Good access to transportation, a variety of positive economic drivers (manufacturing, retail, Govt, info tech, medical, colleges), decent weather, affordable utilities & entertainment, low crime, etc. 

@Tim Holmes There are a variety of passive, replacement property strategies available to exchange investors that include DST's (Delaware Statutory Trusts) and TIC's (Tenants in Common).  

There are a variety of carriers that will do this sort of risk however there are several options.

The entire property would be designed as a universal event space for a variety of gatherings and events.

@STEPHEN YUAN I have a wide variety of architect firms I've worked with but "industrial architect" is not very clear.  

The good news is that these areas all have a wide variety of housing options that fit about all your various budgets.  

LOL  Right now I'm wishing Nashville had a decent football team of any variety...

@Michinori Kaneko I got annoyed as well when I saw in the contract my management pocket late fee to themselves...but over all they seemed professional...are good with communication and their base fee were much more competitive then other PM in the area...I would be much more concerned about the inability to cancel contract quickly (mine is 30 days which sound reasonable)...I would start looking for another PM and in your case since you have multiple properties...would start moving them one by one as they go out of contract...informing the PM company in a letter very professionally for the clauses in their contract which make you move your business elsewhere...if they figure you represent a growing portfolio maybe they'll reconsider.One of my most important criteria when I chose my target market was that it will be large enough metro to allow PM variety. 

.- You can check for market volatility using a variety of sources.

My county is broken up into a variety of boroughs and townships that oversee the local budget, zoning, planning, public works, etc.