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CBRE ranks Baltimore port high

A ship at the Port of Baltimore (FILE)

Baltimore's port is on the way up thanks to the surrounding industrial commercial real estate market. According to CBRE's inaugural North American Ports Logistics Annual Report, Baltimore's port is ranked No. 11 in the nation's top 15 based on port infrastructure capabilities and strength of the area's industrial commercial real estate market. “Overall industrial leasing activity in Baltimore was strong in 2014, with four million square feet of positive net absorption in the market,” Tim Zulick, CBRE Managing Director in the Baltimore region, said in a news release. “The majority of the net absorption occurred in Baltimore city, a submarket that is closely tied to port activity, causing availability to fall 6.8 percent compared to 2013." Baltimore in large part because Ports America, the port and terminals operator, has invested more than $100 million in the Seagrit Marine terminal. The port also boasts advantages such as a new berth with 50 feet of draft and four "super post-Panamax cranes."

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