Core5 plans to operate in all major logistics market 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.
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.
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 ports of Los Angeles and Long Beach, which handle 40 percent 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.
Cincinnati / Columbus / Louisville
These markets are experiencing significant rent growth as they establish themselves as good alternatives for e-commerce tenants who need access to air distribution hubs and roadways to reach mid-America’s population centers. Amazon has capitalized on these attributes and is building three properties totaling one million square feet. Some parts of the region are seeing a resurgence in manufacturing, resulting in unemployment levels below the national average.
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.
The Dallas/Ft. 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 Ft. Worth International Airport growth, continues to fuel demand for logistics properties within the market. To meet this high demand, the Dallas/Ft. Worth metro, has become one of the most active in the country, historically delivering about eight million square feet annually.
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.
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.
Indianapolis is in the top 20 markets for growth, due to its affordable real estate and labor, and direct rail connections to Chicago and Canada. It offers an alternative to Joliet, Illinois’ inland port, with less congestion during peak shipping months. Indianapolis is a strong contender for tenants looking for larger land sites and big, skilled labor pools needed to operate today’s e-commerce facilities.