Chicago O’Hare cargo center lease announced
Aeroterm, an investor, developer and manager of airport industrial property in North America, has reached an agreement with Alliance Ground International to lease 108,000 square feet (10,000 square meters) of new air cargo handling facilities at Chicago O’Hare International Airport within the first phase of development of the Northeast Cargo Center.
In addition to cargo warehouse and office facilities, AGI will lease two B747-8F ramp positions. This first phase of development includes construction of a 428,000-sq.-ft. (40,000-sq.-m.) building with cargo and office space and 800,000 square feet (74,000 square meters) of adjacent aircraft ramp.
“Aeroterm is pleased to have AGI serve as an anchor tenant in the first phase of development,” said Erin Gruver, executive vice president of acquisitions and development for Aeroterm. “This new state of the art cargo facility will allow AGI to serve the needs of their airline and airport clients at Chicago O’Hare more effectively and efficiently.”
The Northeast Cargo Center is a modern air cargo handling facility development to be constructed in three phases totaling 820,000 square feet (76,000 square meters). Aeroterm reached an agreement with the City of Chicago to develop these facilities in May 2012. Aeroterm will also construct a new aircraft-parking ramp capable of accommodating new-generation aircraft, including the Boeing 747-8 series. All aspects of the development will incorporate green planning, design and construction practices under the guidelines of the Chicago Department of Aviation Sustainable Airport Manual, including green roof space.
The US$200-million (145.1-million-euro) project is expected to create approximately 1,200 construction jobs, 1,200 permanent on-site cargo jobs and 10,000 regional jobs related to this development.
Aeroterm owns and manages approximately 1 million square feet (93,000 square meters) of on-airport cargo facilities at O’Hare.
“AGI is excited to be part of the first airside multi-tenant cargo facility to be developed at Chicago O’Hare in the last 20 years. The new facility demonstrates a joint willingness to significantly invest in air cargo infrastructure at ORD by both Aeroterm and the City of Chicago,” said Jared Azcuy, chief operating officer for Alliance Ground International.