Dayton, Ohio – A company called SD Hangar Partners LLC plans to lease part of the Dayton airport’s property for at least the next 5 years after a ground lease agreement between the company and the city of Dayton was approved earlier this week.
With part of the property leased, airport and city officials believe that more than 150 job positions will be opened in the upcoming years.
Reportedly, the company plans to lease about 16 acres of property at the Dayton airport to construct an aircraft hangar and office building, according to a memo from Dayton Aviation Director Gil Turner to the city manager.
A yet-to-be-identified tenant will sublease the improved property, which will be used for aviation purposes, Turner’s memo states.
Since Emery Worldwide Freight Services moved out of the airport, that part of the airport’s property has been left unused. Now the project is expected to reuse that land.
The ground lease agreement indicates that the airport will lease the mentioned property for $62,500 annually for the first five years. The city approved the lease of about 649,400 square feet of land.
As of writing of this article, city officials didn’t provide additional comments and information about the whole project and the possible tenant. Officials believe that the project will bring at least 150 new job positions in the area.
The Dayton airport has seen explosive job growth in recent years because developers have constructed new industrial, warehouse and distribution facilities on surrounding property.