Moreover, with demand surpassing new supply, net asking rents inched up 1.9% in Q1 to $7.01 per square foot, denoting the highest level since 1989. In addition, per a report from Prologis Inc. ( PLD - Free Report ), for a given level of revenues, online retailers require three times the distribution-center space compared with traditional retailers. This, in turn, is spurring demand for industrial space. Particularly, with a recovering economy and job market gains, as well as tax reforms, consumption levels are anticipated to remain elevated.