{"id":1004111180,"date":"2015-01-14T07:41:10","date_gmt":"2015-01-14T15:41:10","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004111180"},"modified":"2022-12-08T14:40:46","modified_gmt":"2022-12-08T22:40:46","slug":"ark-development-to-build-animal-cargo-terminal-at-nys-jfk-airport","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/ark-development-to-build-animal-cargo-terminal-at-nys-jfk-airport\/","title":{"rendered":"ARK Development to Build Animal Cargo Terminal at NY\u2019s JFK Airport"},"content":{"rendered":"<p><i>By Gail Kalinoski, Contributing Editor<a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/ARKatJFK_GH2_Export.jpg\"><img loading=\"lazy\" decoding=\"async\" data-attachment-id=\"1004111182\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/ark-development-to-build-animal-cargo-terminal-at-nys-jfk-airport\/arkatjfk_gh2_export\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/ARKatJFK_GH2_Export.jpg\" data-orig-size=\"800,456\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;1363212754&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;}\" data-image-title=\"ARKatJFK_GH2_Export\" data-image-description=\"\" data-image-caption=\"\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/ARKatJFK_GH2_Export.jpg?w=800\" class=\"alignright size-medium wp-image-1004111182\" alt=\"ARKatJFK_GH2_Export\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/ARKatJFK_GH2_Export.jpg\" width=\"300\" height=\"171\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/ARKatJFK_GH2_Export.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/ARKatJFK_GH2_Export.jpg?resize=300,171 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2015\/01\/ARKatJFK_GH2_Export.jpg?resize=768,438 768w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/a><\/i><\/p>\n<p>JFK International Airport in New York will be the site of the world\u2019s only privately owned animal handling cargo terminal under a 30-year lease the Port Authority of New York and New Jersey signed with Racebrook Capital, the developer of the $48 million, 178,000-square-foot facility.<\/p>\n<p>The ARK at JFK will be built at the Cargo Building 78 at JFK, a structure that has been vacant for nearly 10 years surrounded by 14.4 acres with direct airside access to the taxiway and large aircraft ramp parking. The project will create more than 180 jobs and generate about $108 million in revenues for the PANYNJ over the term of the lease.<\/p>\n<p>\u201cIt\u2019s extremely rare for any company, including major airlines and cargo handlers to get a long-term lease with the Port Authority,\u201d Dr. Aaron Perl, founder and managing director of The ARK at JFK and general counsel of The Racebrook Portfolio Cos., told <i>Commercial Property Executive<\/i>. \u201cTo realize this monumental project under a 30-year lease with exclusivity provisions is a testament to the cooperation of numerous private and public entities, as well as the perseverance and real estate of parent company Racebrook.\u201d<\/p>\n<p>Racebrook chairman John Cuticelli Jr., also a founder of The ARK at JFK, said the facility will address unmet needs for the import and export of companion, sporting and agricultural animals.<\/p>\n<p>\u201cThe animal terminal will set new international airport standards for comprehensive veterinary, kenneling and quarantine services,\u201d he said in a release.<\/p>\n<p>The facility will be divided into three sections: the air cargo wing, a central and administrative and business center with a 24-hour veterinary hospital and the main animal handling area with pet boarding, animal import and export center, and livestock export handling system.<\/p>\n<p>\u201cRedeveloping cargo infrastructure and growing the cargo pie at New York and New Jersey\u2019s airports is vital to supporting thousands of jobs and hundreds of millions of dollars in economic activity for the region,\u201d Port Authority Executive Director Pat Foye said in the release.<\/p>\n<p>A 100-page report recently issued by a panel appointed to make recommendations for the <a href=\"https:\/\/www.commercialsearch.com\/news\/regions\/northeast\/panynj-report-sell-assets-limit-cre-investment-not-integral-to-transportation\/1004110277.html\">PANYNJ\u2019s future urged the agency to monetize its<\/a> vast real estate portfolio. The report recommended \u201cprudently divesting existing real estate holdings\u201d and restricting future investments only to those that are integral to transportation.<\/p>\n<p>Foye lauded the deal with Racebrook because it will guarantee \u201cthe Port Authority more than $100 million in revenues without any additional capital investment.\u201d<\/p>\n<p>In the planning stages for several years, ARK Development L.L.C., an affiliate of Racebrook, will be responsible for developing, financing, constructing, operating and managing the animal cargo terminal.<\/p>\n<p>Build NYC, New York City\u2019s conduit bond issuer, will issue bonds underwritten by Goldman Sachs, equity partner Westport Capital Partners L.L.C. and construction lender The Union Labor Life Insurance Co., Real Estate Investment Group, to help finance the project.<\/p>\n<p>Racebrook is subleasing about half of the facility to Consolidated Aviation Services, which will be the anchor tenant. Paradise 4 Paws will operate a 20,000-square-foot, 24-hour pet resort for cats and dogs. LIFECARE Veterinary Health System will provide medical care.<\/p>\n<p>Working on the project are architect firm Gensler, equine-specialty architect Gralla Equine Architects, Holt Construction and Grandin Livestock Handling Systems, with guidance from Cornell University\u2019s College of Veterinary Medicine and the U.S. Department of Agriculture.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>JFK International Airport in New York will be the site of the world\u2019s only privately owned animal handling cargo terminal under a 30-year lease the Port Authority of New York and New Jersey signed with the developer. <\/p>\n","protected":false},"author":952,"featured_media":1004111182,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,11,21742,10],"tags":[],"class_list":["post-1004111180","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-midatlantic","category-latest","category-northeast"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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