Analysis

The vast majority of construction pros surveyed said they have been impacted by a lack of materials.

There are several cities benefiting from what the report calls "in-migration momentum."

Also, month-to-month leases have ticked up beyond 2020 levels for three consecutive months.

Secondary and smaller cities are more likely to be the focus instead of the major markets' suburbs.

Content creation is driving demand for high-quality production space, which is owned predominantly by five major studios.

Price elasticity of rents has declined as tenant shift focus to industrial locations near urban environments with access to population centers.

The average rental price in February was $3,791, a 3% decrease from January numbers and a decline of 13.5% year-over-year.

Many investors see self-storage as an opportunity for diversification.