Partnership positions Portal Warehousing to accelerate national platform expansion

Portal Warehousing (Portal), a leading, vertically integrated micro-bay industrial platform, together with GCM Grosvenor (Nasdaq: GCMG), a global alternative asset management solutions provider with $91 billion of assets under management, has established a long term strategic partnership to acquire value-add industrial properties and provide flexible, small-scale industrial space to a structurally undersupplied segment of the market. The partnership marks the next phase of Portal’s growth, providing institutional backing to scale nationwide. As part of the partnership, GCM Grosvenor will join Portal’s Board of Directors.

The venture will focus on acquiring value-add, infill industrial properties across key logistics hubs that can be repositioned into right-sized, turnkey warehouse suites designed for the operational needs of small and mid-sized businesses (SMBs), e-commerce operators, and enterprise users. Portal’s approach bridges the gap between traditional industrial real estate and modern business needs, enabling companies to enter new markets quickly without long-term leases or major buildouts and capital expenditures. Unlike traditional industrial space, the model is built around short-term license agreements, all-inclusive pricing, and embedded logistics support, giving tenants flexible terms, predictable costs, and move-in-ready space. Portal currently owns and/or operates over 286,000 square feet, comprising more than 300 warehouse suites across six markets, with additional locations under development, demonstrating the scalability and effectiveness of its micro-bay model.

Micro-bay industrial, defined as warehouse space under 5,000 SF, sits below the typical size range of small-bay industrial (5,000-10,000+ SF) and addresses a structural supply-and-demand imbalance in the market. Small-space users are chronically underserved, with national vacancy for industrial space under 5,000 SF at just 4.4%. Meanwhile, the continued rise of e-commerce, onshoring of supply chains, and expansion of the small business economy are intensifying demand for infill logistics space. Portal focuses on the smallest end of the micro-bay segment, offering warehouse suites ranging from 200-2,500 SF.

“We're excited to partner with GCM Grosvenor to support the next phase of our growth. This partnership validates that micro-bay industrial is a distinct, institutionally investable asset class within industrial real estate. With GCM Grosvenor's backing, we can scale our platform nationwide and establish Portal as a category leader,” said Alex Morrison, CEO of Portal Warehousing.

"We’re thrilled to partner with Portal Warehousing to accelerate the national growth of the platform. There is a clear and persistent gap in the industrial market for high-quality, small-format space, and Portal has built a platform designed to address that need through deep market expertise, a data-driven understanding of demand, and strong execution capabilities," said Danielle Even, Executive Director at GCM Grosvenor.

About Portal Warehousing

Portal Warehousing is a leading owner and operator of flexible small warehousing solutions, providing small businesses, entrepreneurs, and enterprise organizations with move-in-ready space to scale their business. Warehouse suites range in size from 200-2,500 SF and include critical logistics infrastructure like dock-high and grade-level door access, all-inclusive utilities and Wi-Fi, and embedded logistics services. Portal Warehousing is vertically integrated with in-house acquisitions, construction, marketing, leasing, finance, property management, and operations. For more information, visit www.join-portal.com.

About GCM Grosvenor

GCM Grosvenor (Nasdaq: GCMG) is a global alternative asset management solutions provider with approximately $91 billion in assets under management across private equity, infrastructure, real estate, credit, and absolute return investment strategies. The firm has specialized in alternatives for more than 50 years and is dedicated to delivering value for clients by leveraging its cross-asset class and flexible investment platform.

GCM Grosvenor’s experienced team of approximately 550 professionals serves a global client base of institutional and individual investors. The firm is headquartered in Chicago, with offices in New York, Toronto, London, Frankfurt, Tokyo, Hong Kong, Seoul, and Sydney. For more information, visit: www.gcmgrosvenor.com.

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“We're excited to partner with GCM Grosvenor to support the next phase of our growth. This partnership validates that micro-bay industrial is a distinct, institutionally investable asset class within industrial real estate." - Alex Morrison, CEO, Portal