Development Team
John Low joins as Principal, Development
The company expands beyond acquiring and repositioning industrial properties into ground-up development. John and the VLR Capital Partners team bring roughly six decades of collective experience.
Specific Focus
Alongside our acquisition strategy for existing industrial assets, VLR pursues ground-up industrial development. We evaluate opportunities on site, market, entitlement, and project-specific considerations, along two paths:
❯ Raw land: Source land and obtain entitlements, including rezoning or annexation where the economics support it.
❯ Entitled land: Buy land entitled or shovel-ready for industrial use and advance it to construction.
Each approach requires careful evaluation of location, utilities and infrastructure, municipal approvals, construction costs, and prospective tenant demand—particularly in a higher-rate environment.
Site Criteria
SITE SPECIFICITY
- ❯ Preferably 8+ acres; down to 5 acres in infill
- ❯ Industrial / light-industrial zoning preferred; rezoning or annexation when basis supports
- ❯ Entitled or shovel-ready preferred; raw land when entitlement risk is underwritable
- ❯ Prefer IOS and secured yards allowed
- ❯ Wet utilities at/near site; electric, storm, fire flow sized for multi-tenant
- ❯ Arterial or freeway-adjacent truck access
PRODUCT SPECIFICITY
- ❯ Infill, low-finish, multi-tenant shallow- and mid-bay (not speculative big-box)
- ❯ Projects 75,000–500,000 SF, phased where appropriate
- ❯ Units 20,000–50,000 SF
- ❯ 24–32 ft clear, scaled to unit size
- ❯ Secured yards where zoning and layout allow
LOCATION SPECIFICITY
- ❯ Phoenix, AZ
- ❯ Denver, CO
- ❯ Las Vegas, NV
- ❯ Reno, NV
- ❯ Salt Lake City, UT
- ❯ Orange County, CA
- ❯ Inland Empire, CA
- ❯ San Diego, CA
TENANT SPECIFICITY
- ❯ Service commercial and contractors
- ❯ Last-mile distributors and regional service firms
- ❯ Light / local manufacturers and assembly
- ❯ Technology and advanced-manufacturing suppliers
- ❯ Data center suppliers
- ❯ Courier services; cold storage
- ❯ Growth tenants expanding within the park
RISK SPECIFICITY
- ❯ Infill locations with supply and location advantage
- ❯ Avoid competing with the bulk-distribution pipeline
- ❯ Micro-location tenant demand before commit
- ❯ Entitlement risk (rezoning/annexation) when path and timeline are underwritable
Targeted Submarkets
The submarkets below are where we see the strongest fit for shallow- and mid-bay development today. They are a guide, not a limit—we welcome site submissions from brokers and landowners across our primary markets, including locations not listed here.
Phoenix, AZ: Deer Valley / Pinnacle Peak; Chandler; Scottsdale Airpark
Las Vegas, NV: Southwest; Airport (redevelopment); Central (infill / redevelopment); North Las Vegas (mid bay, selective); Henderson
Reno, NV: Central / Airport; South Reno; Sparks / Spanish Springs
Salt Lake City, UT: South Valley (Draper / Bluffdale / Sandy); South Salt Lake / Murray; Davis County; West Valley / Central West (selective)
Denver, CO: Southwest; West; South Central; Southeast / Douglas County (selective)
Orange County, CA: Airport Area (Santa Ana / Costa Mesa); Tustin; West County; North County small bay; South County
Inland Empire, CA: Ontario; Colton / Grand Terrace; Montclair / Upland; Corona / Norco
San Diego, CA: East County; I-15 Corridor; Kearny Mesa; Oceanside / Escondido; Carlsbad