The Metropolitan Washington Airports Authority has issued a solicitation for real estate brokerage services to market land at Washington Dulles International Airport and advise airport officials on real estate-related matters, as part of a broader effort to increase revenue and hold down costs for airlines and passengers.
The Airports Authority has identified three parcels of land that are not required for airport operations but would be suitable for commercial development. The Airports Authority is interested in long-term ground leases for the property that could generate revenue and enhance the airport’s aviation activities.
“Engaging a commercial real estate brokerage services provider would allow us to fully expose these parcels to the regional, national and international real estate markets over multiple years to maximize financial returns,” said Airports Authority Executive Vice President and Chief Revenue Officer Jerome L. Davis. “Maximizing the revenue from airport assets helps hold down costs to airlines and passengers, which puts Dulles in a stronger position to compete for international and domestic airline destinations to better serve the traveling public.”
The Airports Authority is interested in marketing three pieces of land for non-residential commercial or industrial purposes: A 416-acre parcel known as the Western Lands, on Virginia Route 606 at the western side of the airport; a 56-to-68-acre parcel adjacent to the future Loudoun Gateway Metrorail Station at the northern end of the airport property; and a 45-acre parcel fronting Route 606 just north of U.S. Route 50. Two sites adjacent to this parcel also could be marketed at a later time.
Davis emphasized that the Airports Authority will work closely with Loudoun County and other local and regional jurisdictions in pursuing real estate development projects.
“Washington Dulles International Airport is a key driver of the local, regional and state economy, providing jobs, state and local tax revenue and business income, in addition to providing transportation services and serving as a catalyst for economic development,” he said. “We are committed to collaborating with our partners in the local, state and federal governments and the business community as we work together to strengthen our regional economy.”
The brokerage firm will to be selected in an open competitive process. Further information on the solicitation and expectations for a brokerage firm can be found by visiting here.
The Metropolitan Washington Airports Authority operates Ronald Reagan Washington National Airport, Washington Dulles International Airport, the Dulles Airport Access Highway and the Dulles Toll Road and also manages construction of the Silver Line project, a 23-mile extension of the Washington region’s Metrorail public transit system through Fairfax County and into Loudoun County, Virginia. More than 45 million passengers a year pass through the two airports. The Airports Authority generates more than 387,000 jobs in the National Capital Region.