Brian Whitmer
By Joshua Burd
A new conference series is taking shape with the help of Doors and Spaces Industrial, the Morristown-based firm cofounded by commercial real estate veteran Brian Whitmer.
The company, which focuses on the emerging small-bay industrial subsectorv, said it was participating in Small Bay Summit: Atlanta slated for March 18 in Georgia’s capital city. Whitmer will serve on the developer panel, Doors and Spaces said, noting that the program follows the inaugural Small Bay Summit: NYC held last fall.
Like the New York event, Small Bay Summit: Atlanta has sold out, drawing a crowd that will likely include the industry’s top owners, investors and capital markets and brokerage specialists focused on small-bay industrial.
“The incredible turnout for the first-ever Small Bay Summit in New York City confirmed what we already knew: This asset class represents the next pivotal opportunity for institutional investing in commercial real estate,” said Whitmer, who launched Doors and Spaces Industrial alongside cofounders and managing partners Jonathan Weinstein and Matthew Deitrick.
The firm, one of the summit’s founding organizers, said the event focuses on a category that typically consists of multitenant, light industrial facilities with units ranging from 1,000 to 5,000 square feet. The properties are often near dense population centers and primarily serve small to medium users such as contractors, ecommerce fulfillment centers, last-mile distribution services and professional services requiring accessible storage, offices and light assembly space.
That positions small-bay facilities as the essential economic backbone of local communities, Whitmer said, adding that they’re particularly attractive to investors due to their revenue durability and the upside of bringing professional management to a highly fragmented asset class. The Doors and Spaces team often refers to small-bay buildings as the “apartments of industrial” due to an incredibly diverse tenant base, insulating owners from single-tenant risk.
Furthermore, the barriers to entry for new construction are high, leading to exceptionally low vacancy rates and strong rent growth across all markets, according to a news release.
“This stability, coupled with the growing demand for localized logistics and storage space, makes small bay a compelling alternative investment for institutional and private capital,” Whitmer said.
Doors and Spaces Industrial, having helped launch the summit in New York, is now shaping the agenda for this week’s program. That underscores the need for sophisticated dialogue on the asset class, the firm said, from acquisition strategies and capital flows to tenant needs and operational complexities.
“The Small Bay Summit is a tremendous success because it brings together the specialized capital and operating expertise required to fully realize the potential of this asset niche,” Whitmer added. “We are proud to be part of this initiative and look forward to continuing the conversation as the SBI market continues its rapid evolution. The focus is shifting to essential industrial, and Doors and Spaces is at the forefront of the formation of the next institutionally recognized alternative asset type.”
