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Seattle & Northwest   /   January 27, 2021

Paul Bubny
By: Paul Bubny

Runway-Adjacent 32.5M-CF Cold Storage Project Locks Leases

With 32.5 million cubic feet of capacity, a 700,000-square-foot climate-controlled warehouse facility at the world’s sixth-busiest cargo airport, Ted Stevens Anchorage International Airport, will improve shipping to and through Anchorage, create jobs and indicate Alaska is open for business, says Alaska Governor Mike Dunleavy. And, Alaska Cargo and Cold Storage LLC and the state recently executed a 55-year lease agreement at the warehouse, marking a major milestone in the project.

Located on the Great Circle Route, the airport is within 9.5 hours of 90 percent of key markets in Asia, Europe and North America. Illustrating this importance, it was the busiest airport in the world on select days in 2020 during COVID-19 air travel disruptions.

Although a limited supply of warehouse and transfer facilities at the airport has characteristically designated its air cargo support as “gas-and-go”, the development of the warehouse ─ located runway-adjacent and within a Foreign Trade Zone ─ will transform it into a key cold chain transfer hub for global air cargo carriers.

In September 2020, the U.S. Department of Transportation awarded the Alaska Energy Authority a $21 million BUILD grant to administer in support of the ACCS project. The facility will be constructed in phases. The first phase will be roughly 190,000 square feet with plans to begin construction in the second half of 2021.

CBRE’s David Norrie and Katrin Gist as well as Paul Schilling of Schilling Commercial Real Estate will market the project on behalf of ACCS.

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About the Author

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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