Lease signed for development of Falcon Field hangar/office facility

The Business Journal of Phoenix - 11:38 AM MST Wednesday June 7, 2006

The city of Mesa, Falcon 7 LLC and Grubb & Ellis announced a long-term lease of 14 acres located near the Falcon Field Airport in Mesa.

More than 230,000 square feet of executive/corporate hangar space with attached offices are the focus of Falcon 7's development of the property, commonly referred to as "the water tower" property, at the northwest corner of McKellips Road and Falcon Drive.

"The Falcon 7 project will not only help to address the demand for additional hangar space and lower the number of people on our hangar waiting list, but will generate additional revenue for the airport and provide a sustainable, positive economic impact on Falcon Field Airport and the city of Mesa," said Corinne Nystrom, Falcon Field Airport director.

It is anticipated that the project will also generate more than 100 new jobs in the area.

The Falcon 7 development will be available to firms and individuals in need of hangar space.

Those interested in leasing space at the development are asked to call Alan House at 480-980-0787.