Can Our Industrial Market Sustain More Growth?

Christopher Beck is a managing director at Newmark Grubb Knight Frank’s Los Angeles office.

LOS ANGELES—The Port of Long Beach and the Port of Los Angeles can now accommodate the world’s largest container ships. The Port of Long Beach welcomed the CMA CGM Benjamin Franklin in February, and had the highest cargo volume in history, and this May, the ports will welcome the CMA CGM Benjamin Franklin and Maersk Edmonton, two of the world’s largest cargo ships. However, the Southern California market already suffers from industrial supply constraints and one of the lowest vacancy rates in the nation. Can the market support this extra cargo or more growth at the ports? We sat down with industrial expert Christopher Beck, managing director at Newmark Grubb Knight Frank, to find out how the industrial real estate market will sustain future growth in this exclusive interview.

GlobeSt.com: How does the increase in cargo volumes at the port, especially now that they can accommodate the world’s largest ships, affect the industrial market?