In the face of stiff opposition from local officials, unions and environmental groups, the Port Authority of NY/NJ announced Thursday it has ended negotiations with Amazon to develop a 250K SF global air freight terminal at Newark-Liberty International Airport.
Amazon responded to an RFP in August with a proposal to spend $125M to redevelop two aging cargo warehouses on the north side of the airport, creating a new cargo hub along with 1,000 new jobs. The Port Authority was offering a 20-year lease for the new cargo hub.
"After months of good-faith negotiations with the Port Authority of New York and New Jersey, we're disappointed to report that we've been unable to reach a final deal for the regional air hub at Newark-Liberty," Maria Boschetti, an Amazon spokesperson, said in a statement.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
