DOT opens comment period on airport lease before appraisal finishes

The Alaska Department of Transportation and Public Facilities opened a 30-day comment period on a proposed 50-year lease at Ted Stevens Anchorage International Airport. The market-rate appraisal that will determine part of the rent is not yet complete.

The lease would grant Air Park Inc. 69,318 square feet at Block 5, Lot 35 for air freight forwarding, warehousing, vehicle parking, and food service from August 1, 2026, through July 31, 2076. Annual rent combines a fixed aeronautical rate of $0.18 per square foot with an appraised market rate.

Comments or competing applications are due to Andy Dinsmore, land leasing specialist for the airport, by 4:30 p.m. July 4. The appraisal will be made available to the public upon request, according to the department's notice.

The lease file is available for review during regular business hours at the airport Leasing Office in Room C3980 on the third floor of the South Terminal.

The department reserves the right to reject the application or correct technical lease language.