Zoning attrition, rising land values, and infill redevelopment continue to shrink the usable IOS inventory in nearly every major logistics market.
Industrial outdoor storage is one of the few real estate categories where new supply is effectively negative. Municipalities rarely entitle new outdoor storage use, and existing yards are steadily redeveloped into higher-density industrial or residential product.
Meanwhile, demand drivers have compounded: last-mile logistics, infrastructure spending, utility grid work, and equipment rental growth all require secured yard space near population centers.
For owners of these assets, the practical result is durable pricing power. For buyers, the discipline is in underwriting the yard itself — surface condition, drainage, ingress, and legal use are where value is either created or lost.