Field Notes: A Glimpse into Industrial Asset Management with Bret Anderson

At BKM, our Regional Asset Managers play a critical role in executing our value-add strategy, identifying opportunities, and driving performance across every market we serve. In our latest edition of Field Notes, we're spotlight these experts behind our portfolio to share insights into the regional trends shaping today's multi-tenant light industrial landscape. We begin with Bret Anderson, Associate Director of Asset Management, who oversees BKM's Florida and Georgia portfolio. Bret shares why these markets continue to attract investment, what's driving tenant demand, and how BKM is creating long-term value through hands-on asset management.

Bret Anderson

📍 Orlando, FL

13 parks | 151 tenants | 1.5M SF

With BKM since September 2025

What is your name, title, and what markets do you work in? Can you briefly explain what you do?

B: My name is Bret Anderson, and I’m an Associate Director of Asset Management at BKM Capital Partners. I oversee assets across the Southeast, primarily in Florida and Georgia, where I focus on executing BKM’s business plans, driving leasing performance, managing capital projects, and optimizing overall asset value.

What make Orlando & Atlanta particularly well-suited for BKM's small- and mid-bay strategy?

Orlando

B: Orlando is a highly fragmented market with a deep base of small- and mid-sized businesses, which aligns well with BKM’s strategy. Within our portfolio, we have a multi-building industrial portfolio that was already performing well at acquisition but still offered opportunities to further optimize through targeted leasing and space reconfiguration. The ability to create and lease smaller, functional spaces is a key driver of value in this market.

Atlanta

B: Atlanta continues to be one of the most active industrial markets in the country, but what’s particularly compelling for BKM is the opportunity within the small- and mid-bay segment. We recently acquired a multi-asset portfolio in the market and are actively executing a repositioning and lease up strategy. With occupancy around the high-80% range at acquisition, there is meaningful runway to drive performance through hands-on asset management and leasing execution.

What are the primary demand drivers supporting leasing activity in Florida and Georgia? What industries have the largest presence here?

Orlando

B: Demand in Orlando is supported by strong population growth, in-migration, and a diverse economic base. While tourism is a major component of the economy, much of the industrial demand comes from service-oriented businesses, contractors, building services, and local distribution users. We are seeing consistent interest from these groups as they expand alongside the region’s growth.

Atlanta

B: Atlanta’s role as a major logistics and population hub drives consistent demand, but within our portfolio we’re seeing the strongest activity from local and regional users—contractors, light manufacturers, and service-oriented businesses. These tenants tend to prioritize functionality and location over scale, which aligns well with small-bay product.

What makes Florida and Atlanta such a difficult market for new entrants in the space? What are the barriers to entry?

Orlando

B: New supply of small-bay product remains limited, particularly in infill locations where land constraints, zoning restrictions, and rising construction costs make development challenging. Most new construction continues to focus on large-format distribution, which leaves a supply gap in the small-bay segment that our business plan aims to capture.

Atlanta

B: While Atlanta has seen a significant amount of new industrial development, the majority has been focused on large-format distribution space. Delivering small-bay product in infill locations remains challenging due to land costs, zoning constraints, and competing higher-density uses, which continues to limit new supply in our niche.

What demographic and employment trends do you see in Florida and Atlanta that drive investment in the region?

Orlando

B: Orlando continues to benefit from strong population and job growth, driven by migration from higher-cost markets and a steady influx of new residents. This growth is directly translating into demand from small- and mid-sized businesses that need space to support local operations.

Atlanta

B: Atlanta’s population and job growth continue to be strong, supported by corporate relocations and a diversified economy. This growth is translating into demand from small- and mid-sized businesses that need well-located industrial space to support their operations.

Are there any geographic advantages to this market? I.e. transportation corridor, coastal location, trade hub, etc.

Orlando

B: Orlando’s central location within Florida allows tenants to efficiently service the entire state. Its connectivity via major highways and proximity to key population centers make it an effective hub for both regional distribution and local service providers.

Atlanta

B: Atlanta’s connectivity is a major advantage, with access to key interstate corridors, rail infrastructure, and one of the busiest airports in the world. This makes it a critical hub for distribution across the Southeast, while still supporting a large base of local-serving businesses.

What are industrial tenants in this market prioritizing right now?

Orlando

B: Tenants are focused on functionality, affordability, and speed to occupancy. Within our portfolio, we are actively addressing upcoming lease rollover and creating smaller, more efficient suites through demising, which aligns with what tenants are looking for. Move-in ready space and minimal downtime are key priorities, particularly for service-oriented users.

Atlanta

B: Tenants are focused on move-in ready space, functional layouts, and proximity to labor and customers. We’re also seeing an emphasis on speed—tenants want to make decisions quickly and minimize downtime, particularly in a more competitive leasing environment.

What is one thing about this market that surprises people when they visit?

Orlando

B: While Orlando is widely associated with tourism, the strength and diversity of its small business economy—particularly within industrial users—is often underestimated and continues to be a major driver of demand.

Atlanta

B: Despite Atlanta’s reputation as a major logistics hub, a large portion of demand in the small-bay segment is driven by local businesses rather than national users, which creates a more durable and diversified tenant base.