There's just one caveat: They must meet coverage ratios.

Also pricing in non-major metros is better than in the major cities.

Much more established hubs are experiencing slower growth rates.

Many are still making money but not as much as during the peak years.

So far construction starts have yet to be impacted by tightening financial conditions.

Atlanta was No. 1 in April, followed by Kansas City, Mo.

"It's likely the cap rate underwritten by the buyer was in the low-to-mid 5% range."

But it took them longer to reach this milestone than prior generations.