Not sure if I would call it a Bubble, I'm interested in seeing how the absorption plays out once the terrible winter weather comes to an end.   

If area parks have a lot of  empty lots, you will likely have slower absorption.  

Location Location and Location and demographics, saturation, doors available in the area for rent, absorption, economic impact, job resources, and so on.

What is current occupancy and what is absorption rate3.

Buying near new construction can increase property values as long as market demand or "Market Absorption" is there to purchase or "absorb" all of the new construction taking place, and then some. 

Industrial absorption is up, over 2,000,000 sq ft net was absorbed in 2013. 

Lot's of building going on and absorption seems to be slowing quite a bit. 

For your chosen industry you should be aware of and understand things such as growth factors, demand factors, build rates, current supply, absorption rates, vacancy rates and other trends associated with your market.Best,Jason Mileshko

I'd take a look at current (and projected) absorption rates in those markets then cross reference that with current (and projected) population trend from those markets.

Our our absorption rates are still very high and interest rates are very low.