The Port Authority of New York and New Jersey (PANYNJ) this week announced the signing of a long-term ground lease agreement with Aeroterm for the development of a state-of-the-art $145 million, 350,000-square-foot cargo facility on more than 26 acres at John F. Kennedy International Airport (JFK).
The first new cargo facilities built at JFK in two decades, the Aeroterm project will demolish two obsolete facilities at JFK and build an expanded, best-in-class cargo facility that will incorporate advanced technology systems and feature ramp capacity to three large modern air cargo freighters simultaneously. It will also have more than 50 dock doors for the efficient transfer and tracking of goods through the facility.
Demolition of the existing facilities is scheduled to begin in September 2021, with the new project expected to be completed by the end of 2023.
“This cargo modernization program is a critical step forward in the overall redevelopment of JFK airport, at a time air cargo is vital to our regional economic vitality,” said Kevin O’Toole, PANYNJ chairman. “We look forward to working with Aeroterm to raise our cargo capabilities to state-of-the-art standards.”
