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Following years of inconsistent growth, gains for air cargo traffic at BWI carry into 2018

• Driven by e-commerce related carriers, air cargo traffic at BWI has surged since mid-2017.  Year-over-year growth has hovered near 70%, as the volume of cargo at BWI has reached nearly two-thirds of nearby Dulles International Airport.

• To accommodate the rapid growth, Maryland spent roughly $12 million in capital improvements for cargo operations, including 3 new aircraft parking positions and additional infrastructure. Despite BWI’s rapid growth in 2017, however, air cargo traffic is still approximately two-thirds of Dulles’ activity.

• Sustained growth from air cargo operations at BWI will lend to additional net new demand in the surrounding industrial submarkets. Vacancy in the Baltimore/Washington Corridor, however, is already at cyclical lows with a direct vacancy rate of 7.8%. Increased demand from logistics users will help fill development underway and provide additional upwards pressure on rental rates.


Source: JLL Research




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