Aviation Development Group has completed and sold the first building in a multi-phase hangar complex at Spirit of St. Louis Airport (SUS) in Chesterfield, Mo.
Officials with the Denver-based company say they are now planning and accepting purchase reservations for Phase II of the development.
The project, located at the northeast corner of North Bell and Edison Avenues, supplies a mix of corporate and executive box hangars designed to accommodate single-engine piston aircraft to mid-size corporate jets.
Each hangar includes standard amenities, including 200 amp, 120/208 volt, 3-phase electrical service; rough-in bathroom plumbing; gas-fired infrared tube heating system; floor drain and full insulation. Some of the hangars have attached bungalows intended for office space, flight planning or personal, non-residential use. The hangars are being sold as condominiums subject to a 40-year ground lease.
“Typically, opportunities for purchasing new aircraft hangars are limited because most hangars are only available for lease. Ownership is an attractive alternative to leasing for some operators because it offers the opportunity for tax benefits and capital appreciation,” said Michael Dunn, manager of ADG.
Spirit of St. Louis Airport has been the business aviation center of the Midwest for more than 40 years. It is located in the heart of the area’s growing west side, minutes from downtown St. Louis and the rapidly expanding Clayton business district.
Aviation Development Group develops aviation facilities on a nationwide basis for individuals, corporations, FBOs, charter operators and corporate flight departments. Company officials report ADG has recently completed construction of aviation facilities totaling 240,000 square feet and valued at $17 million.
For more information: AviationDevelopmentGroup.com
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