Residents often prefer to stay in their home regions versus moving to another part of the country.

E-commerce driving need for this niche asset class that represents less than 1% of US industrial facilities.

But the sector is also facing "its first period of uncertainty" in 2024.

Being near a college town certainly helps, according to RealPage.

NIC reported that 2023 ends with a 2.4 percentage point annual increase.

Northmarq cites difficulty in obtaining capital for new projects as one reason.

Meanwhile rents will continue to climb.

Resiliency, falling interest rates, and "dry powder" are reasons given.