Thank you Ben Butcher, CEO of STAG Industrial for joining our Morning Zoom.
- Mr. Butcher provided a quick overview of the STAG portfolio and shared that they focus on speed to market, optionality, and cashflow. They are a big believer in “boots on the ground” and augment their asset management efforts by hiring local and best-in-class property managers, as well as local brokers to lease their assets in all 38-states.
- He said that he’s extremely optimistic about the future of STAG, mentioning that they own assets equal to about 1.5% of their target market, and thus have a lot of room for growth. He added that moving forward, they believe that finding secured loans will be difficult, this will limit the participation of small buyers from most deals.
- STAG does not offer data storage nor cold storage. Their portfolio mostly caters to single-tenant supply chain companies, like Amazon. Mr. Butcher predicts a continued shortening and clogging of the supply chain as well as manufacturing coming back onshore – creating more of a need for logistical space generally.
- He reminded the attentive audience that in order to consider a facility for last-mile fulfillment, the building has to have the ability to receive the product from 18-wheel trucks.
- Ben stressed the importance of engaging employees via social causes and charitable organizations – a valuable part of developing the corporate culture.