News
MOVIN' ON UP
August 29, 2011
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| Baltimore has jumped up on JLL's Seaport Index from 73.8 to 82.5 (out of 100), sixth in the country. JLL's Todd Hughes (whose Lutherville-Timonium soccer team pulled out a victory the night before we chatted) tells us much of that owes to a jump in cargo coming through the Port of Baltimore, particularly in its mainstays like roll on/roll off cargo (things with wheels) and forest products. The rating also got a boost from infrastructure improvements, including the dredging that's under way to create a 50-foot berth for the larger ships that'll be East Coast bound once the Panama Canal expansion is complete in 2014. As for warehouses, Todd says, large users' land of opportunity is the Route 95 Corridor, north from the port. Some spec development has even started there: Ryan Commercial's 692k SF distribution center in Harford County. The B-W Corridor, meanwhile, has tight Class-A vacancy since B and C tenants took advantage of pricing and upgraded to A space. |
