b'CARGOORD6937 airports across North America and has had a presence at ORD since the 2000s.We are known in the cargo business as the largest air cargo owner, operator and developer; so when the RFP came out, we felt like the right partner forDAVID ROSEthe airport, says David Rose, managing directorsenior fund manager of Realterms Airport Infrastructure Division. We knew there was pent-up demand at OHare that wasnt being met.Realterm ultimately won the RFP to develop all three phases of the northeast cargo expansion project. Amber Ritter, chief commercial officerAMBER RITTERat the Chicago Department of Aviation, played a crucial role negotiating and securing approval for the Phase III lease from the Chicago City Council. Its been an ongoing living project from the legal perspective to get the leases aligned with our goals, she says.Unlike ORDs south side cargo facilities, PHOTO: REALTERM which were designed for multiple owners The project brought us to 2 millionresponsible practices, we are enhancingand multiple users, the new northeast side square feet total on the airside and 2international trade while creating significantdevelopment is overseen by one manager million square feet on the landside, ofopportunities for local businesses and(Realterm) but designed for multiple users. which the northeast operation comprisesworkers, says Rhee. Notably, this projectAll the users in these facilities are about 900,000 square feet, he details. Itserves as a remarkable example of thesubtenants of Realterm, Ritter explains. also was an opportunity for us to use theCDAs work to empower small, diverseThats a little bit different profile, as it has most innovative sustainability techniquesbusinesses of all sizes, building bothshifted from airlines being the tenant with and tactics available. capacity and equity in our community.the airport to large-scale developers.CommissionerThis achievement demonstrates theIn this case, the lease is between Jamie L. Rhee notestransformative power of thoughtfulRealterm and the city of Chicago. that the state-of- investment and collaboration. Realterm develops and maintains the the-art cargo facilitybuildings, and subleases them to airlines not only reinforcesLeasing Arrangements or ground handling companies.ORDs position as aTo get the project rolling, the ChicagoAccording to Rod, this model will global leader in airJAMIE RHEE Department of Aviation issued a request forlikely become the new standard practice transportation butproposals (RFP) to find a developer for aat ORD. Our next round of cargo also highlights the Chicago Departmentpublic-private partnership involving a long- development will work the same way, of Aviations steadfast commitment toterm ground lease.he reports. It works pretty efficiently sustainability and inclusive economic growth. Realterm, formerly known as Aeroterm,because the developer can rely on handler By expanding cargo capabilities andpromptly seized the opportunity to join thecontracts to help them.integrating innovative, environmentallyambitious project. The company operates at AirportImprovement.comMarch | April 2025'