Cargo developer lands airport deal in Bogota
04 / 02 / 2010
BOGOTA airport is handing over its cargo infrastructure to US-based cargo facility developer Lynxs Group to manage and operate it. The US-based private developer is taking over infrastructure and land valued at $125 million – $135 million, which makes it one of the largest cargo infrastructure projects on the planet.
The project consists of Bogota’s existing international cargo terminal, a 27,820 sq m building which is being renovated in a two-stage process, and two new facilities. The airport’s two existing domestic freight facilities of 8,679 and 9,311 sq m respectively will be demolished in the coming months to make way for a new passenger terminal. They are being replaced with a recently completed 29,665 sq m building (with 18,400 sq m of warehouse space) and a 17,355 sq m facility that is due for completion by December.
The airport company, which has so far managed the cargo area itself, decided to bring in a specialist developer with expertise in cargo while it concentrates on the new passenger terminal that is now taking shape at Bogota, said Robert Althuis, partner in Lynxs.
All current users of Bogota’s domestic terminals will be relocated into the new structures. In addition, there is a significant number of operators that are currently located off airport, said Althuis.
“We think the warehouse is going to be 100 percent leased. There is a lot of pent-up demand here, and a lot of potential for organic growth,” he added.
Government agencies like customs, which so far have been scattered all over the airport and beyond, will be consolidated in the cargo area’s new office space.
The agreement is for 17 years, but Lynxs stands to get another 12 years if Opain SA, the airport company, obtains a new concession for 12 more years.