One of the highest in-demand asset classes is Small Bay Industrial. In the last several years, most of the new industrial construction has been large warehouses to address the growth of e-commerce. Small Bay, on the other hand, has seen very little new construction since 2008/09. Municipalities generally favor new housing. As a result, there’s limited inventory available for tenants, and therefor high occupancy rates across these properties. David Hansel, Founder and Managing Partner at Lucern Capital Partners, started out in multifamily, but now specializes in Small Bay Industrial because of the great attributes of this asset class.