ABOUT OUR COMPANY
We unlock strategic land opportunities and rapidly convert them into fully-entitled shovel-ready industrial developments that can power modern manufacturing, logistics, and technology.
Who We Are
Interstate Capital is a vertically-integrated private equity real estate development firm focused on reinvigorating mid-sized industrial cities across the Midwest with new manufacturing jobs and tax revenues.
Founded by Managing Partner Gregory R. Dilone, Jr., Interstate Capital is built on the conviction that overlooked cities like Kalamazoo, Battle Creek, Lansing, and Port Huron, Michigan offer some of the most compelling real estate investment opportunities in the country.
These mid-sized industrial cities present the perfect combination of affordability, infrastracure, political will, and labor availability. Where others see fragmentation, we see scalability, impact, and extradordinary value. country.
Differentiator
Unlike traditional real estate developers who rely on third parties for key project phases, we operate with complete in-house control. Our platform is powered by dedicated service companies that streamline execution and enhance results.
Land Entitlement Services—that’s civil engineering, survey management, zoning, and permitting.
Land Construct Services handle construction management, design-build execution, site prep, and vertical delivery.
Land Deal Services handle legal structuring, public incentives, tax abatements, and FTZ implementation.
Impact-Driven
Our work isn’t just about buildings—it’s about creating economic ecosystems for the next era of American manufacturing.
We serve cities that are often left out of national development pipelines, bringing jobs, tax base growth, and high-quality industrial capacity to communities ready to grow.
For investors, this means access to undervalued markets, accelerated returns through efficient execution, and alignment with the reshoring and logistics trends driving American industry forward. Interstate Capital is led by a deeply experienced team of professionals across real estate, finance, legal, engineering, construction, and technology.
From Local Roots to Regional Impact
Interstate Capital was born of a vision to do things differently in industrial real estate—starting not with megacities, but with the forgotten industrial corridors of the Midwest. Founded by Gregory R. Dilone, Jr., our company began as an evolution of Northeast Property Group—a small but determined development company focused on off-market industrial land in Michigan’s Greater Kalamazoo Area.
Our early belief was simple but contrarian: that Mid-Sized Industrial Cities held the future of American logistics and manufacturing. While most developers pursued crowded, high-cost urban markets, we went where others wouldn’t—into undervalued cities like Kalamazoo and Battle Creek—cities with land, infrastructure, and forward-thinking leadership.
Our vision started to take shape in 2019 with the creation of Northeast Property Group. We quickly gained momentum, forming key public-private partnerships, and secured our first major success: a 240,000-square-foot facility leased to Zoetis, a Fortune 500 firm, under the Industrial Partners USA joint venture with Clark Logic and Great Lakes Capital. This milestone validated our thesis and proved that institutional-quality industrial assets could thrive in overlooked locations like Battle Creek, Michigan.
Since then, Interstate Capital has entitled thousands of acres, delivered more than 2 million square feet of industrial space, created a pipeline of nearly 33 million square feet, and secured more than $200 million in construction loans and $60 million in public incentives. In 2024 we expanded our platform to include vertically-integrated service companies—Land Entitlement Services, Land Construct Services, and Land Deal Services—giving us total control of the development lifecycle and the ability to deliver projects faster and more efficiently than traditional models allow.
Our early wins weren’t without challenges. But they proved that grit, precision, and a disciplined investment thesis could unlock value in places others had ignored. Today, we are recognized as a leading developer of industrial land across the Midwest, with a rapidly growing pipeline of shovel-ready sites, a robust investor network, and a deep commitment to the communities we serve.
From one entrepreneur’s vision to a multi-state platform, Interstate Capital has stayed true to its founding mission: deliver institutional-quality outcomes in cities that deserve investment, and build the backbone of the next era of American manufacturing—one site at a time.
“A leader is one who knows the way,
goes the way, and shows the way.”
John C. Maxwell, The Leadership Handbook
Strategic Vision
Interstate Capital aims to be the premier resource for state prospects, international users, developers, and retail tenants seeking rapid entry to market via site-ready industrial spaces. By strategically targeting secondary and tertiary markets, we fill the gap left by urban infill development, offering significant cost efficiencies and accelerated timelines.
Our approach emphasizes agility, innovation, and operational excellence, enabling us to respond swiftly to market shifts, ensuring we remain ahead of emerging trends and positioned as the leading provider of entitled industrial sites.
Strategic Partners
Economic Partners
Education Partners
Experience the Interstate Capital Difference
Our strategic approach to industrial real estate investment is intentional, data-driven, and thoroughly integrated, delivering extraordinary results for our investors, tenants, and communities.