National company snaps up 2 Costa Mesa sites, banking on growth at John Wayne Airport
Aeroterm — a national owner and developer of on-airport cargo facilities — announced Wednesday the acquisition of two industrial warehouses in Costa Mesa that provide secure access to John Wayne Airport, which company leaders believe is poised for growth.
Located at 2990 and 3000 Airway Ave., the two sites purchased at an undisclosed price provide a total of 142,273 square feet of space across 7 acres and 30 loading positions with access to the runway via a special gate.
Greg Russell, senior vice president of investments for Aeroterm, described the Maryland-based corporation as a leading third-party owner of on-airport and airport-adjacent facilities that has been looking to build its portfolio of transportation-advantaged, high-flow real estate properties.
“These facilities are really nodes along the global supply chain,” Russell said Friday. “We’ve seen a really nice rebound in passenger traffic at John Wayne Airport from 2020 to 2021, and we’ve seen a steady growth in air cargo. It is a good logistics market location.”
In February 2022, the Santa Ana airport served 717,400 passengers, an increase of 215.5% compared to February 2021 passenger traffic count of 227,402, airport officials announced in March.
Commercial aircraft operations increased 87.5% during the same time period, while commuter aircraft operations increased 63.5%
A subsidiary of Realterm, Aeroterm currently manages more than 15 million square feet of property and development at 36 airports across the United States and Canada. Russell said the Costa Mesa site is ideal for tenants that serve airports or are looking for central placement among major regional freeway corridors.
“It is designed to be able to facilitate the movement of goods through the space, and it is in an optimal location with direct access to the airport and two key transportation routes in Southern California,” he said.
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