JLL’s Index evaluates airports based on criteria such as availability of industrial and warehousing space, access to large population centers, and air cargo growth prospects. Leading airports face rising rents and low vacancy rates due to high demand from tenants whose cargo dictates close proximity to the hangars and runways. This translates to great interest from institutional investors, and high costs for the tenants seeking what little space remains on the market.
The top three airports all benefit from baseline location advantages, combined with ongoing infrastructure investment. Chicago’s O’Hare Airport (ORD) took the top spot according to the report, followed by Miami (MIA) and Los Angeles (LAX).