Jerry Heare, industrial real estate and site location specialist with NAI/Commercial Industrial Properties Co., is hawking the space for Banner Aerospace, a vision of Fairchild Corp., based in Dulles, VA.
The closure came due to the general economic downturn and as Fairchild cut expenses, Heare tells GlobeSt.com. "They are a diversified company as well so they had some overhead that they had to carry that would not have to be carried by a private owner," he says.
The center, which was to drew corporate customers and individuals from around Texas and the southwest, performed service on private aircraft at the facility. It was started in 1962 as Georgetown Jet Center and bought by Banner in 1990. In May 2000, along with a $100,000 renovation the name changed to Banner Aerospace-Aircraft Services Inc.
The facility is big enough--with a 14,000 clear-span hangar--to handle six to eight large aircraft such as King Air prop planes which have a 50-foot wingspan, Heare says. It also has 5,000 sf of office space.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
