As more products are coming in through America's ports, demand for warehouse space is rising.
Over the past five years, annual twenty-foot equivalent unit (TEU) volume at top ports grew by an average of 18%. Some ports are growing substantially faster over the same period.
In terms of annual TEU volume from 2015 to 2020, Philadelphia, Houston, Savannah, Baltimore, New York-New Jersey, Charleston, Los Angeles-Long Beach, Norfolk, Oakland, Miami/Everglades and Seattle/Tacoma have seen the most significant increases. The biggest jumps in warehouse inventory were found in Savannah, Charleston and Houston.
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
