Brief | Future Cities

Emerging Industrial Markets: Florida I-4 Corridor

Orlando city skyline aerial
The I-4 Corridor from Orlando to Tampa is rapidly becoming Florida’s statewide distribution hub. A wide range of industrial occupiers have been drawn to this area to help them meet rising e-commerce demand. The I-4 Corridor’s central location within the nation’s third most populous state, coupled with strong demographics and the need for suppliers to store more product closer to consumers, makes it one of the most attractive secondary industrial markets in the country for investors.
Mike DiBlasiManaging Director, Tampa

Demographics

More than 5 million people live within 50 miles of Lakeland, the Florida I-4 Corridor’s central point, with a projected growth rate of 9.5% over the next five years—the highest of any region in the Southeast. The important 18-to-34 age cohort accounts for more than 24% of the total population. Within 250 miles, occupiers can reach 21 million people or 8.3 million households.

Figure 1: I-4 Corridor Population Analysis



Source: CBRE Location Intelligence.

The local warehouse labor force of 70,000 is expected to grow by 8.6% over the next decade, according to CBRE Labor Analytics. The average hourly wage for a non-supervisory employee in Central Florida is $13.15, 6.3% lower than the U.S. average and the lowest in the nation.

Figure 2: I-4 Corridor Warehouse & Storage Labor Fundamentals



Source: CBRE Labor Analytics.

Emerging Industrial Markets

Spotlighting markets across North America that offer demographic, logistics and incentives advantages for industrial investors and occupiers

Contacts