The self storage industry has seen robust growth throughout the country over the last decade. There are markets where the supply of self storage has met the demand. Other markets have a lack of supply which is where we like to build new ground up class A facilities. In order for us to build a new facility, the market has to meet a rigorous review before we commit to a new ground up project. There are also many value add opportunities throughout the country where an existing facility has additional property to add to an undersupplied market. Boat, RV, climate and non climate or a combination of these types of self storage are our target.
We are also heavily involved in technology. While building quality Class A properties is our focus, our sustainability and execution comes from utilizing technology to occupy our quality facilities. Technology is also key to the site selection process, ongoing point and click market capture, as well as creating/maintaining a solid local brand.