Panama Canal Expansion… and what it means
We traveled to Panama to learn first-hand how the expansion impacts demand for industrial real estate in the U.S.
John Carver, head of Jones Lang LaSalle’s Port, Airport & Global Infrastructure (PAGI) group, led 15 members of our Supply Chain &
Logistics Solutions team as well as three U.S based developer clients on a “JLL Expedition” to tour the Panama Canal.
The expansion of the Panama Canal by way of a new, third set of locks is a reaction to the growth and evolution in the global
movement of goods and materials by shipping container. The larger “Post-Panamax” ships that will be able to transit the expanded
Canal will carry more TEUs (twenty-foot equivalent units) through on each trip, realizing significant economies of scale for carriers and
shippers alike. In a world of ever-increasing oil and transportation costs, the eventual impact on the industrial real estate landscape in
the United States will be just as important.
The expansion of the canal has already sparked competition for port market share and the need for capital investment in projects like
channel dredging to accommodate larger ships with deeper drafts, but it also has the potential to shift the flow of goods as they are
moved throughout the United States – and thus where warehouses and distribution centers may be needed.
For more information on how the Panama Canal expansion could impact your business, please contact our industrial team.
Key highlights of our three-day expedition…
Meeting and briefing with the Panama Canal Authority
Left to right: Gregg Christoffersen, Ed Barber (Lubert Adler), Keith Stauber, Zach Cheney (JLL Brazil), Chris Tomasulo (front), Jim Martell (Ridge Property Trust), Robert Clement (Shipyard Creek, LLC), Bob Robers,
Amy Gerber, John Carver, Dawn McCombs, David Knee, Craig Meyer, Rodolfo Sabonge (Vice President of Market Research and Analysis at the Panama Canal Authority), Steve Grable, Ann Marie Woessner-Collins,
Rich Thompson, Terry Stieve, Walter Luchsinger (Director of Research and Analytics, at the Panama Canal Authority), Dan Wendorf, Aaron Ahlburn and Steve Medwin.
Tour of the $5.25 billion Panama Canal construction site
Visit to Miraflores Locks
Meeting at Manzanillo Int. Terminal
Site visit to future Panama Canal Colón Port (JLL PAGI Project)
Meeting at Colón Free Trade Zone
The Panama Canal Colón Port (PCCP) is bringing together internationally renowned maritime interests committed to the construction and
operation of a modern and efficient port complex designed to serve present and future demands for transshipment and other maritime
services in the Panama Canal Zone. PCCP will be built to provide for initial capacity of 1.0 million TEU’s of dynamic throughput upon initial
completion in 2012, and a total of 1.6 million TEU’s when fully built out by 2015.
Aaron Ahlburn
+1 424 294 3437
[email protected]
John Carver
+1 213 239 6336
[email protected]
Gregg Christoffersen
+ 1 757 348 1477
[email protected]
Amy Gerber
+1404 995 2447
[email protected]
Steve Grable
+1 404 995 2455
[email protected]
David Knee
+1201 393 4155
[email protected]
Dawn McCombs
+1 303 217 7973
[email protected]
Steve Medwin
+1 305 704 1331
[email protected]
Craig Meyer
+ 424 294 3460
[email protected]
Bob Robers
+1 404 995 2445
[email protected]
Keith Stauber
+1 773 458 1386
[email protected]
Terry Stieve
+1 314 338 2088
[email protected]
Rich Thompson
+1 773 458 1385
[email protected]
Chris Tomasulo
+1 404 995 2462
[email protected]
Dan Wendorf
+1 614 460 4407
[email protected]
Visit us at www.us.joneslanglasalle.com/industrial
©2011 Jones Lang LaSalle IP, Inc. All rights reserved. All information contained herein is from sources deemed reliable; however, no representation or warranty is made to the accuracy thereof.