Vancouver invests in air cargo
14 / 03 / 2022
By Rebecca Jeffrey
Photo: Vancouver Airport Authority
Vancouver International Airport (YVR) is seeking a partner for investment, completion of construction and lease-up of a 300,000 sq ft facility that is set to boost air cargo business.
YVR has selected Cushman & Wakefield as its exclusive advisor to secure a partner for the Airport Commerce Centre near the airport’s main terminal on Sea Island.
The existing facility boasts 300,000 sq ft of total potential floor area upon completion, contiguous floor plates of over 60,000 sq ft, generous ceiling heights and floor-load potential.
The redesigned Airport Commerce Centre, adjacent to YVR’s Cargo Village and near the US border, has multimodal potential and can facilitate air cargo connections with major future developments on Sea Island.
The facility was initially designed to create additional capacity in utilities when the airport was experiencing double-digit growth. With a view to optimise the land on Sea Island, YVR is now seeking to drive value from its infrastructure and land assets to diversify revenues and grow its core airport business while supporting regional economic development.
“We’re exploring new and innovative ways to strengthen our role as a diverse global hub while aligning YVR to the future growth and needs of British Columbia. This includes unlocking economic development and logistics opportunities on Sea Island that will benefit our community and the economy that supports it,” said Bill Bakk, vice president, business development at Vancouver Airport Authority.
“Under our current land-use plan and through our work with Cushman & Wakefield, we look forward to welcoming new businesses to the airport and adding more points of connection for our passengers, workers and community.”