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Engines of opportunityList of major airport centric projects represented by JLL across the U.S.
JFK Logistics CenterSpringfield Gardens, NY
Completed in 2003, the JFK Logistics Center project is the only class “A” freight and logistics facility located at JFK International Airport. This premier facility consists of four buildings totaling 526,000 s.f. on a 26 acre site which features state of the art security, an on-site café and parking. It houses tenants such as the GSA, TSA, KWE, Nippon Express, UTi United States, Inc., DB Schenker and Forward Air.
Location• Adjacent to JFK, one of the world’s leading international air cargo centers• Shuttle bus departs every 30 minutes to public transportation
Project• 24’ clear height• Large exclusive truck courts• Fully fenced and gated 24/7/365 facility with security guard house• Traffic light entrance & exit plus secondary “exit only” west gate back to JFK• Interior staircase between office and warehouse
Opportunity45,051 S.F. for lease as of June 1, 2013
Proximity to JFK0.25 miles
Reid J. Berch [email protected]
+1 631 962 2897
Goodman Logistics CenterOakland, CA
Goodman Logistics Center Oakland is the premier development in Northern California’s East Bay. The ±374,725 s.f., 18.64 acre project is in the Port of Oakland submarket and located in the Oakland Airport Business Center, a business-friendly enterprise zone and eco-conscience industrial city just east of the San Francisco CBD with excellent access to I-880, Bay Bridge and freeways.
Location• Close to 4 interstates and 5 US highways• Oakland International Airport is served by 14 domestic/international passenger carriers, flying to 39
nonstop destinations • Port of Oakland is 7.4 miles away• In the western terminus of the Union Pacific and BNSF railroad lines
Project• Zoning: Business Park Interior / Industrial• LEED certified shell• ESFR and 32 foot clear height• Cross dock loading with 92 dock high loading doors and 39 trailer drop spaces
Opportunity• Largest state of the art distribution facility available within 10 miles of the port• Located in Oakland’s Enterprise Zone• Long term lease available• Direct access to overweight container route
Proximity to OAK0.25 miles
Jason [email protected]
+1 925 944 2168
Airports play a major role in the movement of goods around the world. From the newest fashions flown in bulk from China to the one pair of shoes overnighted to your door, airports make the modern economy possible. However, today’s environment is challenging for airports and owners of aviation-centric real estate. High fuel costs, stringent security requirements, regulations and weak global trade have created turbulence with overall volumes shrinking for the last two years. Even so, major U.S. air cargo hubs remain potent generators of real estate demand. While, short-term growth prospects for aero centric properties may be down, in the long run these are critical assets that should not be ignored by both investors and occupiers.
Prologis LAX LogisticsLos Angeles, CA
Prologis LAX Logistics Center offers the finest dock high units at LAX. Rear loaded unit sizes range from 7,000 – 50,000 s.f. with unsurpassed truck access for tractor trailers. Units offer a minimum of 1 9x10 truck door for each 2,000 s.f. of warehouse floor area. The units are sprinklered, 22’ minimum clear height and offer expansion and contraction within the park.
Location• 1/8th of a mile to LAX tarmac and U.S. customs• Immediate access to the 405/105 Freeways• As close as you can get to LAX without being “on the ramp”
Project• 316,000 s.f. in a two-building complex• 180 foot central truck court / auto parking is separate from truck court• Owned and managed by Prologis
Opportunity• Ideal for international/global logistics and air/ocean freight forwarding companies• Unsurpassed truck access in both facilities
Proximity to LAX500 feet
Luke [email protected]
+1 424 294 3464
Airport connections
Miami (MIA), with its deep connections to South and Central America, is the market we feel will provide the most opportunities to capitalize on air-cargo related demand. The airport and surrounding businesses control the food and flower trade and the lack of a single dominant carrier makes room for lots of competition and demand for real estate. The market’s biggest challenge is and will continue to be land constraints. With jet fuel prices high, air cargo flows will remain somewhat precarious – so it will be important that real estate costs do not crowd out the profits of industrial users.
Chicago (ORD) scores second highest in the JLL PAGI Airport index. And although growth in cargo volumes has been lackluster over the last 18 months, the airport and the surrounding market have a number of enduring strengths. First, the airport is a major international gateway, and with that comes diversification in air carriers. Added to this are Chicago’s large population base, central geographic location, complimentary rail assets and enormous industrial market. These all combine for excellent demand generation near O’Hare. Significant demand exists for modern space near the airport, but rents are not yet high enough to justify demolition and redevelopment.
Memphis (MEM) has huge upside potential in the long term. It is the prototypical integrator-dominated market with over 99 percent of the cargo volume carried by FedEx. The industrial real estate market exists for the most part within a 15-minute drive of the airport and over a third of the space is ‘big box.’ Success here is all about connectivity; between the massive confluence of Class I rail lines and FedEx’s ‘SuperHub,’ Memphis is in the sweet spot – both for traditional and e-commerce distribution. FedEx continues to offer better and more complete service to businesses, acting as a ‘super-3PL’ able to deliver on all aspects of the supply chain.
Proximity to SEATAC3.7 miles
+1 425 974 4023
Stryker Business CenterKent, WA
“Be at the Center” with a new distribution or manufacturing facility at Stryker Business Center, the newest, Class A industrial park being developed by IDS and Clarion Partners. This 72 acre project will feature up to six new speculative and build-to-suit facilities totaling 1.4 million square feet; state of the art industrial facilities in a rare, central location.
Location• Midpoint between Port of Seattle and Port of Tacoma• Immediate access to three major freeways: 2.4 miles to I-5, 2.1 miles to SR 167 and 3.6 miles to I-405• Centered in Kent Valley Industrial market, Puget Sound’s most prominent market
Project• Master planned, all entitlements in place• Phase I: two state-of-the art distribution facilities featuring 120,599 s.f. and 318,195 s.f. with occupancy
by February 2014• Phase II: ±45 acres for Build-to-suit/lease
Opportunity• Rare, in-fill site; build-to-suit• Adjacent to greater Seattle to the north and greater Tacoma to the south• Ample trailer and employee parking
Airport markets to watch
Key takeaways from 2014 Airport Outlook:JLL’s PAGI U.S. Airport Outlook provides analysis of the current and future impact of economic developments, cargo volumes, trade flows and shipping patterns on industrial real estate surrounding the nation’s top cargo airports.
Aerotropolis Logistics Park Memphis, TN
Superior location at the Southwest quadrant of I-240 and Perkins Road, Aerotropolis Logistics Park allows unmatched connectivity to all modes of transportation, offering immediate access to FedEx world hub, UPS regional hub, rail-intermodal yards and Port of Memphis. The park is owned by Johnson Development.
Location• Busiest cargo airport in North America• Memphis is home to the FedEx world hub with the latest drop-off time in the U.S.• Memphis has 3rd busiest trucking corridor and 4th largest inland port in the U.S.• Five Class I rail lines with over $1.2B spent in the past decade on rail infrastructure
Project• 113 acre site • Planned Development approval for up to 1,200,000 s.f. of Class A industrial space• Foreign Trade Zone (FTZ) eligible, New Market Tax Credit eligible and strong PILOT potential
Opportunity• Long term lease• Build-to-suit and design/build • Land sales
Proximity to MEM3 miles
Russ [email protected]
+1 901 261 2600
Air freight comprises only 2.0 percent of total cargo volume being shipped on a global basis. However, it represents 35.0 percent of the value of all commodities ($6 trillion in all) being shipped throughout global supply chains.
Perishable items make a case for the higher cost of air freight, and biologics are helping drive momentum. Cold storage space needs are on the rise.
How consumers shop is causing the global marketplace to become increasingly ‘connected’. International order fulfillment will benefit the industry and elevate demand for airport-centric industrial space.
Not all airport markets are created equal, and this can be traced to an overall market’s maturity. Rent premiums are more common in in-fill markets than emerging logistics corridors.
Chicago O’Hare earns our highest index score and is the airport with the best near-term prospects for real estate. The greater market offers six major railroad connections, and is a one-day drive-time to nearly a third of North American consumers.
Wilmington Air ParkWilmington, OH
This 2,000 acre fully functioning airport features over 3 m.s.f. of offices, warehouses, hangars and other facilities, as well as two runways 10,701’ x 150’ and 9,000’ x 150’. It can accommodate CAT III full instrument approach for the largest aircraft of today. Flexibility in landing schedules, over 100 acres of apron space and on-site aircraft maintenance.
Location• Access to I-71 via US 68 or Ohio Route 73,
midway between Cincinnati and Columbus• 3 international airports in a 60 mile radius• Strategic midwestern location – 1 Day
Trucking to 60% of US population• FTZ status
Project• 10 buildings totaling ±2m s.f. available of
office, warehouse & manufacturing facilities for lease
• 255 acre development site available for build-to-suit opportunities of any size
Opportunity• Perfect location for aviation manufacturing,
research & development, flight testing, air cargo & logistics opportunities
• Build-to-suits/leases • Very aggressive incentive programs
Proximity to ILN on tarmac
David [email protected]
+1 513 252 2166
Airport I-10 Business Park Phoenix, AZ
Airport I-10 Business Park is a new Class “A” industrial development located minutes from Phoenix Sky Harbor Airport developed by Wentworth Property Company and Clarion Partners. This ±58 acre project features five (5) buildings totaling 920,584 s.f.
Location• 3000 South 24th Street, Phoenix, AZ 85040• Direct access to I-10 and I-17 Freeways
Project• Five (5) buildings totaling 920,584 s.f. on
±58 acres • Minimum 30’ clear ceiling height• Dock high and grade level loading; ±100%
concrete, 140’ - 200’ truck courts• ESFR fire sprinklers • Four (4) 200’ – 220’ bay depth with 50’
column spacing (60’ speed bays) buildings • One (1) 360’ cross dock with 60’ column
spacing (60’ speed bays)
Opportunity• First major development in the Airport
submarket in the last five (5) years• High-end corporate image, institutional
quality development• Outstanding airport submarket location with
direct access to all transportation • Brand new cross dock and rear loaded
buildings• Completion 3Q 2014
Proximity to PHX3.5 miles
+1 602 282 6298
161 Distribution CenterDallas - Fort Worth, TX
This 24.57 acre site is conveniently located just off DFW property with great access to SH 183 and SH 161. Opportunity to construct a distribution location with direct access to the airport and centrally located in the DFW metro area.
Location• Adjacent to DFW International Airport• Central location within DFW Metroplex area• Direct access to state highway 161 and state highway 183 and excellent
access to state highway 114 and state highway 360
Project• Master planned industrial campus• Valley view lane frontage• Double freeport available• 380 program available• Zoned for industrial distribution
Opportunity• Build-to-suit• Land sale
Proximity to DFW immediate
Michael [email protected]
+1 214 438 6219
Former Radix BuildingSalt Lake City, UT
The former Radix building is located just off of I-80 in a very close proximity to the Salt Lake International airport. It is 56,614 s.f. and can be used for Office, Flex, or Lab space.
Location• Nearby Salt Lake International Airport• Direct Access to I-15• Freeway visibility
Project• 54,614 s.f. available divisible to 2,500 s.f.• Office / Flex or Lab use • 3 roll-up doors
Opportunity• Tenant improvement allowance available• Open layout ideal for call center• Flex/Lab space easily converted to office
Proximity to SLC3 miles
Wick [email protected]
+1 801 456 9523
Read our latest U.S. Airport Outlook 2014http://www.us.jll.com/AirportOutlook
Contact informationCraig S. Meyer, SIORInternational DirectorPresident, Industrial Brokerage – Americas+1 424 294 3460 | [email protected]
©2014 Jones Lang LaSalle IP, Inc. All rights reserved. All information contained herein is from sources deemed reliable; however, no representation or warranty is made to the accuracy thereof.
www.us.jll.com/industrial
Port, Airport & Global Infrastructure (PAGI) servicesTransportation hubs evolve and grow as fast as the world turns. Emerging populations and shifting patterns in the global movement of goods and cargo have accelerated new trends in logistics, technology, transportation and security. Plus, the demand for worldwide shipping environmental sustainability will only continue to grow. All of which magnifies the importance of real estate to international distribution channels, and dictates that yesterday’s approaches won’t solve tomorrow’s challenges. Our experienced team of aviation and maritime real estate experts draw upon deep, real-time knowledge of the trends, challenges and opportunities surrounding seaport and airport infrastructure and their connectivity to the real estate equation. Working alongside the firm’s integrated service lines, our PAGI practice brings leadership, strategic relationships and service excellence to port and airport interests worldwide.
PAGI puts out the following reports: Seaport Outlook and Airport Outlook
