VAN NUYS, California — Aeroplex/Aerolease Group, an aviation property development, management and consulting firm, broke ground July 1, 2016, on a $7.5 million, three-acre development project at Los Angeles’ Van Nuys Airport featuring hangar, office, shop and private terminal areas.
The new facility will complement the company’s adjacent six acre private aviation center project that was developed in 2008.
Encompassing 123,162 square feet, the expansion will include:
- 38,000 square feet of hangar space to accommodate a full range of business aircraft, turbo-props and jets;
- 8,500 square feet of shop, office and terminal space with conference, kitchen and lounge facilities;
- More than 55,000 square feet of new aircraft ramp and staging areas;
- A private, gated parking lot to accommodate more than 45 vehicles.
Company officials estimate the new development — scheduled for completion in March 2017 — will create approximately 100 new jobs.
Now here this:
Assuming the management/stakeholder’s were “sober” when they signed the airport operating agreement for at least (20) twenty years, at a capital improvement cost of $7.5m,you can BET this airport is going to be around for quite a while.
Now add the “land lease/rental” from the airport authority to the $7.5M…………………..
GA aircraft owners/operators can feel very secure if based here!