Industrial Properties by U.S. Airports Command Premium Rents
19 Mar 2021
According to CBRE, distribution firms want to be close to major air hubs to expedite speedy deliveries, but there is often a price to pay: Industrial rent premiums average 13 percent in the top U.S. airport submarkets and reach as high as 47% in the Chicago O'Hare submarket.
In the era of next-day delivery, third-party logistics firms, ecommerce companies and retailers are all vying for industrial space with proximity to major airports. Operators appear willing to pay a premium for this coveted, but limited, real estate to meet customer expectations of rapid order fulfillment.