Cushman & Wakefield of Florida today published its 2017 Florida Logistics Report which provides an overview of the logistics network by major market as well as some key demographic and real estate market metrics.
As we start the rebuilding efforts in many parts of the state from the aftermath of Hurricane Irma, the importance of transportation and supporting networks are critical in the success supporting getting businesses open and people back on their feet.
Florida’s logistics network services the 3rd most populous and the 8th most dense state in the nation. With 15 deep-water seaports, 20 commercial airports, two Class I railways and thousands of miles of interstate highways, Florida plays an integral part in supply chains worldwide. The state is located at the crossroads of growing north-south and east-west trade lanes that by 2030 will provide access to over 1.0 billion consumers in the western hemisphere.
Billions has been invested in seaports, airports, and roadways in an effort to keep up with consumer demand and the ever changing dynamics in how to move cargo through the state. Whether to increase cargo capacity or decrease congestion and bottlenecks on different modes of transportation, Florida has made improving the logistics network a top priority.
Increased trade has translated to higher demand for warehouse/distribution space with nearly all markets performing at or better than pre-recession levels. As the population expands to 23.3 million people over the next five years, the need for additional warehouse space could potentially add up to 32 million square feet to the market.
Cushman & Wakefield hopes this tool is useful to users in the market by providing an overview of the extensive logistics infrastructure in place in the state of Florida.