Last month at the ISS World Expo, we had an enlightening conversation with Tyler Jones from Arco Murray, about the most active markets and other insightful details.
James: I mean, thank you for having this conversation with me. Like, as a whole, we're seeing a huge slowdown of acquisitions volume because of the federal rate hikes. And I was just wondering if you were seeing something similar on the construction side or what were your thoughts on, you know, development slowing down or not slowing down in the self-storage industry?
Tyler: Yeah, James, you know, our team is busier than ever, admittedly. You know, I think that's because people that are really institutionally backed, which is, you know, most of our customer base is still really strong appetite for development. You know, yes, probably the, you know, lesser backed groups, probably less development coming out of those. But I think the people that have the institutional backing are still hungry to get things done.
James: Great, thank you. Are you seeing this mostly in primary markets or tertiary, rural, underdeveloped markets? Where are you seeing most of this activity?
Tyler: Yeah, I think the sure bet is still the urban infill primary markets. You know, I think that and happen to know that there's less appetite in the tertiary markets these days. There's just a little bit more risk there and people are more inclined to take the sure thing.
James: I mean, that makes perfect sense to me. Thank you for your time. Thank you for these insights and enjoy the rest of the show.
