Jones Lang LaSalle report on U.S. seaports is upbeat

As reported in the firm’s earlier studies, commercial real estate surrounding major U.S. seaports continues to outperform the broader industrial market

By ·

In anticipation of the Panama Canal expansion in 2014, the fight for market share of inbound shipping remains fierce among U.S. ports.

According to Jones Lang LaSalle’s fourth annual seaport report, the U.S. East Coast ports are especially competitive.

“Developers, investment interests and supply chain executives remain optimistic about our nation’s seaports,” said John Carver, Head of Jones Lang LaSalle’s Ports Airports and Global Infrastructure (PAGI) group.

As reported in the firm’s earlier studies, commercial real estate surrounding major U.S. seaports continues to outperform the broader industrial market.

“Influenced by an evolving maritime logistics industry, global and trade transformations ports see a bright long-term future,” added Carver.

He also observed that capital is being poured into seaport infrastructure from both the private and public sectors, responding to increased demand for “port-centric” warehouse and distribution space.

But the report may do little to ease the minds of U.S. port authorities who argue that more must be done to make their operations efficient.

“Despite substantial investments by port authorities and their private-sector business partners, inadequate infrastructure connecting ports to landside transportation networks and water-side shipping lanes often creates bottlenecks, resulting in congestion, productivity losses and a global economic disadvantage for America,” said Kurt Nagle, American Association of Port Authorities, president and CEO. “These congestion issues and productivity losses have the potential to stymie America’s ability to compete internationally.”

The Jones Lang LaSalle’s report, which analyzes the health of major domestic container seaports and their surrounding real estate, also reveals that:

Exports are creating inland development opportunities – U.S. exports are now creating back-haul opportunities and are driving new connections between domestic maritime ports, inland destinations and their surrounding distribution real estate markets
• Investment is pouring into ports – At least $13 billion of public investment is earmarked for port development in the next decade
• Limited options are available for large space users – Only 20 blocks of space are available for users requiring 250,000 SF within five miles of a major U.S. port

“Developers, investment interests and supply chain executives remain optimistic about our nation’s seaports,” said Carver.


About the Author

Patrick Burnson, Executive Editor
Patrick Burnson is executive editor for Logistics Management and Supply Chain Management Review magazines and web sites. Patrick is a widely-published writer and editor who has spent most of his career covering international trade, global logistics, and supply chain management. He lives and works in San Francisco, providing readers with a Pacific Rim perspective on industry trends and forecasts. You can reach him directly at [email protected]

Subscribe to Logistics Management Magazine!

Subscribe today. It's FREE!
Get timely insider information that you can use to better manage your entire logistics operation.
Start your FREE subscription today!

Article Topics

Ocean Cargo · Ocean Freight · Trade · All Topics
Latest Whitepaper
Reduce Order Processing Costs by 80%
Sales order automation software will seamlessly transform inbound emailed and printed purchase orders into electronic sales orders that can be automatically processed into your ERP system with 100% accuracy.
Download Today!
From the June 2016 Issue
In the wildly unstable ocean cargo carrier arena, three major consortia are fighting for market share, with some players simply hanging on for survival. Meanwhile, shippers may expect deployment shifts as a consequence of the Panama Canal expansion.
WMS Update: What do we need to run a WMS?
Supply Chain Software Convergence: Synchronization Realized
View More From this Issue
Subscribe to Our Email Newsletter
Sign up today to receive our FREE, weekly email newsletter!
Latest Webcast
Optimizing Global Transportation: How NVOCCs Can Use Technology to Operate More Profitably
Global transportation isn't getting any easier to manage, especially for non-vessel operating common carriers (NVOCCs). Faced with uncertainties like surcharges—but needing to remain competitive when bidding against other providers—NVOCCs need the right mix of historical data, data intelligence, and technology support to make quick and effective decisions. During this webcast you'll learn how Bolloré Transport & Logistics was able to streamline its global logistics and automate contract management.
Register Today!
EDITORS' PICKS
Top 50 U.S. and Global 3PLs 2016: Technology Now the Key Differentiator
Following last year’s merger and acquisition frenzy, the speed of technology implementation by the...
Digital Reality Check
Just how close are we to the ideal digital supply network? Not as close as we might like to think....

Top 25 ports: West Coast continues to dominate
The Panama Canal expansion is set for late June and may soon be attracting more inbound vessel calls...
Port of Oakland launches smart phone apps for harbor truckers
Innovation uses Bluetooth, GPS to measure how long drivers wait for cargo