Chris Owen
Potentially 19 Million Square Feet of New Warehouse/Distribution Space by 2030
The seven major markets in Florida play an integral role in global trade networks with each market having a unique place in moving goods into and out of the state, according to the Cushman & Wakefield’s new 2016 Florida Logistics Report.
Cushman & Wakefield examined the Jacksonville, Orlando, Tampa Bay, Lakeland, Palm Beach, Broward and Miami-Dade markets, comparing road, rail, air and sea capabilities and capacities. Here are some of the notable findings in the report:
- Trade in some Florida markets in 2016 approached, and in some cases exceeded, the volume recorded during the height of the last economic cycle in 2007/2008.
- As transportation dynamics change to larger ships with the widening of the Panama Canal, Florida increased investment to create greater efficiencies in moving goods between different modes of transportation (ports, truck, rail and air).
- Demand for warehouse/distribution facilities has the potential to add up to 19.0 million square feet of space by 2030 as the population grows to over 27.0 million.
“Florida is at the crossroads of international trade lanes and has the potential to play an important part with both imports and exports. It can capture additional market share from other markets with its superior logistics infrastructure that moves goods more efficiently and cheaper from points-of-entry to end-markets,” said Chris Owen, Florida Research Manager and the lead behind the 2016 Florida Logistics Report. ”As a dynamic and growing state, the report provides a clear picture of current capabilities and the challenges for future growth.”
The full 2016 Florida Logistics Report can be downloaded here.
About Cushman & Wakefield
Cushman & Wakefield is a leading global real estate services firm that helps clients transform the way people work, shop, and live. Our 43,000 employees in more than 60 countries help investors and occupiers optimize the value of their real estate by combining our global perspective and deep local knowledge with an impressive platform of real estate solutions. Cushman & Wakefield is among the largest commercial real estate services firms with revenue of $5 billion across core services of agency leasing, asset services, capital markets, facility services (C&W Services), global occupier services, investment & asset management (DTZ Investors), project & development services, tenant representation, and valuation & advisory. To learn more, visitwww.cushmanwakefield.com
