(To read more on the industrial market, click here.)
SECAUCUS, NJ-As big as New Jersey's port area is, it's only the 16th largest in the world. The vast changes to the industrial markets in Asia and Europe are serving the big growth in the global market, said Walter Rakowich, president and COO of ProLogis, to an audience of approximately 300 at the RealShare Industrial East conference. Rakowich was the keynote speaker for the event, which is produced by Real Estate Media, publisher of Real Estate Forum and GlobeSt.com.
As globalization shifts manufacturing and helps to build an international middle class--China will have a 200-million person middle class in the next 10 years--industrial demands are changing just as rapidly. Rakowich points to Shenzhen, the fourth largest port in the world and a city of seven million people, which essentially didn't exist 20 years ago.
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