Ep. 84 - The Yard Sale: Turning Dirt into Industrial Outdoor Storage (IOS) Dollars…with Alex Bluth and Will Groves

So it's probably easier to show somebody photos of iOS than to try and describe it because as soon as you show somebody what iOS is, it's like, oh, okay, now I understand what you're talking about.

And, you know, there's certainly a couple of areas around town that you could point to where there's a good amount of it, South Phoenix being one, a bunch of it around Deer Valley Airport, which they're working very hard to...

Not eliminate, but work towards newer development.

Yeah, regulate and move towards newer development.

But everything from your contractor yard to equipment rentals and sales, any type of outdoor storage yard you can think of, whether it's contractor materials or a concrete batch plant, anything like that is going to end up in industrial outdoor storage.

I've

been doing this for 20 years.

And it's never been hotter than this time right now to pursue, secure, entitle, purchase, develop this industrial outdoor storage.

And in fact, I'm sort of wondering, I have some ideas, but I'm kind of curious within the group, like why is this such a trendy land use today in today's time versus in prior eras?

I've got a hypothesis, but I'm curious what the experts think of this.

And it's, You know, we're we're at a point in sort of the growth of the valley where land is just getting gobbled up.

And once vertical development occurs, once you actually put a physical structure on a site, it is no longer a viable site for industrial outdoor storage.

And so there's now more of a premium on those sites because there are fewer of them because land is just getting improved for actual development.

And once that happens, it's off the table pretty much forever for iOS.

That's a total guess on my part, but I'm curious what you guys

think.

Yeah, I mean, you said it.

It's been around for years.

It just is now becoming a sector.

In my opinion, the institutional money has found it.

You can't go and create more land.

You just can't.

You can always put up another building.

You know, tilt concrete can always put up a multi-tenant project, but you can't go replace these 10, 15,000 foot buildings on eight, seven, six, five, four acres.

Right.