; AUSTIN'S NEW HANGAR COMPLEX
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AUSTIN'S NEW HANGAR COMPLEX

VIEWS: 15 PAGES: 2

"What I'm offering is an alternative to the traditional FBO model, where you're in a community storage facility and are buying fuel at retail with a discount if you're a based customer. What I'm selling is a private hangar that is a real estate asset that you can sell in the future; you can lease out space to offset your monthly operating costs; you've got a preferred wholesale fuel program." He puts the price tag on the initial largest hangars at $2.3 million.

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									 S P E C I A L REPORT
By John F. Infanger, Editorial Director                                                         program.” He puts the price tag on the
                                                                                                initial largest hangars at $2.3 million.

AUSTIN’S NEW                                                                                         While Ascend will not have rights
                                                                                                to be a fixed base operator for tran-
                                                                                                sients at Austin, the company will have

HANGAR COMPLEX                                                                                  its own fuel farm — a key selling point
                                                                                                to prospective tenants, along with the
                                                                                                need for more corporate hangar stor-
                                                                                                age in the Austin region.
Despite economic downturn, Ascend                                                                    Comments Briggs, “It’s an oppor-
                                                                                                tunity to reduce costs. If you’ve got cus-
                                                                                                                                                                                Scott Briggs

Development moving forward on 21 acres                                                          tomers who are used to paying $4-5 a
                                                                                                gallon right now and they can cut their
                                                                                                                                              restriction on transient traffic, which
                                                                                                                                              are served by current FBOs Signature
AUSTIN, TX — Last September, Ascend Development of Hayward, CA                                  fuel price down by $1.50 a gallon …           Flight Support and Atlantic Aviation.
                                                                                                that’s a savings that offsets your operat-         Under the agreement at AUS,
signed a 30-year lease with Austin-Bergstrom International Airport to                           ing costs.”                                   Ascend development will pay a ground
construct a private development that when built out will encompass some                              Ascend Development doesn’t retain        lease of 23 cents per square foot, along
230,000-square feet of prime hangar and office space. Ascend is operated                        ownership in any of the hangars, accord-      with a fuel flowage fee of ten cents.
by father/son partners Gary W. and Scott S. Briggs, who are taking their                        ing to Griggs. He says that customers typ-    “The airport has been very open and
                                                                                                ically fall into one of three categories:     understands what we’re trying to do,
lessons learned from a similar development at the Hayward Executive    
								
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