Cargo volumes are steady as she goes; infrastructure work will call the ships to port in the next two years
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Seaports are focused on enhancing their infrastructure to attract ocean carriers, while industrial users want access to population centers and supply chain optimization. Both are positioning themselves to compete and vie for market share, and this is creating excellent momentum for industrial real estate.
Eastern seaboard ports are preparing for the completion of the Panama Canal's expansion, set for 2015. This will be a game changer for many industrial markets as it relates to long-term demand growth.
Our outlook provides a distinctive analysis of seaport-centric industrial space in gateway U.S. real estate markets, and observes the influence of global economic drivers, including trade and cargo flows, socioeconomic and political factors, as well as port capacity and infrastructure investment. Profiles of major U.S. seaports are offered and connections drawn to the property-level.
Score and methodology
The PAGI score was created to provide a quick snapshot of U.S. seaports from the vantage point of the real estate stakeholder - those who invest in, develop or occupy industrial property in port-centric locations.
We based the index on 25 measurable performance metrics, divided into two major categories: terminal operating factors and the corresponding real estate market factors. The resulting index score is then a combination of the performance indicators, providing a subjective measure of a port's value to Jones Lang LaSalle clients and their customers.
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