Federal Blvd Business Center · 39.8497°N   105.0247°W · ALT 5,345 FT
Denver · Colorado Front Range · LIVE PORTFOLIO

Colorado's small‑bay industrial operator.

Acquire off‑market · Lease direct to tenant · Operate in‑house

Active offering View portfolio
Track record
15+
years operating
Small-bay
17
assets cycled
Square feet
1M+
transacted & operated
Current SF
192K
owned & operating
Business centers
4
currently owned
One offering · open to accredited capital
Off-market · North Denver metro

A live small-bay
industrial raise.

Strategy
Value-add
Hold
5‑year
Allocation
Limited availability
Request the OM
Accredited only · Full terms under NDA

~60,000 SF legacy ownership asset sale. Off-market acquisition at a very low basis in a supply-constrained infill corridor along the Front Range.

Colorado Front Range · Reg D 506(c)
The firm.
Section I
Mandate & method

We acquire under-managed, under-capitalized small-bay industrial parks along Colorado's Front Range. We create value through disciplined underwriting, hands-on operations, direct-to-tenant leasing, and adaptive repositioning.

Our capital is in every deal. Hands-on from close to exit, accountable at every level.

I.

Focused acquisitions.

One asset class. One state. Sub-$15M multi-tenant small-bay parks in Colorado submarkets we know street by street.

II.

Active ownership.

Every property gets a written business plan. Leasing, capex, and tenant relations run in-house. No third-parties, no outsourced accountability.

III.

Investor communications.

Quarterly letters, full rent rolls, variance against pro-forma, live investor dashboard. Our capital sits beside yours.

Sheridan Station Business Center — open-bay industrial unit, Arvada, Colorado
Sheridan Station Business Center Arvada, Colorado
Field file · 06 assets

Inside the portfolio.

Interior bay — high-clear warehouse with drive-in overhead door
01 · Live deal Live deal 60,000+ SF · interior bay
I-70 West Business Yards — multi-tenant small-bay industrial with IOS yard, Wheat Ridge, Colorado
02 · Wheat Ridge I-70 West Business Yards IOS yard · drive-in bays
Sheridan Station Business Center exterior, multi-unit small-bay industrial park, Arvada, Colorado
03 · Arvada Sheridan Station Business Center Micro bay · micro industrial warehouse units
Park West Business Center — small-bay industrial with cedar-clad entries, Lakewood, Colorado
04 · Lakewood Park West Business Center 1,750 SF micro-bays
Spring Hill Business Center multi-unit small-bay park, Aurora, Colorado
05 · Aurora Spring Hill Business Center Partnership · leasing + ops
Bayaud Business Center — small-bay industrial, Denver, Colorado
06 · Denver Bayaud Business Center Partnership · leasing + ops
Portfolio on the Front Range
See all assets
  1. Live deal
    Live deal
    North Denver metro · 60,000+ SF
  2. Operating
    I-70 West Business Yards
    Wheat Ridge · acquired Jan '26
  3. Operating
    Sheridan Station Business Center
    Arvada · acquired Feb '26
  4. Operating
    Park West Business Center
    Lakewood · acquired Aug '25
  5. Partnership
    Spring Hill Business Center
    Aurora · partnership since Mar '25
  6. Partnership
    Bayaud Business Center
    Denver · partnership since Apr '25
Copper Hill Brewing Co., a small-bay industrial tenant in Colorado

A vertically integrated
Colorado operator.

Established 2023. Principal-led. Singular focus on small-bay industrial across Colorado's Front Range. We do not manage from a distance, we do not outsource the work, and we do not invest in deals we would not run ourselves.

From the principal

A multi-billion-dollar asset class, hiding in plain sight. Highly fragmented ownership, under-managed, and irreplaceable.

What it actually takes
  • Seven years operating small-bay, full cycle.
  • Disciplined basis at entry.
  • Direct-to-tenant leasing on our own platform.
  • In-house operations: accounting, leasing, construction management, property management, triple-net reconciliations.
  • Customer-first structure for leasing, operations, and management. A B2C business, not a B2B landlord.
Why the gap only widens
  • Zoning has shut off new inventory.
  • Small business needs versatile space. Small-bay industrial attracts the widest array of tenants: retail, warehouse, industrial, and life science.
  • Our tenants are AI-proof. AI is creating more demand for our space, not less.
  • Institutional capital struggles to aggregate this asset class due to highly fragmented ownership.
  • Largest supply-demand gap in commercial real estate.

That gap is SAMG's entire mandate.

Nate Perry · Principal & Founder
SAMG principal shaking hands with a Foster Plumbing tenant inside a Colorado small-bay industrial unit
The market we work in

Small-bay industrial in Colorado is one of the largest, most fragmented, most mispriced asset classes in American commercial real estate. Almost all of it is owned by local landlords running rent rolls they have not updated in a decade. Institutional capital cannot deploy at this size. National platforms cannot source at this depth. The product is everywhere, and it is running meaningfully below its real value.

Demand is structural and permanent. Trades, contractors, fabricators, fleet operators, service-industrial businesses, and light assembly all need physical space, and small-bay is where they land. Supply is shrinking. Zoning, land cost, and replacement economics have effectively shut off new construction across the Front Range. The gap between tenant demand and buildable space widens every year. The product is irreplaceable.

We have spent seven years operating small-bay, full cycle. We buy at a disciplined basis. Leasing comes first, direct to tenant, on a platform we built for this one job. Property management, construction management, and accounting are all done in-house. Every asset gets the same treatment.

How we're built
  1. i
    Owner-operator

    Principal capital in every deal. The founder is personally involved in leasing, operations, and tenant relationships at every asset we own.

  2. ii
    Private syndicator

    Each acquisition is structured as a Reg D offering for accredited investors. We co-invest alongside our LPs and charge fees we have earned.

  3. iii
    Vertically integrated

    Acquisitions, leasing, operations, investor relations, and reporting all live under one roof. Accountability is undiluted.

  4. iv
    Technology-forward, AI-enhanced

    We have converted small-bay leasing from a broker-driven B2B process into a direct-to-tenant B2C funnel — the engine that lets us lease at a fraction of the industry's below-the-line cost.

What we stand for
01
Alignment

Our capital is in every deal. We do not charge fees we have not earned.

02
Transparency

Detailed rent rolls, financials, and plain-language updates. You own real estate — you should know what it is doing.

03
Discipline

We underwrite conservatively, pass on deals that do not pencil, and stress-test every exit before committing capital.

04
Execution

Deals close. Tenants get leased. Projects finish on time. We operate with urgency and hold ourselves to timelines.

Small-bay industrial warehouse interior with forklift, pallet racking, and tenant operations, Denver metro

The most resilient
commercial asset class.

Resilient cash flows. Durable in every cycle. Trading at a discount to replacement cost. Owned by a highly fragmented base of passive, local landlords. And sitting on top of the largest supply–demand gap in American commercial real estate.

100x
Tenant demand for sub-2,000 SF units. Roughly 4% of industrial vacancy.
6.3%
Share of Denver metro land zoned industrial.
$15+
Market rent PSF NNN · sub-2,000 SF.
3–15%
Rent as % of tenant revenue. Smallest ratio in commercial real estate.
Who owns small-bay

76% independently owned. Almost none of it institutionally managed.

Unlike bulk distribution, where a handful of REITs and mega-funds control the stack, small-bay is dominated by individuals and owner-operators with limited ability or interest in driving rents. Local landlords, family holdings, estate situations. Rent rolls set a decade ago and never updated. Modified-gross leases that haven't been re-papered in generations.

This is not distress. It's undermanagement at scale. Our mandate is to aggregate quality small-bay parks from a decentralized ownership base and run them with the discipline institutional capital expects — on assets institutional capital is too large to touch.

76%
Independent ownership share
4B SF
National small-bay inventory
Tenant mix

30+ sectors. No single tenant exceeds 7%.

Small-bay parks house the businesses that actually run a city — construction, engineering, automotive, medical, light manufacturing, last-mile logistics, food, retail, fitness, trades. No single industry exposure drives the rent roll. No single tenant can take the property down. Diversification is structural, not engineered.

Because these businesses are geographically tied to the neighborhoods they serve, they don't move far for lower rent. Average tenure across our target portfolio profile runs 8+ years on a weighted-average basis.

7%
Max single-tenant exposure
8yr
Weighted avg tenant tenure
01Engineering14%
02Automotive13%
03Construction12%
04Business services12%
05Health & fitness11%
06Home furnishing9%
07Food & beverage5%
08Household services4%
09Mining & energy4%
10Retail3%
11Electronics3%
12Education3%
13Technology3%
14Other & specialty4%
Rent growth · small-bay vs. peer asset classes

Cumulative rent growth since 2019, indexed to 100. Small-bay industrial has compounded faster than every peer asset class and every public-equity benchmark — driven by short lease terms, annual escalations, and a supply-constrained footprint.

  • Small-bay industrial+68%
  • Bulk distribution+42%
  • Multifamily+31%
  • Office (CBD)−12%
  • Retail strip+18%
Source · CoStar, NCREIF, SAMG underwriting · Denver MSA · Q4 2018 – Q1 2026
Acquisition criteria · term sheet
01Price range$2,000,000 — $15,000,000
02Gross size10,000 — 100,000 SF
03Bay size800 — 8,000 SF / unit
04TenancyMulti-tenant preferred
05Occupancy at close60%+  (vacancy = upside)
06Clear height12' minimum · 18' preferred
07LoadingGrade-level doors required
08Lease structureNNN preferred · mod-gross convertible acceptable
09DSCR target1.25x minimum at stabilization
10Hold period5 — 10 years · opportunistic refi / recap
Target geography

Colorado
Front Range.

We do not chase deals in markets we do not know. Colorado's Front Range — from Fort Collins south through Pueblo, anchored by the Denver MSA — is our entire universe. We know it submarket by submarket: the I-70 corridor, Jefferson County nodes, Adams County, Northern Colorado. High tenant demand, restrictive zoning, effectively no new supply.

Bring us a deal
Active submarkets
  • 01Arvada
  • 02Wheat Ridge
  • 03Lakewood
  • 04Federal Heights
  • 05Westminster
  • 06Thornton
  • 07Commerce City
  • 08Golden
  • 09Broomfield
  • 10Northglenn
  • 11Loveland / Fort Collins
  • 12Colorado Springs

A repeatable
value-creation cycle.
Tech-driven execution.

Every acquisition runs through the same five-stage operating plan. Sourcing through stabilization through exit. And every lease runs through our direct-to-tenant digital pipeline. The playbook does not change. Only the property does.

AThe process BThe technology
Direct-to-tenant leasing platform
LeaseSmallSpace.com homepage — Find your perfect small space in Colorado
— The execution

Same execution. Every deal.

Stage

Source

  • Direct owner outreach across target submarkets.
  • 15+ years of Colorado broker relationships.
  • Proprietary Front Range owner database.
Stage

Underwrite

  • Downside, base, upside cases modeled.
  • DSCR ≥1.25× base, ≥1.0× downside.
  • Rents defended with comps, not assumptions.
Stage

Acquire

  • 60% LTV · 12-month IO.
  • Principal capital in every deal.
  • 30–45 day close. Faster when it counts.
Stage

Stabilize

  • NNN conversion · CAM true-up · 10–15% NOI lift.
  • Direct-to-tenant leasing · 30–60 day cycle.
  • Targeted capex: roof, HVAC, paint, signage.
Stage

Exit

  • Year-3 refi modeled at underwrite.
  • Institutional-partner recap option at scale.
  • Sell at a significant premium to purchase price.
— Stabilization detail
Pre-close

Lease while under contract.

Take over leasing during due diligence. Mark several in-place leases to market before closing so day-one NOI lift is captured from the moment we hold title.

Decision ownerPrincipal
Typical duration30–60 days
Key artifactNew rent roll at close
Cumulative NOI lift vs. day one
+4%
Rent roll status
2 leases marked before close
01
Pre-lease
02
Platform migration
03
Convert to NNN
04
Mark to market
05
Sale

Technology-forward.
Direct-to-tenant leasing.

Small-bay leasing has always been a B2B process. Tenant hires broker, broker calls listing agent, LOIs negotiate through email. We converted it into a B2C funnel. Tenants find us, tour, apply, and sign directly through our digital pipeline. The single biggest structural edge in the business.

How we lease
Legacy · B2B
30–90 days
Broker-led lease cycle
SAMG · B2C
<10 days
Direct platform · signed lease
Below-the-line
~1/10×
Leasing cost vs. broker comp
A

Direct-to-tenant marketing & capture

Per-property landing pages, paid search, and SEO. Every tenant inquiry lands in our CRM, not a broker's.

B

AI-enhanced leasing pipeline

LLM-assisted triage handles first-touch in minutes. A human closes. No lead falls through the cracks.

C

Below-the-line cost advantage

Broker commissions collapse. TI stays small. More of every rent dollar reaches NOI.

D

Transparency as a feature

Interactive investor dashboards with live information. Quarterly reporting. Sponsor access and accounting all run in-house.

Leasing economics · the real edge

Small-bay works when below-the-line cost is controlled.

~10×
Leasing cost efficiency vs. broker comp
<10d
Inquiry to signed lease
<3mo
Break-even on TI + LC
85%
Direct-to-tenant lead share
Vertical integration

Everything under one roof.

Acquisitions, underwriting, debt placement, investor relations, property management, leasing, construction supervision, and reporting all happen in-house. Nothing is outsourced to a third party that does not have skin in the deal. Accountability is undiluted, feedback loops are fast, and the cost structure stays lean enough to make small-bay economics work.

  • Acquisitions & underwriting
  • Capital raise & investor relations
  • Debt placement & capital structure
  • Property management & operations
  • Leasing & tenant relations
  • Construction & capex supervision
  • Accounting, reporting & compliance
Small-bay industrial, Denver metro

Six assets.
Six submarkets.

Each one acquired because the real estate was right, the basis made sense, and the upside was real. All operated in-house.

The portfolio Six assets · Four submarkets · Colorado Front Range

The portfolio.

Assets 06
Recent execution Last 12 months · Small-bay industrial · Denver metro · April 2026

Recent execution · last three deals.

Avg rent growth · last 3
+63%
Weighted, since closing
Rent rolls · at close vs. today
Request information

Private equity
in the things you can touch.

Accredited investors partner with SAMG on small-bay industrial acquisitions along the Colorado Front Range. LP preferred returns. Quarterly distributions. Principal co-invests in every deal. One available sub-2K SF unit exists across all of Jefferson County. Small-bay is 4 to 10% of available industrial supply.

Live deal · open to accredited capital

North Metro Denver.

Colorado Front Range · ~60,000 SF · Off-market
Min check
$100,000
LP pref
8%
Target LP IRR
High-20s
Hold
3-year min
Distributions
Quarterly
Structure
Reg D 506(c)
Sponsor co-invest
Yes
Request OM

Not an offer to sell securities. Offering made only to verified accredited investors under Reg D 506(c) via the confidential PPM.

What partnership with SAMG looks like
  1. 01
    Introduction

    A direct conversation with the principal. We confirm accredited status, discuss fit, and share the offering materials under NDA.

  2. 02
    Diligence

    Full OM, rent roll, financial model, market comps, debt term sheet, and capital improvement plan. Underwriting you can re-perform.

  3. 03
    Subscription

    Execute subscription documents. Fund the capital call. All accredited-investor verification handled through a licensed third-party service.

  4. 04
    Ownership

    Quarterly LP letter with financials and variance to plan. Annual K-1. Direct principal access for questions. Distributions on schedule.

Common questions

One principal.
Every deal.

Acquisitions, underwriting, capital structure, leasing, and investor relations all run through one desk. No layers. No hand-offs. My capital is in every deal.

No intake forms.
No gatekeepers.

Investor, tenant, broker, or have a deal to share. Reach out directly to the right person.

Direct lines
Headquarters
39°44'21"N   104°59'05"W
HQDenver Metropolitan Area, Colorado
MarketDenver MSA — Jefferson, Adams & Denver Counties
AssetsArvada · Wheat Ridge · Lakewood · Federal Heights
MeetingsOn-site at any SAMG asset, or remote
How can we help