Leasing at an Airport: The Cost of Seizing Business and Logistics Opportunities in Mexico City

For many companies, especially those in the transportation and logistics sector, leasing space at an airport is essential due to its strategic location, air connectivity, customs facilities, supply chain efficiency, business opportunities, and potential for international expansion offered by air terminals. For example, in the two main airports in the Mexico City metropolitan area, at least 15 companies rent storage and cargo spaces, according to government data analyzed by SiiLA.

Among the companies leasing spaces at the International Felipe Angeles Airport (AIFA) and the Benito Juarez Mexico City International Airport (AICM) are well-known firms such as AeroMexico, Estafeta Carga Aerea, and World Express Cargo de Mexico, which provide delivery, handling, warehousing, and custody services for commercial goods at both national and international levels.

As of April 2023, the Commercial and Services Directorate of AIFA reported having 101,486 square meters rented, both in the Cargo and Customs Terminal, as well as in the vicinity of the National Cargo Terminal. On the other hand, the Commercial and Services Directorate of AICM indicated having 16,756 square meters rented in three areas: Concessions, "G" Hangars, and Hangars.

The leased space generates monthly revenues (before taxes) of 26,347,770 pesos (USD 1.5 million) and 1,414,374 pesos (USD 79,000) for AIFA and AICM, respectively.

Is it expensive to lease at an airport?

Leasing space at an air terminal can be significantly more expensive than renting industrial space around an airport. The price difference can be related to supply and demand factors. However, it is mainly due to the costs associated with airport infrastructure, location, personnel, security, legal fees, and technology. This is the case, for example, at AIFA.

On average, leasing a warehouse at AIFA costs around 300 pesos (USD 15) per square meter. This amount is 113% higher than the average market price per square meter for industrial properties in the Mexico City metropolitan area, according to data from SiiLA Market Analytics. Furthermore, the airport's average rental price per square meter can be three times higher than the average price in the Zumpango-Nextlalpan industrial zone, which is adjacent to AIFA's perimeter.

In the case of AICM, the leased properties are cargo terminals, parking lots, and platforms for handling merchandise. There, the average cost per square meter is 83 pesos (USD 5), considerably lower than AIFA's warehouses. This difference can be attributed to the functions and services offered, the type of property, which in many cases are land reserves, the capacity and demand for spaces within the airport, and the size. In this regard, it is essential to highlight that the average leased area at AIFA is 6,800 square meters, while at AICM, it is 5,600 square meters. However, the rented spaces at AICM do not exceed 7,200 square meters, while at AIFA, there are warehouses of up to 12,000 square meters, according to data from Mexico's Federal Government.

Overall, while airport leases may be more expensive, some companies can benefit operationally by having more direct access to a large customer flow, providing competitive and economic advantages. In the case of courier, transportation, and logistics companies, which are the most abundant at AIFA and AICM, the location can improve process efficiency, facilitate access to global markets, and optimize the supply chain, ultimately translating into financial benefits.

To learn more about this and other commercial real estate market topics, visit SiiLA REsource or contact us at contacto@siila.com.mx.