Because of its diverse tenant base, the industrial outdoor storage is not suffering much during the current "freight recession," according to Jimmy Ulrich of Colliers' Industrial Capital markets team.

The trucking industry, which is closely linked to IOS, as of March 2023, has seen orders drop by approximately 38% compared to the same period the previous year.

J.B. Hunt Transport Services' president Shelley Simpson went as far as to describe the situation as a "freight recession."

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