FedEx Express to expand cargo footprint at Miami International
11 / 04 / 2019
Miami International Airport
Parcel giant FedEx Express is to expand its logistics footprint at Miami International Airport (MIA), the fourth largest cargo hub in the US.
Property company Aeroterm, which has developed a number of airport cargo facilities across the US, has reach an agreement with airport landlord Miami-Dade County for the expansion of its air cargo facility at MIA.
Aeroterm leases the MIA facility to FedEx Express, a development completed in 2004 with a 25-year lease on 23.4 acres.
Aeroterm will extend the ground lease to 2050 and expand the premises by approximately 6 acres of additional land, on which it will construct the building expansion.
Alexi Lachambre, vice president of development for Aeroterm, said: “As a world leader in air cargo, FedEx is a key customer in our portfolio expansion. We look forward to delivering this facility in record time to accommodate the growing business needs of FedEx.”
The Florida airport saw 2018 cargo volumes increase by 2.8% to 2.3m tons as three new cargo carriers launched operations. FedEx is one of the largest cargo carriers at MIA.
Lachambre added: “Miami is a top gateway airport and key entry point for perishables and other high-value goods from South America. We look forward to continuing our long-standing relationship with FedEx and the airport to support local job growth and improve airport operations.”
Aeroterm is currently working on air cargo developments at New York’s JFK airport, Cincinnati/Northern Kentucky International Airport, and the latest phase of an air cargo development at Chicago’s O’Hare International Airport.