FedEx will serve as the anchor tenant in the Class A Building
CINCINNATI, OH, April 9, 2019 – Aeroterm, a leading owner and developer of on-airport cargo facilities, broke ground on a new Class A, 50,400 square foot, multi-tenant facility at Cincinnati/Northern Kentucky International Airport (CVG). The LEED certified, energy efficient building features insulated pre-cast concrete panels and will be used for airside cargo operations. The facility can accommodate cargo, GSE users, and other terminal support users such as flight kitchens or commissaries.
FedEx will serve as the anchor tenant for the facility. There is currently 12,000 SF of vacancy for an additional one or two tenants.
“The Airport’s ideal central location and strong infrastructure make this development project an excellent addition to our Aeroterm portfolio,” said Alexi Lachambre, Vice President of Development. “We look forward to our continued partnership with CVG and FedEx to support their growing infrastructure demands.”
There has been a strong increase in passenger traffic, belly cargo and GSE support at CVG Airport in recent years. In 2018, for the first time in its history, CVG experienced annual cargo tonnage of more than 1.2 million tons (2.4 billion pounds), an increase of 19.6 percent over 2017. Amazon’s new Prime Air cargo hub at CVG will be completed in 2025. DHL also operates a global hub out of the airport.
The new Aeroterm facility at CVG will be completed in November 2019.
In addition to its endeavors at Cincinnati/Northern Kentucky International Airport, Aeroterm is currently working on air cargo development at John F. Kennedy International Airport, Miami International Airport, and the latest phase of an air cargo development at Chicago’s O’Hare International Airport.
Aeroterm is one of the three main divisions of real estate operator Realterm, a company that capitalizes on durable insights into the supply and demand of real assets through the global supply chain. Its Aeroterm arm manages the largest high flow-through on-airport logistics real estate portfolio in North America. Aeroterm has built a reputation for understanding the dynamics of the air cargo business coupled with long experience in complex airport transactions. Its market presence gives Aeroterm the financial capacity to undertake large, long-term projects, while its flexibility allows it to customize those projects to suit individual client requirements for efficient utilization.