The Memphis Shelby County Airport Authority yesterday approved a sixth amendment to UPS’ longtime lease agreement with Memphis International Airport (MEM) that will allow the integrator to carry out a $216 million expansion to its facilities at the airport.
UPS currently leases 5,912,880 square feet of MEM airport property, to which it will add 1.1 million square feet, Glen Thomas, MEM’s director of strategic marketing and communications, told Air Cargo World.
The news follows UPS’ recent announcement that it will invest approximately $1.4 billion in significant facility enhancements across its Pennsylvania network, including the opening of a new “super hub” in Harrisburg, along with three new sortation and distribution facilities in Carlisle, Lehigh Valley and Philadelphia. UPS also ended 2019 on a high note, reporting positive earnings for the final quarter; in its earnings announcement at the end of January, the integrator referred to Amazon as its largest customer, representing 11.6% of UPS’ total revenue.
UPS has yet to respond to a request for further details facility details and its construction plans, though more information will likely be revealed in the coming months.2 - Readers Like This Post