Industrial Rents Surge Near JFK Airport

Rising Industrial Demand

Industrial space near John F. Kennedy International Airport is in high demand, with asking rents for triple-net leases topping $30 PSF for the first time. In 2025, nearly 770K SF of industrial space was leased in the JFK submarkets, up 63% year-over-year, according to Bisnow.

The area’s vacancy rate has dropped to 6.4% after peaking at almost 7% in 2024—significantly lower than the citywide industrial vacancy of 8.8%. This tight market comes as no new speculative development is underway and inventory remains largely static.

Source: Cushman & Wakefield

Driving Factors

JFK Airport’s $19B redevelopment, including a new 350K SF cargo facility opened last year, fuels this rent growth. The airport handled nearly 1.7M tons of cargo in 2024, solidifying its status as the busiest US hub for international e-commerce packages and the ninth-busiest cargo airport nationally.

Institutional investors such as Prologis and Terreno have replaced most local owners. The submarket offers about 7M SF of supply. It remains tight compared to Miami’s Doral West. This mirrors trends at other major US airport hubs, where cargo growth continues to push rents higher. Available space is scarce, and pricing reflects strong supply demand pressure.

Limited Space and Future Outlook

Recent deals from plane servicing and catering firms show steady demand from logistics and airport service tenants. Meanwhile, South Jamaica, Springfield Gardens, and Inwood are nearly built out. As a result, tenants near JFK will likely shift to areas like East New York, which offer less convenience.

As JFK’s redevelopment brings new cargo and passenger terminals online through 2030, industrial rents are expected to remain elevated, reinforcing the status of this market as a premium location for airport-linked users.