Present prospective opportunities for evaluation and consideration to
Michael Roberts.

Asset Profile
  • Small Bay Industrial assets serving manufacturing, distribution, construction, logistics, e-commerce and data center expansion.
  •  Industrial Outdoor Storage properties including contractor yards, trailer parking, bulk material storage, fleet parking and equipment rental.
  • Smaller deal sizes often overlooked by institutional capital. 
  • Diversified tenant base across industries supports portfolio resilience through market cycles.
Investment Strategy
  • Sale-Leasebacks: Partner directly with owner-users to originate off-market transactions.
  • Stabilized Assets: Acquire cash-flowing properties with limited near-term capital requirements.
  • Mark-to-Market: Capture upside through renewals or re-leasing at market rates.
  • Value-Add: Improve functionality through targeted capital improvements.
  • Off-Market Sourcing: Leverage relationships to access proprietary opportunities.
Lease Characteristics
  • Primarily single tenant with NNN lease structures.
  • Mix of stabilized and near-term lease rollover opportunities.
  • Long-term leases.
Acquisition Parameters
  • 6-7% target acquisition cap rates.
  • $3M-$25M+ acquisition price per asset.
  • Less than 100k SF; functional yard or IOS component.
Phoenix Market Focus
  • Infill locations within proven industrial corridors. 
  • Proximity to major freeways, logistics infrastructure and labor pools.
  • Access to rail, intermodal facilities and last-mile distribution networks.
Download WREN's Acquisition Criteria

Marc is an experienced commercial real estate professional with more than 30 years of experience and a proven track record across operations, acquisitions, financing, leasing, development, and asset management. Over the course of his career, he has been involved in more than $10B in transactions spanning industrial, office, retail, multifamily, healthcare, and mixed-use assets. He is widely recognized for his ability to navigate complex situations and deliver strong outcomes through thoughtful problem-solving, clear communication and disciplined execution.

At WREN, Marc leads our operational strategy, oversees asset management and portfolio performance, partners closely with our CFO on budgeting and forecasting, supports acquisition analysis, and drives compliance and risk management initiatives. Prior to joining WREN, he held leadership roles at SimonCRE, Helix Properties, Opus West, and NorthMarq Capital. Marc earned his B.S. in Finance from Arizona State University.

Linkedin
Marc on LinkedIn

Michael is an Arizona native with nearly 10 years of experience in the commercial real estate industry. Most recently, Michael spent five years with JDM Partners where he was responsible for all new acquisitions, financing, leasing, asset management, and disposition of assets exceeding 10 million SF and valued at +/-$3 billion in 40+ office, industrial, residential, hospitality and data center properties nationwide. Prior to his time at JDM, Michael also worked for Ryan Companies and Lincoln Properties as well as VEREIT, where he assisted in the underwriting and leasing of net-leased office, industrial and retail properties. Michael is a graduate of Arizona State University with Bachelor’s degree in Finance, a minor in Real Estate and a Master’s in Real Estate Development.

Linkedin

Michael on LinkedIn

Jeff is an accomplished commercial real estate professional with more than 30 years of experience across development, investment, asset management and leasing for industrial, office, retail, multifamily and hospitality projects. He has held leadership positions with multiple Opus regional operating companies, Salt River Devco and most recently with ASU University Realty where he served as Chief Operating Officer and Managing Director. During his career, he has had development responsibilities for over 40 projects exceeding 6 million square feet, oversaw asset management for more than 3 million SF, and has been directly responsible for over 6 million SF of new leases and renewals. During his career, Jeff has established strong relationships with brokers, institutions, owners and managers in Phoenix and across the Southwest. Additionally, he has used his expertise and deal acumen to craft dozens of real estate joint ventures to the benefit of all parties involved. Jeff holds a Bachelor of Science degree in Real Estate from Arizona State University and is a licensed real estate broker in Arizona.

Linkedin

Jeff on LinkedIn

Linkedin

Kevin on LinkedIn

Kevin has over 30 years of commercial real estate industry experience. Prior to joining WREN Capital, Mr. Allen served as Chief Financial Officer for Wentworth Property Company, where he helped drive all segments of accounting, tax and finance, spanning office, industrial, self-storage and build-for-rent. At Discovery Land Company, a luxury residential private club developer, Kevin oversaw projects in Mexico, Hawaii and throughout North America. Additionally, he held financial and accounting leadership roles for Frank Residential, Opus West Corporation and SunCor Development Company, all located in Phoenix, AZ. He attended Purdue University and received his B.S. in Accountancy from Radford University. Kevin is a licensed CPA in the State of Arizona and member of the Arizona Society of CPAs.

Tom is a senior real Estate executive and board director with over 30 years of commercial real estate experience. As President/CEO of Opus West Corporation he was responsible for the development, design and construction of over 50 million SF of office, industrial, retail, and multi-family apartment and condominium projects totaling over $8 billion. As Chief Investment Officer of VEREIT (NYSE:VER), formerly Cole Real Estate Investments (NYSE:COLE), he was responsible for all real estate investment activities totaling over 125 million SF of office, industrial and retail properties, as well as joint ventures, valued at more than $32 billion. Tom received the 2012 Lifetime Achievement Award from the National Association of Industrial and Office Properties (NAIOP) and Opus West was named NAIOP Phoenix Chapter Developer of the Year 13 times. He has served as a board member for numerous real estate industry and charitable organizations over the years. Tom received his Bachelor of Science in Business Administration & Finance with a specialization in Real Estate from Arizona State University.

Linkedin

Tom on LinkedIn