Markets

Markets

Core5 operates in all major logistics markets throughout the U.S., as well as tertiary markets and regional hubs. The following is a partial list of markets and why we consider them key. To view all properties click here.

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.

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.

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.

South Florida

South Florida markets have long been sought after for regional distribution to the major population base of 6.7 million. The region specializes in tenants distributing durable and nondurable goods, specialty equipment, medical equipment and pharmaceuticals. The industrial market continues to benefit from regional job growth, specifically in the hospitality, trade and education sectors. This economic growth will increase demand for logistics properties in the future.