Corporate Hangars...

[2-o'sinGoose]

Has anyone had any recent experience negotiating terms with local cities for land lease/building a new hangar. I have heard from 10-25 years until they own the Hangar... any insight or tips? Thanks

 

[pilotyip]

We, Yankee Air Museum, are looking at building one at KYIP. It will cost around 3.5M, plus about 4M in site improvements the airport wants, to include foam suppression, utilities, drainage, etc. We then will be charged 10 cents a foot for the land for 30 years, around 3G/mo. At 30 years it goes to prevailing commercial rate whatever that might be. Since we are a non-profit they mighty give us a break

 

[Headwind]

We, Yankee Air Museum, are looking at building one at KYIP. It will cost around 3.5M, plus about 4M in site improvements the airport wants, to include foam suppression, utilities, drainage, etc. We then will be charged 10 cents a foot for the land for 30 years, around 3G/mo. At 30 years it goes to prevailing commercial rate whatever that might be. Since we are a non-profit they mighty give us a break

20 to 25 years in our area. We also pay property tax, on the hangar, to the county that owns the hangar when the time is up.

 

[guido411]

Ask for 99 years.

Be willing to accept as little as 20 years with options for more.

If there are other hangars on field that are privately owned look up their contracts, should be public record.

Remember they have all the power unless you are willing to spend your money elsewhere.

 

[guido411]

We, Yankee Air Museum, are looking at building one at KYIP. It will cost around 3.5M, plus about 4M in site improvements the airport wants, to include foam suppression, utilities, drainage, etc. We then will be charged 10 cents a foot for the land for 30 years, around 3G/mo. At 30 years it goes to prevailing commercial rate whatever that might be. Since we are a non-profit they mighty give us a break

They are charging you 10 cents per foot per MONTH? For land only?! I'm hoping you mean 3G per year. If not...wow.

 

[gern_blanston]

We built a hangar last year and got 30 years with a guaranteed 10 year option at the end. After 40 years, it's renegotiation time. No one has ever had their hangar taken by the city, but that theoretically is a possibility.

 

[pilotyip]

They are charging you 10 cents per foot per MONTH? For land only?! I'm hoping you mean 3G per year. If not...wow.

No it is per month, we have to pay for the taxi way land we have to build to our hangar plus the ramp area it is about 350,000 sq ft. We are not paying it now, but that is the cost of the area we have proposed to build our hangar. Anyone got a spare 6-7M?

 

[gret]

We, Yankee Air Museum, are looking at building one at KYIP. It will cost around 3.5M, plus about 4M in site improvements the airport wants, to include foam suppression, utilities, drainage, etc. We then will be charged 10 cents a foot for the land for 30 years, around 3G/mo. At 30 years it goes to prevailing commercial rate whatever that might be. Since we are a non-profit they mighty give us a break

How big a hangar? Includes offices, reception, and mtx shop?

Number sound about right except the improvements...nothing there now I presume. Land rent isn't crazy compared to TEB/HPN.

 

[guido411]

Number sound about right except the improvements...nothing there now I presume. Land rent isn't crazy compared to TEB/HPN.

...but crazy compared to smaller non-metro airports. For example: land lease of about 2 acres for <$1,000 /yr.

So the point that hopefully the OP gets is your mileage may vary DRASTICALLY depending on location.

 

[pilotyip]

How big a hangar? Includes offices, reception, and mtx shop?

Number sound about right except the improvements...nothing there now I presume. Land rent isn't crazy compared to TEB/HPN.

200 x 200, 140' X 25 main door, shops no offices or reception