WorldPort is the first so-called "through the fence" cargooperation at DIA, one of the nation's busiest airports. That meansthat the cargo operation actually will be on DIA property toexpedite the movement of cargo. The project will create 1,581direct jobs and more than double the 450,000 tons of cargocurrently shipped annually from DIA.

The first phase, estimated at $63 million, includes $54 millionin tax-exempt bonds that were sold by the city last April in lessthan 30 minutes, says Stephen E. Howard, senior vice president ofpublic finance for Lehman Brothers, one of several Wall Streetinvestment houses involved in the deal. Merrill Lynch, J.P. Morganand George K. Baum of Denver also were involved in thefinancing.

New York City-based Aviation Development Services LLC andDenver-based Fulenwider, Prather and Thompson LLC are thedevelopers. The first phase is scheduled for a fall 2001completion. US Customs has agreed to lease 8,000 sf in the firstbuilding, which will have 50,000 feet. Several other leases are inthe works.