b'32American Journal ofTransportation ajot.comWarehouse racking market likely toPort Everglades sees investment by reach $10,839.2 million by 2033 private sector with warehouse buildsAsperarecentmarketanalysisto invest roughly US$ 2,000 millionBusiness opportunities at Port Ever- former site of Park N Fly.by Future Market Insights (FMI), theoverthenextdecade.Toimproveglades are expanding with the construc- Thecreationofwarehouses globalwarehouserackingmarketisCanadastransportationefficiencytion of two warehouses that will offerimmediatelyadjacenttoPortEver-expectedtocapturea3.8%CAGRand effectiveness. distribution and logistical services.glades is an indication of our seaports from2023to2033.Themarketis Many manufacturing companies doSeagisPropertyGroupreportedstrength and standing in the market-likely to increase from US$ 7,464.9not own warehouses and instead preferthis week that its 75% complete withplace,saidCEOandPortDirec-million in 2023 to US$ 10,839.2 mil- tousethird-partylogisticsprovidersits199,624-square-footspeculativetorJonathanDaniels.Theprivate lion by 2033. to keep their goods. This saves moneydevelopmentat1700EllerDriveinsector understands the advantages of The global logistics industry com- and allows them to focus on the qual- Hollywood,Florida.Itexpectscon- partnering with our Port. In addition prisesawiderangeoffreightandity of their products and services. As astruction to be complete in Septem- tobeingconvenientlylocatednear cargo-relatedtransportationsectors.result, warehouses must optimize theirber.Thebuildingsitsjustoutsidemajor modes of transportation, we are The integration of material handling,spacetoaccommodatemoregoods.PortEvergladessecurityentranceresponsible for more than $28.6 bil-warehousing,packaging,transporta- Most warehouse racks manufacturersallowingforpromptentrytothelion worth of trade in 2022. That is tion,inventorymanagement,supplyalso offer consulting services to helpseaports cargo terminals, Port Ever- attractive to businesses.chain management, procurement, andwith warehouse management. glades International Logistics CenterThese new privately owned ware-shipping security are expected to drive(PEILC) and Florida East Coast Rail- houses will complement the PEILC, a sales of warehouse racking market. T Hek eyd river ofm arkeT ways near-dock facility. public-private partnership with Cen-Furthermore,theneedforflex- g rowTH isr isingd emand for The other new build is by BridgeterPoint Properties that was built in iblematerialstoringandstackingr eTails pace Industrial,whichanticipatescom- 2020 on 16.657 acres of Port-owned architectureswithnewsafetyfea- Growingretailspacegloballyispleting its 170,892-square-foot logis- property. The entire PEILC is acti-tures and resource efficiency is a vitalexpectedtoboosttheglobalstor- tics facility in the second quarter ofvatedasForeignTrade-ZoneNo. factor spurring demand for industrialagerackmarketovertheforecast2024. The building is less than a mile25 allowing for the efficient distri-racking systems. In addition to this,period. The worldwide retail marketfrom Port Everglades at 2200 NE 7thbution of goods at lower duty and theexpansionofthee-Commerce(RACKINGcontinued on page 37) Ave. in Dania Beach, Florida. Its thetariff costs.sector is also fuelling the growth in the market.Different solutions are being pre- B R A T Isented as technology advances to makeL E N Goperationseasier.Withcutting-edgeC Eapproachesandeffectivesolutions, smartstorageideasaregainingtrac-tion. With the correct kind of training inautomatedsolutions,awarehouse1920-2020managementsystemmaybeconsid- O Eerablymoreeffective,empoweringF SERVICemployees to be more productive even when working at a high intensity.Upgrading, modifying, or relocat- SUCCESS STARTS WITH A WINNING TEAM!ing storage systems following changing businessneedsisanothersignificant consideration. This is compelling man- Since our establishment in 1920, we haveWE OFFER OUR CUSTOMERS:ufacturers to employ racking systems,been providing our global customers a such as drive-in pallet racks and struc- premier level of service through superiorOn-site Storage and Multi-modalturalselectivepalletracks,therebyhandling and performance, technologicalDistribution Servicesaugmenting the growth in the market. advancements, and a perpetual eye Customer Access to 24 hour Inventory TrackingGrowing need for quick producton customer satisfaction. Also, we offer oneStandard Berths and Ro-Ro Ramps are availableaccessibility,maximumspaceutili- of the most cost effective and reliable laborSpecially engineered Lifting Gearzation,productandworkersafety,forces in the North Atlantic. convenientworkability,andoverallContainer Transloading from / to Rail or Truckperformance enhancement is expectedWe have the ability to accommodate aOn-site service provided by 2 Class Ito drive the market. Furthermore, thevariety of automobile, breakbulk, bulk,Rail Carriersavailability of both manual and auto- container and forest products. OurEfficient Distribution to Two Thirds of the maticrackservicingisexpectedtodistinction, is based on our ability to closelyUnited States and Canadian populations within boost sales in the forthcoming years,coordinate your Stevedoring, Warehousing48 - 72 Hours says the FMI analyst. and Distribution Logistics. g rowingd emand forw areHouses paceo pTimizaTion Global trade volumes are increasing at an unprecedented rate as a result of improved trade connections via roads, trains,andairways.Thisisrising the demand for customized products and favorable trade agreements. The TradeandTransportationCorridorFOR MORE INFORMATION Initiative,forexample,isexpectedCONTACT US AT:JH STEVEDORING, INC. 2147 South Columbus Blvd. (LEADcontinued from page 30) Philadelphia, PA 1914825 big-box markets in North America.TEL: 215-218-3060Fourofthesemarketshadvacan- FAX: 215-218-3078cies of less than 1%: Inland EmpireWEB: www.jhstevedoring.com(0.1%), Los Angeles County (0.6%), Toronto (0.8%) and Savannah (0.9%).PENN WAREHOUSING & DISTRIBUTION, INC. The top 10 markets in North Amer- 2147 South Columbus Blvd. ica, ranked by square feet leased, were: Philadelphia, PA 19148Inland Empire46.7 m/sq/ft TEL: 215-218-3000FAX: 215-218-3043DallasFort Worth .34.4 m/sq/ft WEB: www.pennwarehousing.comChicago .33.5 m/sq/ftSouthern NJ/Eastern PA 32.6 m/sq/ftAtlanta .27.6 m/sq/ftHouston .19.1 m/sq/ftNorthern/Central NJ 18.8 m/sq/ftPhoenix .16.4 m/sq/ftIndianapolis .15.2 m/sq/ftColumbus 14.9 m/sq/ft'