Acreage utilized at Ontario International nearly tripling in new 30-year lease.
FedEx Express is expanding its presence at the Ontario International Airport in southern California in addition to signing a new long-term lease agreement with the airport.
FedEx has operated at the Ontario International Airport for 31 years and currently utilizes 18.5 acres on the airport’s south side, the airport said.
Under the terms of the new lease, FedEx will relocate its operations from its current location to a 51.1-acre site in the northwest quadrant of the airport.
The lease agreement also offers FedEx the opportunity to lease about 40 additional acres adjacent to the northwest quadrant for additional cargo facilities or ramp infrastructure.
FedEx’s new lease at the airport is initially for 30 years. However, the agreement includes two 10-year extension options that may be exercised by FedEx.
FedEx’s move to the new site is expected to occur in late 2020. FedEx will invest almost $100 million to revitalize aircraft parking apron areas; consolidate and construct a sorting facility, ground support staging area, secondary and maintenance buildings; enhance perimeter fencing; and install landscaping. These improvements are anticipated to be completed by Nov. 30, 2020.
Situated about 35 miles east of downtown Los Angeles, the Ontario International Airport’s cargo business has been thriving. For the first five months of 2018, the airport handled 276,684 tons of freight and 12,441 tons of mail, up 17.6 percent and 6.3 percent, respectively, from the corresponding 2017 period.