"The Midwest might not experience the highest rent increases, but the relative availability of developable land in these markets – and large populations to boot – make these markets ripe for development," says Ortiz, highlighting Detroit, Memphis, Chicago and Denver as markets achieving some of the largest inventory increases due to new supply.

The industrial sector gets an A+ for activity driven mainly by access, but alternatives, whether because of supply chain reconfiguration or simply reaction to the high demand gateway markets, are also key. As a result, Portland has seen substantial growth in industrial occupancy with a robust 8.9 million square feet of product in its pipeline, according to the Colliers report.

"The lack of available space in other West Coast port markets, like the Inland Empire where the vacancy rate is particularly low, is driving tenants to nearby cities with seaport access, a good transportation network and population growth," says Ortiz. "Demand has remained strong throughout the industrial sector, but secondary markets have seen unprecedented growth. Record-low vacancies and industrial space demand in core markets, created largely by e-commerce, have driven occupiers into new locations."

Markets near the Port of New York/New Jersey have stood to benefit from supply chain reconfigurations with some shippers rerouting product to less congested options, Ortiz adds. However, redirecting these shipments has begun to cause interruptions at other East Coast ports and increasing transportation costs.

Overall, expect another record year of industrial deliveries, Ortiz forecasts. Despite economic uncertainty and remaining supply chain kinks, the markets that move America continue to make all the right moves.