ATLANTA—Atlanta has one of the most active industrial markets in the nation. Specifically, Atlanta closed the second quarter with 6.5 million square feet of industrial absorption.
Atlanta has many key factors that contribute to industrial activity and market stability. The city provides access to 80% of US consumers in under two days, serves as the hub of the fastest growing region in the nation, provides a business-friendly economy and diverse industry make-up, and is cost efficient. It also serves as an inland port and relies on the Port of Savannah.
GlobeSt.com caught up with Blaine Kelley, CBRE senior vice president of Industrial & Logistics, to understand how the Port affects the metro area in part one of this exclusive interview. In part two, we'll take a closer look at where Atlanta's industrial market is heading.
GlobeSt.com: What have been the drivers behind the port's success?
Kelley: Work began in 2015 to deepen nearly 40 miles of the Savannah River to make room for larger cargo ships to reach the Savannah port, which will further support new demand for industrial product in South Atlanta. The $973 million dredging project, which is expected to be completed in 2020, will deepen the Savannah River to 47 feet.
(Atlanta is breaking records on this commercial real estate front. Check it out.)
Once completed, this will enable the port to serve the larger vessels that have begun call in greater numbers after the expansion of the Panama Canal in 2016. Additionally, the Georgia Port Authority has invested heavily in road and rail infrastructure to move containers efficiently into the larger supply chain.
Globest.com: What impact does the port have on metro Atlanta?
Kelley: There is a direct correlation between the success of the South Atlanta industrial market and the rapid expansion of the Port of Savannah, which is experiencing record-setting cargo volumes. The Port of Savannah is the fourth busiest and the fastest growing US container port, and the Port of Brunswick, located approximately 80 miles to the south, is the nation's busiest seaport for automobile imports.
(Commercial real estate developers are still pressing in to industrial spec in Atlanta.)
Also, Atlanta is the market closest to Savannah, and serves into Central Florida. In many respects Atlanta is a miniature inland port, thanks to the Port of Savannah, and acts as a logistics hub receiving inbound container freight and cross docking it to retailers and shippers throughout the Southeast.
ATLANTA—Atlanta has one of the most active industrial markets in the nation. Specifically, Atlanta closed the second quarter with 6.5 million square feet of industrial absorption.
Atlanta has many key factors that contribute to industrial activity and market stability. The city provides access to 80% of US consumers in under two days, serves as the hub of the fastest growing region in the nation, provides a business-friendly economy and diverse industry make-up, and is cost efficient. It also serves as an inland port and relies on the Port of Savannah.
GlobeSt.com caught up with Blaine Kelley, CBRE senior vice president of Industrial & Logistics, to understand how the Port affects the metro area in part one of this exclusive interview. In part two, we'll take a closer look at where Atlanta's industrial market is heading.
GlobeSt.com: What have been the drivers behind the port's success?
Kelley: Work began in 2015 to deepen nearly 40 miles of the Savannah River to make room for larger cargo ships to reach the Savannah port, which will further support new demand for industrial product in South Atlanta. The $973 million dredging project, which is expected to be completed in 2020, will deepen the Savannah River to 47 feet.
(Atlanta is breaking records on this commercial real estate front. Check it out.)
Once completed, this will enable the port to serve the larger vessels that have begun call in greater numbers after the expansion of the Panama Canal in 2016. Additionally, the Georgia Port Authority has invested heavily in road and rail infrastructure to move containers efficiently into the larger supply chain.
Globest.com: What impact does the port have on metro Atlanta?
Kelley: There is a direct correlation between the success of the South Atlanta industrial market and the rapid expansion of the Port of Savannah, which is experiencing record-setting cargo volumes. The Port of Savannah is the fourth busiest and the fastest growing US container port, and the Port of Brunswick, located approximately 80 miles to the south, is the nation's busiest seaport for automobile imports.
(Commercial real estate developers are still pressing in to industrial spec in Atlanta.)
Also, Atlanta is the market closest to Savannah, and serves into Central Florida. In many respects Atlanta is a miniature inland port, thanks to the Port of Savannah, and acts as a logistics hub receiving inbound container freight and cross docking it to retailers and shippers throughout the Southeast.
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