From his inspiration to start IOS List to providing the trucking and real estate industries top news in the Industrial Outdoor Storage market, Matt speaks his mind on this market.

July 2, 2024

Who are you and what is your title?

Matt Hunsucker, Founder of IOSList (https://ioslist.com) and principal at a family office real estate firm called Mackenan.

What inspired you to start IOSList?

In 2022, we were searching for industrial land around Raleigh that was suitable for flex development. A few of the parcels we found didn’t have sewer capacity for full vertical development, but they were otherwise well-located sites in the path of growth. I heard about industrial outdoor storage as an alternate use, but I was surprised at how little information was available. As I dug in, I realized that the IOS space was attracting major institutional capital, but there was no centralized data source or media. I started IOSList to be the “front page” of the industry.

What type of content can readers expect to see on your platform or newsletters?

We are the #1 news and data source for IOS professionals. We cover IOS transactions (sales and leases), joint-ventures, fundraising, people moves, and related industry and economic news. We also have a research team focused 24/7 on uncovering IOS sales, comps, and rent comps. This proprietary data will be the backbone of our service in the future.

What is the outlook for the IOS market today and 2025 and beyond?

Overall, rents in the IOS market have pulled back slightly after a huge run-up during COVID and the related e-commerce boom. Apart from moderating rents, there is still tremendous demand nationwide. The scarcity of heavy industrial zoning that allows for outdoor storage uses is THE underlying thesis of the asset class. This image sums it up:

How can IOS help alleviate the truck parking shortage?

The truck parking shortage is real and very scary for our nation’s truck drivers and carriers. IOS is the only answer. We’ve all seen the stats – there are 11 trucks for every available parking space, drivers spend close to an hour each day searching for parking, etc. The IOS industry is starting to respond, with several managed truck parking companies rapidly expanding. But, they can’t expand without continued cooperation and assistance from local governments.

What is the greatest challenge the industry is facing?

NIMBY policies. Everyone wants their packages to arrive in 24 hours, but nobody wants to approve new in-fill truck parking to enable it. Every local government needs to add IOS and truck parking to their future land use plans and back it up with reasonable building codes and swift permit approval times. High development and land costs are also making it tough to deliver new truck parking in a cost-effective manner.

What are some common misconceptions about the industry, especially relating to truck parking? How do you deal with them?

Truck parking doesn’t have to be ugly. As the industry matures, logistics and real estate experts continue to improve the curb appeal and amenities of truck parking facilities. I think we’ll see high-quality truck parking facilities pop up nationwide. Freight Ninja is on the forefront of that expansion, and it is desperately needed.

What does the typical day look like?

Up early to make breakfast for my two young boys. In the office around 8:30, and then I try to squeeze in a workout or a walk during lunch. The day is spent analyzing acquisitions and discussing deal structures and portfolio management at Mackenan. Home around 5 to play and eat dinner with the family. After the kids are in bed, I’ll sit down to edit the upcoming newsletters and manage our editorial/research team.

What hobbies do you have or how does life outside of work look like?

Most of my free time is spent with youth sports and family fun on the weekends. I’ll occasionally play golf when I can find the time. Ski a few times a year, and travel with the family as much as possible. We’re taking the kids to Disney for their first time this October, so wish me luck!