Markets

Atlanta

With the convergence of three major interstates – I-20, I-75 and I-85 – along with the busiest passenger airport in the world, Atlanta has long been positioned as the key logistics hub and economic engine of the Southeast. The fastest growing region in the country and a population base in excess of 5.4 million, Metro Atlanta is the U.S.’s ninth largest MSA and the fourth largest industrial market with 556 million square feet. Desired by major logistic companies, big box development leads in Atlanta with tenants ranging from third-party logistics providers to consumer goods. The ability to reach Metro Atlanta’s population base within a short truck drive makes close-in submarkets essential to last-mile distribution. Core5 is actively developing on an inventory basis in this market and has land under control for development across the region.

Chicago

Chicago is a primary gateway market in the U.S. and a key logistics center for trains coming from the West coast, making it one of the key inland ports in North America. With a metro population of over nine million and over a billion square feet of logistics properties, Chicago has always seen and will continue to see high demand for logistics properties looking to cover the “last mile” along the I-55 corridor that serves the city and its southwest suburbs. Tenants include transportation and logistics companies and manufacturers looking for large distribution product, as well as e-commerce providers who need in-fill locations for last-mile fulfillment.

Cincinnati / Northern Kentucky

With access to three major interstates as well as DHL, FedEx, USPS and future Amazon Prime Air distribution hubs, Cincinnati/Northern Kentucky is a key e-commerce hub of the Midwest. The region covers approximately 296 million square feet with a metropolitan area population of 2.1 million and benefits from being located within 500 miles of almost 60% of the U.S. population. Core5 is actively developing an inventory basis in this market.

Columbus

The Columbus Region is the fastest growing metropolitan area in the Midwest in terms of population and GDP growth. The market is within a one-day truck drive of 46% of the U.S. population and has a strong logistics infrastructure in place that includes convenient freeway access to I-70 and I-71, both Norfolk Southern and CSX intermodal years, and a cargo-dedicated airport (Rickenbacker International Airport). Several large retailers are headquartered in Columbus such as LBrands (Victoria’s Secret/Bath & Body Works) and Abercrombie & Fitch, and American Honda Motor Company has several major plants and suppliers nearby. Rent growth has been steady and rates are very affordable.

Dallas / Fort Worth

The Dallas/Fort Worth market is an ideal major distribution hub in the center of the country with rail connectivity to Chicago and Southern California. It benefits from a diverse economy and a population base of 6.4 million. The population influx, in addition to the area’s affordability, location, and strong labor force, consistently ranks the region among the fastest growing metros in the country year after year. The expansion of the Panama Canal, along with DFW International Airport growth, continues to fuel demand for logistics properties within the market. To meet this high demand, the Dallas/Fort Worth metro, has become one of the most active in the country, historically delivering about eight million square feet annually.

Houston

Houston offers an impressive array of distribution channels and its central location makes it easy to reach both coasts within hours. As the largest container port on the Gulf Coast, the Port of Houston has been instrumental in the city’s development of international trade and carrier services on all major trade lanes link Houston to all international markets. Additionally, the shipping channel intersects a very busy barge traffic lane, the Gulf Intracoastal Waterway.

The region’s extensive highway system is well-integrated with the Houston Airport System, four deep-water seaports and the mainline railroads serving the city. Houston is at the crossroads of Interstate Highways 10, 45 and 69, with I-69 being known as the “NAFTA superhighway,” which links Canada, the U.S. industrial Midwest, Texas and Mexico.

Indianapolis

Indianapolis is located within a single day drive of over 80% of the U.S. population and home to the second largest FedEx air hub in the world, which makes this location an ideal logistics hub in the Midwest. Among major cities, Indianapolis boasts some of the most affordable real estate and cost of living in the U.S., making its labor pool highly competitive. The Indianapolis market has a significant concentration of 3PL providers with multi-operation (building) campuses, further making the area more attractive to end users.  The state of Indiana is ranked third in total freight railroad miles and provides the only statewide port system with direct access to both U.S. coasts. Indiana also has the second lowest workers’ compensation rate, and is only one of two states with a AAA bond rating.

Inland Empire / Southern California

The Inland Empire distribution market has long been one of the most active in the U.S., in large part because of its proximity to the Pacific Rim and the ports of Los Angeles and Long Beach, which handle 40% of the country’s imports and reach one of the largest population bases in North America. Rent growth is the highest in America, given the limited supply and solid demand for big box product. While port congestion and the widening of the Panama Canal have led importers to look for alternative ports on the Eastern seaboard, California ports are expected to continue to grow and remain the primary source of goods coming into the U.S.

Louisville

Driven by its centralized location at the intersection of the Southeast, Midwest and Northeast United States, Louisville has become a preferred destination for manufacturing and logistics companies seeking to take advantage of a robust network of transportation infrastructure. The Louisville industrial market is largely driven by the presence of the UPS Worldport Hub along with Ford’s Kentucky Truck Plant (4.7 million square feet), Ford’s Louisville Assembly Plant (3.2 million square feet), and Haier’s Appliance Park (home of GE Appliances) which spans over 900 acres. From a development perspective, cost-effective industrial sites within the most mature infill submarkets have become increasingly scarce. As a result, new development continues to spread north into Southern Indiana, south into Bullitt County and east along I-64. As one of the most dynamic industrial markets in the region, Louisville’s fundamentals remain strong behind robust absorption and continued corporate announcements and is well-positioned to maintain its momentum.

Memphis

Home to FedEx and thus the beneficiary of e-commerce growth, Memphis has garnered much attention as a distribution leader in the U.S. The market is well situated to reach major population bases and has emerged as a logistics leader with Class I rail lines, North America’s busiest cargo airport, seven highways and a Mississippi River port. Core5 has land under control in the region, with plans to begin inventory development in the near term.

Nashville

Nashville is home to more than 2 million people and more than 53,000 businesses — attracting more and more every day. Music City is known as the strongest concentration of the music industry in America, but it is also a hub for healthcare, manufacturing and technology. The Nashville region is defined by a diverse economy, low costs of living and doing business, an artistic culture and a well-educated population. It is one of only six U.S. cities with three major converging interstate highways and it is the largest metro area in a five-state region. Bordering eight states, more than half of the nation’s population resides within 650 miles of Nashville. These location advantages translate to one- and two-day truck delivery times to more than 75% of all U.S. markets. Consistently ranking in the top ten large metros for job and population growth, Nashville experiences low unemployment and a favorable business climate.

Pennsylvania

The Pennsylvania market remains a top five core industrial market in the United States due to the proximity to three of the largest MSA’s (metropolitan statistical areas) in the U.S. (New York City – 20 million, Washington DC – 6 million, Philadelphia – 6 million).  The market boasts the reach of nearly 40% of the U.S. population within a one-day truck drive and benefits from multiple intermodal facilities (CSX and Norfolk Southern) as well as major mission critical facilities for parcel carriers including FedEx, UPS and USPS.

Phoenix

Known as “The Valley of the Sun,” Phoenix has consistently outpaced the U.S. population growth. Over the last 40 years, the population of Metro Phoenix has nearly tripled, growing from 1.6 million people in 1980 to over 5 million residents today. The employment base in Phoenix more than quadrupled from 430,100 to 2,536,570 employees. A business friendly environment with low taxes and numerous incentives encourage continued growth and investment in Metro Phoenix. With low costs of living and doing business coupled with close proximity to major regional markets, companies from across the country have chosen to relocate or expand into the Valley of the Sun, especially as large warehousing and manufacturing spaces on the coasts become increasingly unaffordable. Phoenix has become a hub in E-commerce, logistics, and manufacturing and has attracted companies within a diverse range of industries such as Amazon, TSMC, and Lucid Motors. The demand for warehouse and distribution space continues to grow as approximately 35 million consumers can be reached within a single day’s truck ride from metro Phoenix.

San Antonio

San Antonio has one of the most robust economies in the country.  This is due to a diverse industry base including aerospace, financial services, government and military, health care and bioscience, hospitality and entertainment, information technology, manufacturing, and telecommunications. This is a city with steady growth and tremendous investment opportunities, both nationally and globally.  A highly qualified, educated workforce and unmatched cultural mix also position San Antonio as a hotspot for international business.

San Antonio is expected to see an increase of 80,000 households by 2026.  The figure is bolstered by the strong domestic migration the city is experiencing, with between 18,000 and 19,000 new city residents expected per year over the next four years.  Almost 40% of migration into San Antonio comes from Austin, Houston, Dallas, and Corpus Christi.

As home to four major military installations (Randolph AFB, Lackland AFB, Fort Sam Houston, and Camp Bullis), San Antonio is undeniably abuzz with patriotic energy, drawing in not only active duty military members, but also retirees, veterans, and civilian employees.