Category Archives: News & Updates
AFCO Acquires Ground Lease to Develop Air Cargo Facility at Richmond International Airport
AFCO Acquires Ground Lease to Develop Air Cargo Facility
AFCO received approval from the Capital Region Airport Commission on AFCO’s purchase of rights to a 30-year ground lease from another developer at Richmond International Airport (RIC), Virginia. AFCO will develop a 51,000 square-foot air cargo facility in Cargo Area 6 of the Airport. The cross-dock air-freight trucking facility will include 41,000 square feet of cargo handling warehouse and 10,000 square feet of office space with tug road access to the apron. Construction will be completed in July 2000. The facility is 60% pre-leased to BAX Global and HBI Priority Freight. The project was financed with Special Transportation Facility Industrial Revenue Bonds....AFCO Acquires 4th Air Cargo Facility at Seattle-Tacoma International Airport
AFCO Acquires 4th Air Cargo Facility at Seattle-Tacoma
AFCO completed the acquisition of a 35,000 square-foot air cargo facility at Seattle-Tacoma International Airport (Sea-Tac) from Ray Balanos Properties. The facility was built in 1998 and includes 25,000 square feet of warehouse space, 10,000 square feet of office space and 57,000 square feet of landside parking and loading area. It is 100% leased by Airgo Freight, Inc., Golden Globe Transport, and Petro Card Pacific Express. AFCO previously acquired two cargo facilities at Sea-Tac in 1995 and a third cargo facility in March 1999. With the purchase of this 4th facility AFCO now owns and operates 152,000 square feet of warehouse and office space and 193,000 square feet of apron space at the Airport....AFCO Acquires Three Cargo Buildings and Agrees to Further Development at Pittsburgh International Airport
AFCO Acquires Three Cargo Buildings
AFCO will begin development and construction management services of a new Fixed Base Operation (FBO) in the Business Aviation Center to be built at Pittsburgh International Airport. The team of AFCO, led by Frank Chambers and American Port Services (AMPORT) was selected by Allegheny County, Pennsylvania in 1997 to develop the FBO. AMPORT of Teterboro, New Jersey is one of the largest private airport, seaport and automotive processing facilities operators in the United States and will be handling the leasing and management of the FBO. AFCO will be developing two hangars at the FBO and will oversee the construction of AMPORT development of the remaining FBO facilities. Baker and Associates of Caraopolis, Pennsylvania is the architect for the FBO, which will total over 107,000 square feet and include a passenger terminal, flex office building, 2 hangars and a vehicle maintenance facility. The site will also have 375,000 square feet of the apron. Construction will begin in the...AFCO Closes on Purchase and Development of Cargo Facilities at Baltimore-Washington International Airport
AFCO Closes on Purchase and Development
AFCO has finalized the purchase of Cargo Buildings B, C, and F at the Air Cargo Complex (ACC) with the right to develop and operate the Midfield Cargo Complex (MCC) at Baltimore/Washington International (BWI) Airport. Major tenants include Delta Air Lines, Emery Air Freight, Federal Express, Northwest Airlines, Southwest Airlines, and the United States Postal Service. The first development in Phase I of the MCC area is expected to be completed during the first quarter of 2001 and will include a minimum of a 60,000 square-foot cargo facility, 180,000 square feet of aircraft ramp/apron and associated truck/auto parking. The project will be phased with warehouse space expanding to 358,000 square feet, and ramp and additional parking space expanding to over 808,000 square feet. Construction of additional cargo facilities in Phase II of the MCC area is expected to commence during the fourth quarter of 2001 with a completion date during the third quarter of 2002. In January...AFCO Acquires Air Cargo Facility at Seattle-Tacoma International Airport
AFCO Acquires Air Cargo Facility
AFCO executed a contract for the purchase of a 24,000 square-foot air cargo facility at Seattle-Tacoma International Airport (Sea-Tac). The facility is used for the transfer and storage of cargo and the maintenance of ground support equipment (GSE). The facility, built in 1983, contains freezer and cooler space, freight scales, a fuel dispensing system for diesel and automotive gasoline, and multi-tenant warehouse and office space. The site contains an additional 14,000 square feet of outside GSE storage area and 800 square feet of outside loading dock. Airport Drayage Company, the building’s present owner, will be leaving the facility. A new lease has been finalized with SEATAC Express bringing the facility to 90% occupancy. Existing tenants include the United States Department of Agriculture and Southwest Airlines. Lease negotiations are continuing with other potential tenants. AFCO has operated two air cargo buildings totaling 104,000 square feet with 193,000 square feet of the apron at the North Airfield Cargo Complex at...AFCO Acquires Air Cargo Facilities at Dayton International Airport
AFCO finalized the purchase of cargo facilities totaling over 125,000 square feet located at Dayton International Airport from the City of Dayton, Ohio. The buildings include a 35,000 square-foot sorting and distribution facility occupied by Federal Express, a warehouse and office building totaling 40,000 square feet currently occupied by Emery, MSAS and the U.S. Customs Service, and a 70,440 square foot warehouse and office building occupied by Federal Express, John V. Carr, Fritz Companies, LEP and Tower Group International.
Emery, Federal Express, and the U.S. Customs Service are currently tenants at other AFCO facilities throughout the United States. Both the 40,000 square-foot and 70,440 square-foot buildings can have their warehouse space expanded by 10,000 square feet....
AFCO Announces Opening of Air Cargo Facility at Albany International Airport
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