We buy and hold small bay industrial and flex buildings.
Ironbay Industrial acquires and operates multi-tenant industrial and flex buildings of 8,000 to 30,000 square feet in Northwest Indiana, subdivided into units for small industrial, contractors, and service businesses.
We buy for our own account and hold for the long term. There is no fund behind us and no investment committee.
Acquisition criteria
- Type
- Multi-tenant industrial, flex, and small bay warehouse
- Size
- 8,000 – 30,000 SF; demisable preferred
- Markets
- Northwest Indiana — Lake and Porter Counties
- Site
- Excess land, fenced yard, or outdoor storage strongly preferred
- Condition
- Value-add welcome. Deferred maintenance, vacancy, and below-market rents are of interest.
- Structure
- Direct principal. Conventional financing. Seller financing considered.
- Not seeking
- Condominium interests, single-tenant net lease, or properties requiring environmental remediation.
Ironbay Industrial reviews off-market opportunities and responds promptly. Compelling value-add opportunities outside these counties will be considered.
Owner
Phil Nowak
My father came to America from Poland with almost nothing and built a window manufacturing business. I grew up in that factory — a decade of sales, service, marketing, assembly, and delivery. As a college kid I drove the 18-foot box trucks and the 24-foot flatbeds.
I spent enough time around the contractors and tradesmen who bought from us to learn what they need from a building. Easy loading. Three-phase power. Clear height. A yard they can lock. And a building they aren't embarrassed to bring a customer to.
Those are the tenants Ironbay Industrial buys buildings for — HVAC and electrical contractors, plumbers, small distributors, and a newer generation of ecommerce and niche service companies that need the same things.
I began my career in commercial real estate brokerage in Chicago, at Sheldon Good & Company and Marcus & Millichap, working the private-client investment market — the same deal size Ironbay Industrial targets today. I later started building my own portfolio and have owned and operated investment property since 2012.
Now it's my turn to build something generational. These buildings are bought to be held, not traded, and I intend my family to own them after me. Most of the people I buy from spent a working life building something too. That is the whole idea.
Leasing
We have no space available today. Units will be listed here as buildings are acquired.
To be notified when space becomes available, write to leasing@ironbayindustrial.com.