SINGLE TENANT HANGAR BUILDINGS
4927 E. Falcon Drive & 5015 Roadrunner Drive
|Price per SF||$100.00|
|Cap Rate||12.0% (Proforma)|
|Building Size||18,050 SF|
|Land Area||1.148 Acres|
|Occupancy||100% (until 9/30/19)|
|Comments||Located in an Opportunity Zone|
The subject property is two industrial flex hangar buildings that back up to each other that are both leased to AeroMaritime America. AeroMaritime America Inc. provides repair, overhaul, and testing services for Rolls-Royce 250 series engines in the United States. It offers engine/module unpacking and receiving inspection, disassembly, dirty strip inspection, sub assembly, and packing and preparation for shipment services. The company serves operators, military, and municipalities. AeroMaritime America Inc. was formerly known as Aeropower Resources, Inc. and changed its name to AeroMaritime America Inc. in January 2001. The company was founded in 1971 and is based in Mesa, Arizona. As of March 7, 2008, AeroMaritime America, Inc. operates as a subsidiary of Industria de Turbo Propulsores S.A. ITP Aero is currently the ninth largest aircraft engine and components company in the world by revenue. ITP Aero is 100% owned by Rolls-Royce plc.
AeroMaritime has decided to cease operations in Arizona and elected to exercise their termination option. Their lease now expires 9/30/19. They will owe the landlord a $75,000 termination fee seven days prior to 9/30/19, which effectively reduces the price.
It would make sense for another helicopter repair business to buy this business and continue the operation here.
The buildings can be purchased together or separately.