Port Canaveral’s Real Estate Business Remained Steady During Fiscal Year 2020
By Space Coast Daily // December 24, 2020
Cargo operations are a significant component of the Port’s real estate segment
BREVARD COUNTY • PORT CANAVERAL, FLORIDA – Port Canaveral’s real estate business remained steady during FY 2020 despite the economic challenges posed by the global pandemic.
Last year, revenues from real estate accounted for approximately eight percent of the Port’s total earnings.
There are approximately 70 commercial tenants on Port property operating a range of businesses. The largest category of these is maritime-related professional services and support businesses that are actively engaged in shoreside and waterside operations at the Port.
Cargo operations are a significant component of the Port’s real estate segment.
Commercial cargo companies and terminal operators are among the tenants leasing the largest total acreage at the Port – approximately 160 acres, and who have been growing the volume and type of cargoes transiting Port Canaveral.
The Port’s diversity is shown in its vast array of tenants ranging from the commercial space industry, restaurants, commercial fishing businesses, recreational marinas, and U.S. government agencies.
Growth continues at the Port with several lease renewals or extensions expected during the course of next year. The Port has a finite footprint on the Space Coast, but with its active and diverse operations, it delivers a powerful economic impact on the entire state of Florida.