Corporate hangar space is so hard to find in the San Francisco Bay Area that even before the ink was dry on permits for a hangar construction project at Hayward Executive Airport (HWD), almost half of it had been spoken for.
“The Bay Area hangar market is very tight right now,” says Scott Briggs, project manager. “It is so hard to find space that some aircraft owners are moving their airplanes out of the area.”
The new hangars, known as ParkAvion Phase II, are being built by Ascend Development. According to Briggs, Phase I, which consisted of five hangars, was filled even before construction was completed. He anticipates the same thing will happen with Phase II, noting it is possible they could sell out the space before the first shovel of dirt is turned.
The 80,000-square-foot facility should be complete by November 2006. The new facility will be located on 3.5 acres on the northeast side of the airport.
“All the improvements were made by the developer. The city did not put any money into this,” notes Brent Shiner, manager of the 521-acre airport. “This is the kind of facility that the aviation market has been calling for since Sept. 11.”
Another thing that makes the hangars attractive, according to Briggs, is a provision written into the lease with the airport that keeps the hangars in private hands even after the leases expire in 50 years.
“It is like a condominium,” he said. “They will never revert back to the city.”
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