Manchester-Boston Regional Airport and Aeroterm To Develop Multitenant Cargo Facility

MANCHESTER, N.H., Feb. 9, 2021 /PRNewswire/ -- MANCHESTER-BOSTON REGIONAL AIRPORT ("MHT") and Aeroterm have announced that they have entered into a ground lease to develop a multitenant cargo facility at the Airport over the next three years.

The new building will provide a convenient access point for cargo companies to reach all areas in Northern New England as well as northern Massachusetts and the Greater Boston Area. Aeroterm, MHT's partner in the project, is an expert in facility-related services to airports across North America and has a reputation for understanding the air cargo market and building efficient cargo facilities.

"We are excited about the potential this facility will add to our cargo handling capabilities," said Airport Director Ted Kitchens, A. A. E. "With close to four million additional square feet of distribution centers planned within 20 miles of MHT, this cargo facility will allow Manchester-Boston Regional Airport to leverage our all-weather runway approach capabilities to efficiently move e-commerce to the five million customers that live within two hours of our Airport."

Kitchens said that MHT has had two back-to-back record-breaking years of cargo volumes and hopes to increase this even more through the partnership with Aeroterm.

"Coming off two record-high years for cargo, this new facility will help propel the Manchester-Boston Regional Airport towards even more record-breaking growth in cargo activity," added Manchester Mayor Joyce Craig. "This partnership has the ability to be a significant revenue source for MHT, further lower airline operating costs and strengthen the position of the Airport within the region."

The ground lease can support up to a 100,000 square foot building and three widebody aircraft parking positions. The facility will be located just off the 9,250-foot primary runway for easy access. The Airport is conveniently located next to Interstates 93 and 293, the F.E. Everett Turnpike and Routes 101 and 3, creating a great opportunity for transportation of cargo to the surrounding area.

"We are proud to take part in this very exciting project," said Alexi Lachambre, Vice President of Investments for Aeroterm. "MHT's leaders have proven to be dynamic and visionary partners, keen to capitalize on the surge of e-commerce and create economic opportunity for their broader community. Demand for air cargo, primarily due to e-commerce, is continuing to grow at a staggering pace. Given the level of congestion in the regional distribution network, we expect the project with MHT's world-class infrastructure will garner the interest of major logistics players."

Besides being a valuable economic boost for MHT and the surrounding community, the new cargo facility will benefit its tenants through various New Hampshire tax advantages.

"Companies that operate at the Airport not only enjoy the New Hampshire Advantage of low corporate tax rates and no state sales taxes but can also take advantage of MHT being located inside Foreign Trade Zone 81, which provides duty-free imports for companies located at the Airport," said NH Department of Business and Economic Affairs Commissioner Taylor Caswell. "The combination of these economic benefits, as well as close proximity to a robust highway network, provides a powerful and compelling reason for businesses to Choose NH."  

The project will also have a positive economic impact on the surrounding community through the creation of additional employment opportunities in order to build and operate the new facility.

"This is exciting news for the Town of Londonderry and the Greater Manchester region," said Kevin Smith, Town Manager of Londonderry, NH. "The proposed development will not only create construction jobs but also create additional employment opportunities when the facility is open and operational. This facility will help strengthen the economic impact the Airport has on the region and will result in additional economic output throughout Southern New Hampshire."

ABOUT MANCHESTER-BOSTON REGIONAL AIRPORT
Strategically situated in the heart of New England, Manchester-Boston Regional Airport is located less than fifty miles north of Boston, Massachusetts, and less than an hour's drive from the region's most popular ski areas, scenic seacoast beaches and peaceful lakefront resorts. In 2019, MHT ranked in the top 50 airports in the United States for cargo movements. MHT offers CAT IIIb ILS approach capabilities on Runway 35, CAT I ILS approaches to Runways 6 and 17, and a 24-hour air traffic control tower. Having not closed for winter weather in over 30 years, MHT provides operational certainty and is the premier aviation gateway for the region. For more information, visit www.flymanchester.com.

ABOUT AEROTERM
Aeroterm, a Realterm investment platform, is a vertically integrated owner/operator with expertise in the management, acquisition, construction, development and disposition of air cargo and aviation-support facilities. Aeroterm's multi-disciplined infrastructure includes in-house leasing, property management, investment and disposition, construction and development, and design and engineering. Aeroterm is the largest owner of on-airport industrial real estate in North America with a 110-property, 17 million square foot portfolio across 36 airports, including six of the top 10 North American airports by cargo volume.

SOURCE Manchester-Boston Regional Airport