What to Expect Post Panamax

Next year, the Panama Canal will be able to handle ships carrying up to 14,000 containers (previous max: 4,000), making shipping from Asia to the East Coast totally doable and opening doors for its ports beyond the industrial sector, says Keller Williams’ Diego Leiva. He expects more manufacturing jobs near ports in order to trade on the Made in the USA stamp. We snapped Diego at a recent EisnerAmper event at its 750 Third Ave office. (Despite our suspicion, reports state that Diego isn't the "man" in the palindrome "A man, a plan, a canal, Panama!")

Mintz Levin real estate head Jeff Moerdler, who also sits on the Port Authority board of commissioners, says a wider Panama Canal will mean fewer (though larger) vessels, which is great for the environment. At the Port of New York and New Jersey (the third largest in the country and the largest on the East Coast), 1,400 acres are dedicated to container operations, and 5.5 million containers make their way through every year.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's New York Newsletters
Related Stories

Fort Worth Approves Incentive Deal For Drone Developer Mach Industries

DFW's Industrial Market Set Leasing Records During Q2

Houston CRE Firms Turn To Contractors As They Look To Scale

Tax Break Fight Threatens Development In Housing-Starved Long Island

ICE To Sell 3 Texas Warehouses After Detention Center Conversion Plan Dissolves

The Revitalization Of Sugar Creek On The Lake, A Premier Waterfront Property In Greater Houston

Vornado, Related's Google-Anchored Office Building Faces 'Imminent Default'

Halo Vista Developers In Phoenix Reveal Plans To Attract TSMC Suppliers

Illinois' Record Storm Season May Be Changing The Risk Equation For CRE

10 States Alone Carry $1.4T In Wildfire Property Risk, Cotality Finds

Pied-À-Terre Tax Won't Deter Buyers Long Term, Developers Say

Long Island City Lab Sells At A Loss: The N.Y. Deal Sheet