Bartow McDonald IV, an advisor with Sperry Van Ness Florida, reads the tea leaves about how the expansion of the Panama Canal affect commercial real estate and other business ventures in port cities of the Southern United States, especially in Florida. Bartow believe there is great opportunity in the expansion of services in both port cities and cities near ports like Ocala. Bartow’s article appears in the Ocala Star Banner.
Expansion of Panama Canal could be a boon for Ocala
The expansion of the Panama Canal, dubbed “Panamax,” will significantly affect trade routes and supply chains for generations to come. Florida, including Ocala, business and commercial real estate stand to benefit greatly as our state becomes more incorporated into global supply chains.
What is Panamax?
Panamax is the term given to the expansion of the lock systems located along the Panama Canal scheduled for completion in 2015. The idea here is that larger locks allow larger ships to transport exponentially larger quantities of product at less cost. According to David Hummels, professor of Economics at Purdue University, ocean shipping constitutes 99 percent of worldwide trade by weight and volume. In the big picture, scale clearly matters.
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