Nogales, Ariz. is witnessing increased demand for international trade warehouse space and property with the upcoming $244 million expansion of the Mariposa Port of Entry. The Nogales Santa Cruz Port Authority works with key stakeholders in the Nogales community, including commercial land developers and Realtors®, to enhance economic development in the Nogales-Santa Cruz County region.
PICOR Connect | Trends in Commercial Real Estate
In the realm of supply chain services, as with any growth-oriented product or service, constant innovation is a critical component to differentiate and create distance from the competition.
Geography, cost and a new attitude. Those three ingredients have put Tucson in the national spotlight for companies looking for markets with distribution hubs, a new report shows. Tucson is one of the least expensive cities in which to operate a distribution warehouse and its proximity to key U.S. and international markets makes it attractive to companies looking to expand or relocate, says the report by The Boyd Co. Inc. of Princeton, N.J.
A recent program held by the Pima County Real Estate Research Council (PCRERC) featured speakers entrenched in commercial real estate and investment south of the Arizona-Sonora border in the state of Sonora, Mexico. Presentations opened many eyes about the opportunities for U.S. companies and individuals to locate and invest in Sonora.
Gross revenue for U.S. third-party logistics providers (3PLs) is expected to exceed $140 billion in 2011 -- quite a feat when you consider that in 1976, less than 6,000 trucking companies had operating authority from the Federal Motor Carrier Safety Administration (FMCSA). After deregulation of the transportation industry in the 1980s, competition increased dramatically and traditional trucking companies began expanding their services. Many evolved into what we now know as 3PLs, offering warehousing, cross docking, inventory management, packaging and freight forwarding. The 3PL industry has grown steadily for three decades and, according to a recent report by Grubb & Ellis, 3PL were the most active segment of the warehouse logistics real estate market in the first quarter of 2011. A number of factors are in play and the outlook is good.
With aging U.S. infrastructure and an overburdened interstate system, one Tucson property owner is working on creative solutions to increase cargo business through the Port of Tucson intermodal facility at Century Park Business Center.
This week Prologis, global leader in warehouse development and ownership, forecasted a 12-18 month ramp up in absorption of warehouse space, largely driven by production and trade increases. We asked how Tucson warehouse space fares in the market place and whether the recovery locally will track the global and U.S. forecasts.
Going intermodal: Among the many quality industrial real estate options available to Tucson businesses, with its rail-served warehouse and manufacturing facilities, Century Park Research Center stands out as a unique option.