It looks like there’s good reason to be bullish about building warehouse space in and around the Port of Baltimore.
East Coast ports are struggling to provide the needed warehouse space needed because of “booming” container traffic, according to a Wall Street Journal article published Thursday.
The expansion of the Panama Canal is reshaping seaports up and down the U.S. East Coast, as local governments spend billions to deepen harbors, raise bridges and make other infrastructure improvements in anticipation of larger ships. But data show that East Coast ports aren’t meeting demand in one key area: the supply of warehouse space at or around marine terminals.
The Port of Baltimore is one of those that has sunk big dollars in improvements to serve larger ships. In recent years the port has added super-sized cranes and a 50-foot deep container berth so it can handle larger ships that will be moving through an expanded Panama Canal.
As a result some local developers have launched ambitious projects to meet the need for warehouse space in Baltimore near the the port. Earlier this year Chesapeake Real Estate Group and its partner USAA Real Estate Co. purchased the former Sun Products Corp. site in East Baltimore and redeveloping it as the Port 95 Industrial Park.