JordanGrant
Well Known Member
We are going through a little airport drama recently and it's made me wonder about what others have experienced around the country. The hangar land leases here are written such that the airport may take possession of the hangar structure (a free-standing building) at the termination of the land lease period. So I'm wondering - have any of you had experience with a privately-owned hangar transitioning to an airport-owned hangar after a refusal to renew a land lease? What did the new lease terms ended up looking like to you? At one airport here, the director has stated his plan NOT to renew land leases, and instead take possession of the hangars so he can triple the lease rate, under the logic that the airport would then be leasing a hangar structure and land. Is this a typical experience out there?
Thanks for any insight you have,
Thanks for any insight you have,