DYNAMIC TIME LAPSE VIDEO – THE GERALD DESMOND BRIDGE PROJECT > THE I-710 CONNECTION ROAD DEMOLITION

August 30, 2014 on 9:23 am | In Bravo, Fascinating Information, Government, Green, Investment Opportunities, New Developments, Problem Solving, Property Maintenance, Uncategorized | 1 Comment

from  Jodi Summers

The Gerald Desmond Bridge in Long Beach is a through arch bridge that carries four lanes from the end  of Interstate 710 across the Cerritos Channel to Terminal Island.  The bridge is named after Gerald Desmond, a civic leader and former city attorney for the City of Long Beach.

Built in the 1960s (with Bethlehem Steel), the Gerald Desmond Bridge was not designed to handle today’s supertankers and traffic volumes and it has been deteriorating, so it is being replaced.

The new bridge, due for completion in 2016, will allow access to the port for even the tallest container ships. It will be the first long-span cable-stayed bridge in California. (A cable-stayed bridge has one or more towers (or pylons), from which cables support the bridge deck.)

Time-lapse video featuring new footage of the SB I-710 Freeway connector demolition work that took place from May 23 – June 22, 2014. The connector to WB Ocean Blvd. was demolished to make room for the new bridge foundations.

In order for the bridge to be so tall, long approaches will be required to allow heavy trucks to cross the structure. A joint venture of Parsons Transportation Group and HNTB performed preliminary engineering for the main span and the approaches.

The current bridge proved to be obsolete in March 2012, when the 155-foot (47 m) vertical clearance of the bridge was not enough to allow the Fabiola to enter the Port of Long Beach. At 12,562 TEUs, the Fabiola was, to date, the largest container ship to date to enter the Port of Long Beach. The height restriction prevented the ship from docking at the Mediterranean Shipping Company dock; it docked at the Hanjin terminal instead.

The Gerald Desmond Bridge will continue to be a vital link in the nation’s trade system and a major commuter corridor.

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https://www.youtube.com/channel/UC3AWP2sDkpusdN_g8iUnKVA

http://en.wikipedia.org/wiki/Gerald_Desmond_Bridge

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BIGGER BETTER PORTS, THE RISE IN E-COMMERCE + JOBS

August 16, 2014 on 6:08 pm | In Bravo, Charts + Statistics, Economy, Fascinating Information, Green, New Developments, Uncategorized | 2 Comments

by Jodi Summers

There is a trend is under way in the trans-Pacific that will position Los Angeles-Long Beach for faster growth than other West Coast ports. The newly updated ports allows big carrier alliances operating especially big ships with capacities up to 14,000 20-foot container units to make  Los Angeles-Long Beach their home.  That means growth in warehousing and buildings designed for e-commerce fulfillment.

It’s going to grow. Numbers published on the Pacific Maritime Association’s website show that in the first quarter of 2014, the Southern California port complex increased its market share on the West Coast by 2 percentage points, to 72%. Oakland’s market share was flat and the Seattle-Tacoma gateway lost 2 percentage points to 16% market share.

Los Angeles-Long Beach already accounts for 34.4% of the U.S. container trade and 41% of containerized imports. Port growth indicates more distribution center development will be needed.

Renters, including traditional retailers and e-commerce retailers, want large warehouses of 500,000 to more than 1 million square feet. Properties capable of accommodating large facilities simply aren’t available close to the coast, so almost all of the new construction in Southern California is occurring in the Inland Empire.  Amazon has built out there, and of the 17 mega-warehouse properties under construction in the Inland Empire, seven of them have an e-commerce fulfillment component.

Compared to traditional warehouses, e-commerce facilities tend to be larger, with more height clearance and heavier flooring infrastructure to support higher stacking of goods and hanging conveyors. E-commerce facilities are also more labor-intensive, generating one job per 1,000 square feet of space, while the traditional warehouse generates one job per 3,500 square feet of space, thus e-commerce fulfillment centers require many more employee parking spaces.

As the Inland Empire grows, look for the rise of Inland ports Poway is already going strong, and Casa Grande, Arizona is going to see strong development in the coming years. East of the West – Chicago; northern and central New Jersey; eastern Pennsylvania; Dallas; Atlanta; and southern Florida and Texas are strong industrial markets.

For more information please contact Jodi Summers and the SoCal Investment Real Estate Group @ Sotheby’s International Realty – jodi@jodisummers.com or 310.392.1211, and let us move forward together.

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http://www.joc.com/international-logistics/industrial-real-estate/us-industrial-real-estate-space-premium_20140522.html?destination=node/2753506

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http://www.loopnet.com/Los-Angeles_California_Market-Trends?Trends=SalePricesFS,TotalAvailableForSaleFS,NumberOfListingsFS,TotalNumOfUnitsFS,TotalSFAvailableFS,AskingRentsFL,NumberOfListingsFL,TotalSFAvailableFL&PropertyTypes=Industrial

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SOCAL INDUSTRIAL REAL ESTATE SNAPSHOT – AUGUST 2014 – STILL NUMBER ONE

July 31, 2014 on 6:16 am | In Bravo, Charts + Statistics, Investment Opportunities, Market Snapshot, Uncategorized | 1 Comment

by Jodi Summers

Hooray for us! Los Angeles remains the number one metro for Industrial Real Estate. In 2014, asking rents for warehouse space are up, the vacancy rate is down, and new construction is marginal…all reasons for optimism.

Want more good news? The Port of Los Angeles and Burlington Northern Santa Fe Railway are advocating a $500 million rail yard near the port. They imagine a train line that whisks containers nearly 25 miles inland to Commerce.

Pundits like what’s happening and predict that Los Angeles industrial real estate should be a good market for the foreseeable future. The most recent Allen Matkins/UCLA Anderson Forecast Survey concludes that goods movement through California’s ports results in real estate optimism…and least through 2017.

Here are some recent industrial real estate highlights….

■ Employment: Currently, the twin ports account for more than 40% of all the container traffic entering the nation. The strength of our ports will see employers in the metro expanding payrolls by 2.2% in 2014, as L.A. County creates 88,800 jobs. (In 2013, 76,900 jobs were created in the market.)

■ Construction: Marcus and Millichap notes that the pace of development will slip to 1.7 million square feet in 2014, down from 2.9 million square feet last year.

■ Rent: As vacancy falls below the 5% threshold, operators are expected to elevate asking rents 5.1% to $7.27 per square foot by year-end 2014.

■ Vacancy: Space available for lease and/or purchase will dip to 4.7% in 2014.

■ Investment: Opportunities are available throughout the L.A. area industrial real estate market. For the owner/user interest rates on SBA loans are still low. Investors can target properties with fewer than 100,000 square feet, which are predicted to trade at cap rates in the low 7% range. Larger, newer assets will remain the darling of institutional investors and change hands at first-year returns modestly above 5%.

For more information please contact Jodi Summers and the SoCal Investment Real Estate Group @ Sotheby’s International Realty – jodi@jodisummers.com or 310.392.1211, and let us move forward together.

 

 

 

 

 

 

 

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http://www.marcusmillichap.com/research/researchreports/reports/2014/06/04/los-angeles-industrial-research-report

http://laedc.org/2014/07/22/e-edge-newsletter-v-18-n-29-released-july-21-2014-2/#2

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http://www.anderson.ucla.edu/centers/ucla-anderson-forecast/projects-and-partnerships/allen-matkins/summerfall-2014-survey

http://laedc.org/2014/07/22/e-edge-newsletter-v-18-n-29-released-july-21-2014-2/#2

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HARBOR TOUR – THE PORT OF LONG BEACH

July 15, 2014 on 9:55 am | In Bravo, Government, Green, New Developments, Problem Solving, Uncategorized, world | 2 Comments

by Jodi Summers

The SoCal Industrial Real Estate Blog enjoys watching the Port of Long Beach evolve.

Each year, when the Port offers free harbor tours from May to Nov. 1, we try to snag a reservation and enjoy the evolution.

Founded in 1911, the 3,200-acre Port of Long Beach is a premier gateway for trade between the United States and Asia The Port of Long Beach is one of the world’s busiest seaports, a leading gateway for trade between the United States and Asia. It supports over a million jobs nationally and generates billions of dollars in economic activity each year. Here’s how the numbers break down.

Each year, the Port handles:

More than 6.7 million 20-foot container units (TEUs)

Cargo valued at $180 billion

63.1 million metric tons of cargo

4,000 vessel calls

 

The Port’s loaded containers account for:

1/3 moving through all California ports

1/4 moving through all West Coast ports

nearly 1 in 5 moving through all U.S. ports

 

The Port comprises:

3,200 acres of land

10 piers

80 berths

66 post-Panamax gantry cranes

Shipping terminals (22)

5 break bulk (automobiles, lumber, steel, iron ore)

6 bulk (petroleum coke, salt, gypsum, cement)

6 container

5 liquid bulk (petroleum)

International ranking

Long Beach is the second busiest port in the United States

Long Beach is the 18th busiest container cargo port in the world

If combined, the ports of Long Beach and Los Angeles would be the world’s eighth-busiest port complex by container volume, after Shanghai, Singapore, Hong Kong, Shenzhen (China), Busan (S. Korea), Ningbo (China) and Guangzhou (China).

Port-related employment

30,000 jobs (about one in eight) in Long Beach

316,000 jobs (or one in 22) in the five-county Southern California region

1.4 million jobs throughout the U.S. are related to Long Beach-generated trade

 

Regional economic impacts

More than $5 billion a year in U.S. Customs revenues from the Long Beach/Los Angeles ports

About $4.9 billion a year in local, state and general federal taxes from Port-related trade

More than $47 billion in direct and indirect business sales yearly

Nearly $14.5 billion in annual trade-related wages

 

Trading partners

East Asian trade accounts for more than 90% of the shipments through the Port

Top trading partners by tonnage are; China, South Korea, Japan, Hong Kong, Taiwan, Vietnam, Iraq, Australia, Ecuador and Indonesia.

 

Top Imports

Crude oil

Electronics

Plastics

Furniture

Clothing

 

Top Exports

Petroleum coke

Petroleum bulk

Chemicals

Waste paper

Foods

Enjoy more photos @

https://www.flickr.com/photos/jodisummers/sets/72157631893190434/

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http://www.polb.com/about/facts.asp

http://lovesiliconbeach.wordpress.com/2014/06/29/cool-pix-sunse…-of-long-beach/

https://www.flickr.com/photos/jodisummers/

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GREEN MAKING GREEN – THE POLB IS NAMED THE BEST GREEN SEAPORT . MORE BUSINESS COMING OUR WAY

June 30, 2014 on 8:48 am | In Bravo, Fascinating Information, Government, Green, Problem Solving, Property Maintenance, Uncategorized | 2 Comments

by Jodi Summers

Bravo! The Port of Long Beach has been recognized as the “Best Green Seaport” in the world at the 28th annual Asian Freight & Supply Chain Awards.

The Port of Long Beach is one of the world’s premier seaports, a primary gateway for trans-Pacific trade and a trailblazer in innovative goods movement, safety and environmental stewardship. The Port is served by 140 shipping lines with connections to 217 seaports worldwide. A major economic engine for the region, the Port handles trade valued at more than $180 billion each year and supports hundreds of thousands of Southern California jobs.

In 2005, the Port of Long adopted a “Green Port Policy,” focusing reducing its impact on the community, wildlife and the environment…with unmitigated success. The POLB is proud of the dramatic improvement in air and water quality thanks to an array of environmental initiatives that include the Clean Trucks, Green Flag Vessel Speed Reduction and Technology Advancement programs.

“This is an honor to be named the AFSCA’s Best Green Seaport. The Port of Long Beach has made great strides in reducing air pollution and improving water quality, and we are committed to doing even more,” said Long Beach Board of Harbor Commissioners President Doug Drummond.

The Port’s growth policy has had tremendous results. The total number of containers handled at the ports of Long Beach and Los Angeles in May increased by 5.6% on a year-over-year basis to 1,288,652 TEUs (twenty-foot equivalent units). This was the 14th consecutive month of at least 1 million TEUs for the San Pedro Bay ports.

The Port of Long Beach’s Green Port Policy is an aggressive, comprehensive and coordinated approach to reduce the negative impacts of Port operations. The Green Port Policy, adopted in 2005, serves as a guide for decision making and established a framework for environmentally friendly Port operations. The policy’s five guiding principles are:

  • Protect the community from harmful environmental impacts of Port operations.
  • Distinguish the Port as a leader in environmental stewardship and compliance.
  • Promote sustainability.
  • Employ best available technology to avoid or reduce environmental impacts.
  • Engage and educate the community.

The Green Port Policy includes six basic program elements, each with an overall goal:

  1. Wildlife – Protect, maintain or restore aquatic ecosystems and marine habitats.
  2. Air – Reduce harmful air emissions from Port activities.
  3. Water – Improve the quality of Long Beach Harbor waters.
  4. Soils/Sediments – Remove, treat, or render suitable for beneficial reuse contaminated soils and sediments in the Harbor District.
  5. Community Engagement – Interact with and educate the community regarding Port operations and environmental programs.
  6. Sustainability – Implement sustainable practices in design and construction, operations, and administrative practices throughout the Port.

The “Green Seaport” honor of the Asian Freight & Supply Chain Awards is reserved for ports that have “demonstrated compliance with green freight transport regulations and environmental standards; investment in green initiatives, technology and action plans; incorporation of environmental requirements in strategic planning; use of a policy on reducing fuel emissions from freight handling operations; and ongoing training of staff in green initiatives and in measures to lower carbon footprints.”

The awards are based on an annual poll of thousands of professionals in freight transportation services. Awards also are given in many categories, including best shipping lines, container terminals, air cargo terminals, airports and rail haulers.

Find out more about the Port of Long Beach’s environmental programs at www.polb.com/environment.

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http://www.polb.com/environment/green_port_policy/default.asp

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