Q1 2022 Indus Realty Trust Inc Earnings Call
Speaker 1: operor assistance.
Speaker 2: Your time in vance has been confirmed. Please stand by and you will be joined to the conference.
Speaker 1: Where and usees. redbull has put a major beverage manufacturing facility there, ball corp, to help supply that Red both facility but also the supply. The region then put a can manufacturing facility there. Most recently E Li lly announced the couple billion dollar investment in a armaceutical plant there. So I don't think a lot of that's resoring, other than maybe the furniture company, but it is to showing good manufacturing. Growth in the markets were in in terms of kind of you thinking longer term and supply and demand. I think GE to predict one that even out. I think it's kind of just a general macroeconomic question. I think e-commerce is going to continue to grow as a share of consumer spending. I think obviously after an unusual burst in 2000 and twent and 2000, 20: one retail, general bricks and moreort retail is by growing a little faster in 2020. 2000, 20: one is what the datashows. But it just seems e-commerce is going to continue to grow. I mentioned the Macy's investment, other things but again I think companies are going to continue to focus on their supply chains and supply chain efficiency and we think that continues to be a longer term tailwind and couple with some of the comments earlier about supply delay in constructction going to continuefor at leastthe next 12 to 18 months. It may normalize after that but I think it's going to still be a fairly slow development process. You used to be a couple years ago you could start a building, start the site. Work can be done in nine months. Today it takes you a year to get certain components to begin with. 'rereally? Looking at 12 to 15 months plus the front end is taking longer than mention permitted in entitlement time. So we still think the supply is going to be chasing. Supply is going to be slower to deliver than than than in the past. That will continue. So I think there's still a lot of really strong demand drivers out there. I think supply is going to continue to have struggle to meet that in the nearer term. I think you know it's difficult to predict what the overall economy will do but just general economic growth pushes industrial. Know housing continues to grow. That's going to drive industrial. So we think there's just many levers that will continue for an underlying demand. Whether you know 15, 20% rent growth is probably not sustainable for know five years in a row but it feels pretty good for the next cple quarters for sure.
Speaker 2: Thank you.
Speaker 2: Once again. If you'd like to ask a question, Please press sta number one the next question is a follow-up question from emanuel corttsman, from city. Please go ahead.
Speaker 3: umhey John , one for you just how much work have be done and where are you in the pro process of moving up the counting system? soallow you to report sort of closer to to the peer group here we are into this 't like the eighteenth week of earnings for ll- not that far, but were in the progress of getting the numbers out us. Thanks, man for the question. We we went live with the accounting system this quarter. So this this wasn't the quarter for us to to move things up, but we had. We had really good success from it and the team's pretty excited about moving earnings calls up a little bit. So hopefully we can. We can shorten that timeline for you: two Q or three Q.
Speaker 2: Thanks very much.
Speaker 2: And thank you, laden and gentlemen, with no more questions. This concludes in this willbby Trust 2022 first quarter earnings conference call. We thank you for joining us and enjoy your Wee. Take care.
Speaker 2: That.