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Port-Related Properties Feeling Pressure

As cargo volumes fall, warehouse and distribution properties around US ports are likely to see further strains on occupancy levels.

By John McCloud | Updated on April 22, 2009

WASHINGTON, DC-Owners of warehouse and distribution properties around US ports are likely to see further strains on occupancy levels in coming months as cargo volumes continue to fall. According to the most recent monthly Port Tracker report from the National Retail Federation, which is headquartered here, and Lexington, MA-based economic research firm IHS Global Insight, import cargo volume at major US retail container ports hit its lowest level in seven years in February.

In addition, box throughput dropped below the one million mark for the first time in five years. The report says imports will continue to see significant declines compared with last year at least through the summer.

According to the report, the 10 US ports surveyed handled 847,832 20-foot-equivalent units (TEUs) in February, the most recent month for which actual numbers were available. The number was down 20.6% from January and 31.3% from February 2008.

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