The Real Deal Miami

Caution over the canal

Industrial sector sees limited growth despite Panama Canal expansion project
By Christopher Cameron | April 29, 2014 11:30AM

Port of Miami


From the South Florida Market Report: Miami’s industrial real estate market will soon be hit with colossal new mega-ships loaded with cargo arriving at PortMiami, coming through an expanded Panama Canal. The multi-billion dollar canal expansion project should allow vessels to carry three-to-four times more cargo to the East Coast, which, if all those ships were loaded up, could overwhelm Miami, due to an acute shortage of space to handle it.

“The industrial space down here is full right now,” said Edward Easton, chairman and CEO of the Easton Group, a Doral-based firm that owns 7 million square feet of industrial real estate in South Florida. [more]