MJ Morris Joins the Self-Storage Business Development Team
MJ Morris, a native of Waco, TX, is driving ARCO/Murray’s self-storage expansion as the new Business Development Manager. Previously a project manager, MJ played a key role in leading the design and construction of over 1,000,000 square feet of self-storage facilities.
In his new role, MJ will focus on creating new business opportunities and strengthening client relationships, which are crucial, as 85% of ARCO/Murray’s revenue comes from repeat clients. He will collaborate closely with the project team to ensure seamless client satisfaction throughout the entire process, from the initial meeting to due diligence, design, construction, and occupancy.
MJ’s track record of completing projects on time and within budget, combined with his deep understanding of clients’ needs and the national self-storage market, has helped him build lasting relationships. His career has spanned all aspects of construction, and he is a strong advocate for the design-build approach, which provides clients with a comprehensive, turnkey solution.
MJ holds a Bachelor of Science in Mechanical Engineering from Baylor University and a Master of Science in Structural Engineering from Texas A&M. He is dedicated to continuous learning and improvement in all areas of life.
In light of today’s cost environment and decreased rental rates, MJ shares some key insights below on how to navigate industry challenges.
Can you explain the good, bad, and ugly as it relates to the self-storage market in today’s economy?
Self storage continues to reshape its reputation in the commercial real estate world, from a largely-alternative investment option into a bona fide primary asset class. This increased attention and capital in the space brings with it new opportunities and new competition, both of which are long-term tailwinds for the space.
How is the self-storage industry responding to the current cost environment and decreased rental rates?
The self-storage industry is facing increased challenges to make deals work due to costs that, while some softening has occurred, have not dropped at a level commensurate with current interest rates and declining rental rates. In response, we’re constantly working to re-evaluate our designs and seek creative buying solutions that offset rising costs to make sure we’re truly optimizing these facilities and projects remain viable.
How are developers designing their building differently in the face of increasingly stringent entitlement requirements?
Developers are adjusting their designs to meet increasingly strict entitlement requirements set by city planning boards, which often call for high-end façade finishes, additional amenities, and employee facilities. While we support clients who choose to challenge specific mandates, our primary strategy continues to be designing the “bones” and “guts” of the building to be as efficient as possible, allowing flexibility to absorb the added costs of these requirements.
How can self-storage developers benefit from increasing technology and green initiatives?
Being successful in this space means you have to be effective at processing & communicating information. The tools and technology available today to help facilitate this information transfer has never been better. ARCO continues to utilize both industry-leading software platforms, and build out our own in-house suite of proprietary tools to help us execute on our customers’ projects.
Additionally, developers can benefit greatly by incorporating green initiatives into their projects, and our in-house partner, AMPS, guides you through the process. By generating solar power, you can significantly reduce operational expenses, improve NOI, and increase property value. Additionally, with our extensive construction expertise and national network of suppliers, we design, procure, and engineer the best energy solutions for your business, including solar, combined heat & power (CHP), microgrid, battery storage, EV charging, and more. Meeting ESG targets and attracting a broader range of tenants who value sustainability is now more achievable and provides a competitive marketing edge for your facility.
Contact MJ to discuss partnering with ARCO/Murray on your next project.