Industrial assets nationwide experienced a monumental year in 2021, with the Midwest witnessing some of the most impressive fundamentals. The region’s robust highway systems, railroad infrastructures, low labor costs, and port access have made the Midwest a target for many manufacturing, logistics, and distribution tenants. The ongoing build-out of supply chains and swift growth in e-commerce sales has pushed industrial performance in the Midwest to record highs. Tenants are seeking to expand their distribution networks in the Midwest to fulfill a surge of online orders. The pandemic-induced breakdown of supply chains have retailers and other operators holding onto more inventory, thus driving up the demand for warehouse space. In some markets, like Louisville and Columbus, out-of-state and coastal investors represent a large portion of sales, around 70 and 80 percent, respectively. Additionally, the region supports a large concentration of start-up tech companies, technology-driven firms, health systems, and auto manufacturing. These fundamentals have played a vital role in the Midwest’s strong industrial performance and outlook.