By Chris Owen , Research Manager | Florida
For the first ever Florida Logistics Report, our team is highlighting how the seven major markets in Florida are playing an integral role in global trade networks with each market having a unique place in moving goods into and out of the State.
We examined 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.
Right now, 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.
We will be rolling out the various sections of the report over the course of the next few weeks. Below please find Florida By the Numbers for a snapshot of our population numbers, our tourism economy and our overall infrastructure breakdown.
As the Florida Research Manager at Cushman & Wakefield, Chris Owen is responsible for research operations in the State of Florida. Supporting the firm’s professionals, Mr. Owen provides quantitative and qualitative analysis of commercial real estate trends while fulfilling on-demand requests for clients’ specific research needs and business development efforts.
For Further Information Contact:
Florida Research Manager
Cushman & Wakefield
+1 407 541 4417