Fraport AG (FPRUY,0O1R.L,FRA.DE), the operator of Frankfurt Airport, Monday said that the airport's CargoCity South is expanding, with plans underway for the construction of a new air cargo warehouse for the global air and sea freight provider Kühne+Nagel. The new facility is scheduled for completion in 2028 and Kühne+Nagel have already signed a corresponding lease agreement for the building, the company added.
Fraport said that it would be responsible for developing and constructing the warehouse, which will remain part of the airport operator's building portfolio. The construction site is located within FRA's Air Cargo Area 2 and covers approximately 16,900 square meters.
It benefits from a highly convenient location directly adjacent to airport access gate Tor 31. The planned building will comprise around 7,600 square meters of warehouse space, complemented by approximately 1,100 square meters of office and social areas, the company said in an official statement.
Julia Kranenberg, Executive Board member and Chief Retail and Real Estate Officer or CRO at Fraport AG, said, "We are delighted that Kühne+Nagel has decided to expand their presence here at Frankfurt Airport. The new warehouse will be a modern, efficient air cargo facility, offering this leading logistics company exceptional opportunities for growth and expansion at Europe's foremost cargo hub."
On the XETRA Exchange, FRA.DE ended Monday's trading at 78.15 euros, up 0.05 euros or 0.06 percent.
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