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

Federal Government To Sell Nearly 31K SF In Five Points: The Denver Deal Sheet

Avison Young Had Assets Frozen By Bank Over Unpaid Taxes

Artificial Intelligence Companies Reshaping Dublin Office Demand As OpenAI Confirms HQ

Mars Factory Overhaul Stalls As Candymaker's Chicago Expansion Accelerates

Camden Property Trust Sells West Coast Portfolio, Clears $1.5B Target

How Long Island Projects Can Cut Through Red Tape And Community Opposition To Cross The Finish Line

Philly's Big-Box Warehouse Owners Subdivide Spaces After Developing 'The Wrong-Size Buildings'

Empire State Building Observation Deck Hemorrhaging Visitors, Value

Cortland, Pulte, INVH, Walker & Dunlop Execs Talk Changing Demographics, AI

Blackstone Sells $1B Industrial Portfolio To Atlanta-Based Investor

America's War Machine Is Growing, Sparking A Defense Real Estate Boom

Boca Raton's New Leaders Throwing 'All Kinds Of Curveballs' At Developers