Activity at both the port and airport has been surging, thanks largely to Southern California's strong economy and improving conditions in most other Pacific Rim nations. The higher passenger and cargo volume has fueled a renaissance in the real estate markets around both facilities, sending vacancies at existing projects lower and triggering a wave of new construction.

Port officials are planning to build a giant new container terminal project to accommodate their growth. The $78-million contract they have awarded calls for Sully-Miller to develop more than 300 acres of cargo storage space as part of the new terminal.

A Sully-Miller spokesperson tells GlobeSt.com that construction should begin next month and be finished by May of next year. About 125 workers will be hired to complete the work.

Separately, LAX officials have announced a record 67.6 million travelers and 2.24 million tons of cargo passed through the airport's gates last year. Both figures represent a 5.8% increase from 1999.

Airport officials are hoping to expand their facility too. But those plans have been slowed by several factors, including opposition from some area homeowner groups and rifts between pro- and anti-expansion city leaders.