Feb
20

Columbia Airport to Bid on Three FTZ Buildings

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The Richland-Lexington Airport District Commission voted Monday to bid on three buildings in Foreign Trade Zone 127 adjacent to the airport.

The buildings, which total about 90,000 square feet, are used for offices and warehousing, said Dan Mann, executive director of the Columbia Metropolitan Airport. The airport already owns the land where the buildings are located and rents it to the landlords, Mann said. Rent on the land generates about $59,000 a year, he added. “The rationale is that it’s a good return on investment,” Mann said. “We think that if we bought the buildings that we could generate revenue greater what we generate now.” The rent revenue, Mann added, would be a source of income for the airport that’s not tied to airlines.

“Airlines come and go — it’s a tough business — but this is more a stable line of revenue,” Mann said, adding that the buildings’ occupancy rate is about 82%.

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