Share AEBOV Grade
Share to email
Share to Facebook
Share to X
John Krulin and Rob Crigler know how to utilize industrial space for cannabis cultivation and manufacturing.
As the founders of High Grass Farms in Buena, NJ, the pair leaned on their experience in finance and healthcare to explore the medical cannabis market in NJ but quickly pivoted to recreational cultivation and manufacturing in South Jersey, where they sensed a great opportunity.
After securing a property and township approvals, Rob and John began building their team of experts to build out their facility, which features; metal panel grow rooms, custom HVAC/dehumidification solutions, 4"-12" insulation, 4,000 AMP's of electric service, LED lighting, and wastewater runoff systems to name a few.
Dealing with new hurdles on a daily basis such as challenges in securing basic business contracts, a buildout costing approximately $350 per square foot, and reporting duties to seven different agencies, the pair pressed on and is now closer than ever to being operational.
Anticipating a 3-5 year timeline of exponential growth in the NJ cannabis market, John and Rob are excited to share their story. They have even started a South Jersey cannabis networking group for other operators to build invaluable relationships.
In the latest episode of the podcast, and part 3/3 of our mini-series with Faropoint, I sat down with Adir Levitas, CEO of Faropoint.
Our conversation touched on Faropoint's start-up and growth chapters, how Adir defines success for the company, why leveraging failure is important, and so much more.
This is the final installment of a three-part mini series with Faropoint team members. I want to thank the company for sharing so much information with me over the course of the mini-series. It was a privilege to help share their team's insights with the industry.
Here are a few highlights from our conversation:
7:50 - Adir reminisces on Faropoint’s startup days and early growth
12:00 - Adir discusses why Faropoint’s culture, how their employees see the company, and the company’s reputation are the best benchmarks for success
16:55 - Adir and I speculate on why an even-keeled approached and diversification are critical to commercial real estate success
19:58 - Adir reveals how Faropoint addresses human bias when underwriting deals
29:20 - Adir gives an example of how the company leverages failures to improve operations
33:20 - Adir wants to change the way the industry quantifies risk and believes machine learning can help by diversifying portfolios
In this episode, Orry Michael and I delve into his career pivot from investment sales to acquisitions. We discussed what tools learned as a broker helped with his transition to private equity and what skills he still had to develop once he made the move to acquisitions.
Here are a few highlights from our conversation:
6:30 - Orry discusses the difference between representing clients and representing investors
9:45 - Orry outlines several of his keys to success in acquisitions
15:30 - Orry explains how shifting to the mindset of an owner and having the discipline to walk away from the wrong opportunity has exponential impacts
18:11 - Orry shares great insights on making the initial connection in a new business relationship
24:28 - Orry offers advice to anyone starting out in acquisitions on why underwriting a high volume of deals is so important
31:20 - Orry and I pay homage to our investment sales history, recounting the importance of calling owners of neighboring properties on every deal
36:10 - Orry gives a shoutout to a legendary broker and mentor, Vic Sozio
39:45 - Orry highlights the value of having the right mentors and teachers in the industry
In the podcast's first ever in-person recording, I sat down with Itay Ron, Senior Vice President of Northeast Markets at Faropoint. We delved into a number of topics, including Faropoint's early days and rapid growth, how owners and brokers should be thinking about data and artificial intelligence, and the short-term future outlook for industrial real estate. This is the first installment of a three-part mini series with Faropoint executives so keep listening to hear even more about the firm.
Here are a few highlights from our conversation:
3:40 - Itay explains why sale-leaseback deals are still prevalent in the market
11:00 - Itay details how exposure to many different aspects of real estate spurred the company's fast-paced growth
13:58 - Why clean data matters
19:58 - How can brokers utilize AI tools to improve operations and capabilities?
23:43 - We touch on how important a career reset can be, forcing us to learn from others and embrace new skills
28:41 - Industrial outlook over the next several years
In this episode, we delved into the "random walk" that led Adam Gordon to start Wildflower and grow it into one of NYC's most intrepid development firms. We contemplated how important it is for developers to go "all-in" when they believe they've uncovered a unique opportunity. We also touched on why aesthetics should now belong in any conversation on industrial development.
We learned about Wildflower's acquisition, development, stabilization, and $230 million disposition of arguably their most successful e-commerce deal, the Brooklyn Logistics Center. Additionally, we heard some insightful details about the firm's self-storage, studio, and EV projects and how they will be impacting their industries.
I had a lot of fun hosting this one and I hope you enjoy the episode!
In this episode, Bobby Little, Director of Digital Infrastructure at Landmark Dividend, explains all things digital infrastructure; data centers, cell towers, solar, and what smart cities are doing to stay competitive. If you've ever considered adding supplemental income to your rent roll through digital infrastructure, this will be a great listen. Keep liking and commenting please!
Brad Wright, CEO of the peer-to-peer warehouse share platform, Chunker, joined the podcast and offered a 101 on the short-term warehouse market. Hear how current trends, such as supply chain disruptions and vacant big-box retail are impacting short-term leasing, and how Chunker's data collection and processing will help identify emerging industrial sub-markets. Have a listen and please continue to share your feedback!
Tyng Patka is a Partner at Duval & Stachenfeld, where she also co-chairs the firm's NYC Climate Mobilization Act Task Force. In this episode, Tyng breaks down step-by-step actions that owners, operators, and investors should be taking to prepare for the new laws, including how to meet the July 1, 2021 deadline to adjust your building's emission limits. If you own industrial properties in NYC that consume increased amounts of power (hint: cold storage), you definitely want to tune in!
The podcast currently has 11 episodes available.