Multi-Housing News conducted an interview with Gary Wojtaszek, CEO and founder of RecNation, formerly known as Recreational Realty, about what makes the RV and boat storage Industry such a good investment. The company focuses exclusively on RV and boat storage facilities, with ownership of properties in Florida, Texas and Arizona, and plans for expansive growth.
Throughout the interview, Wojtaszek reiterated his faith in the business, especially in the current economic times following the pandemic. COVID-19 helped crystalize the opportunity for growth, because so many people realized that escaping to the outdoors not only allowed them to maintain safe-distance from the spread of infection; it appealed to their senses and spirituality, reminding them that our country is one of the most beautiful on earth. Vacations can be taken in National Parks through a camping experience, offering them greater personal rewards than jetting off to expensive resorts crawling with people.
Additionally, “more of the homes being built in this country are in highly restrictive communities that limit what residents can store at their own properties—which should continue to benefit our business long-term,” says Wojtaszek.
As more people seek comfort in a new home and because the “work from anywhere movement isn’t going away,” people are enjoying greater flexibility in their jobs and visiting parks or finding new ways to spend more time outdoors, he adds. This has led to record-breaking RV and boat sales, so the need for safe, secure storage continues to blossom.
RecNation expects to be “serial capital raisers” as it expands its nation-wide footprint. A $300 million credit facility provided “additional resources to really turbocharge our growth efforts,” he adds. The company recently acquired a facility in Phoenix, because, as Wojtaszek says, the area has close proximity to many natural parks and landscapes that draw outdoor enthusiasts. The company plans to continue expanding in the Southwest region as well as in Florida and Texas.
As far as what tenants demand most form toy storage facilities these days, Wojtaszek names security and convenience as the two foundational pillars, citing that electrical access has gained a lot of popularity.
Businesses will continue to perform well against the oncoming economic headwinds, he says, especially as inflation rises, because more people are choosing RV vacations as opposed to spending money on expensive plane tickets and hotels. Moreover, as the population continues to pinch pennies, people with expensive recreation vehicles will seek the best means to protect them, drawing them to quality RV and boat storage facilities.
To read the full interview, visit https://www.multihousingnews.com/what-makes-rv-boat-storage-a-great-investment/