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12/20/22
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Burrell Aviation LLC has awarded Cushman & Wakefield the marketing assignment for a significant portfolio of airport properties suitable for near-term development for a variety of aviation related business. The portfolio represents among the most strategically located regional and international airports in the United States. A division of The Burrell Group, Burrell Aviation LLC is a private sector capital investor working alongside its partner airports in an effort to accelerate delivery of next-generation aviation infrastructure.
Ranging from four to 120 acres, the Burrell Aviation airport sites have each undergone pre-development efforts to minimize any project timeline, allowing airport customers and operators to activate facilities much sooner than traditional airport projects. The sites are intended to satisfy the shifting dynamics within the U.S. air cargo and logistics chain as well as the demands in corporate aviation and other aviation sectors. The locations will allow buildable space ranging from 25k sf to over 250k sf and are dedicated for a variety of non-passenger airport activity, including but not limited to air cargo, maintenance repair and overhaul (MRO), corporate hangar, aerospace and defense, integrated logistics, third-party logistics (3PL), cold storage, and emerging technologies.
The portfolio includes airport properties in 17 states across the country, including Alabama, Alaska, Arizona, California, Colorado, Florida, Georgia, Idaho, Indiana, Louisiana, Massachusetts, Mississippi, Nebraska, New Mexico, Oklahoma, South Carolina, and Texas.
Burrell Aviation recently formalized a national design-build Master Service Agreement with Lemartec, one of the most highly recognized design-build construction management firms. Lemartec serves as MasTec’s vertical construction arm with a unique focus in the Aviation & Transportation sector and other commercial market sectors. Together, the companies will develop these airport projects on a build-to-suit basis that will increase access for air cargo companies and allow non-hub airports to expand their economic potential and spur growth in their local communities. MasTec companies have been involved in some of the largest and most complex infrastructure projects across the country.
A specialized Cushman & Wakefield Aviation Practice Group comprising Kent Hindes, Dorota Skrzypek and Sean Kelly, which offers extensive experience and skill in aviation commercial real estate, is leading the marketing efforts for the portfolio. The properties are currently being offered for lease on a build-to-suit basis.
“Modern air cargo and logistical service locations positioned on airports have become increasingly crucial for the supply chain and speed to delivery. Through long-term ground leases, Burrell Aviation has strategically obtained control of these prime land sites the past few years and during the pandemic, as focus on the U.S. supply chain and consumer reliance on e-commerce have taken off,” said Kent Hindes, Managing Director.
According to the recent Boeing World Air Cargo Forecast 2022-2041 report, the U.S. domestic air cargo market, the world’s largest, is projected to grow at an average annual rate of 4.3% during the next 10 years. Through the first eight months of 2022, the U.S. domestic air cargo market is up nearly 16% compared to pre-pandemic 2019.
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