Iron Mountain Watching Tax, Privacy Issues in Congress

William Meaney, president and CEO of Iron Mountain Inc. (NYSE: IRM), joined REIT.com for a CEO Spotlight video interview at NAREIT's 2017 Washington Leadership Forum at The Hay-Adams.

Iron Mountain, a storage and information management services REIT, has a core customer list of 940 Fortune 1000-listed companies. Iron Mountain retains more than 98 percent of its tenant base per year, and the average length of customer storage is 15 years, according to Meaney.

Meaney said the company is keeping a close eye on tax reform developments on Capitol Hill to ensure there are “no unintended consequences.” He explained that with operations in 46 countries, Iron Mountain has repatriated $700 million in capital to the United States since the company converted to a REIT in 2012. Meaney noted that Iron Mountain wants legislators to understand the company is “committed to bringing capital back to the U.S. using the REIT structure.”

Another legislative issue that Iron Mountain follows closely is privacy, Meaney noted.

“Our relationship with customers is all about trust and security, and privacy is an important component of that,” he said.