Family-backed Vesper Aviation plans new hangar campus to address longstanding aircraft-storage demand
CHANDLER, Ariz. - The Chandler City Council has unanimously approved a ground lease with a new subsidiary of Vesper Aviation, CHD Curtis East LLC, to build 29 new executive hangars for sale or lease at Chandler Municipal Airport (CHD). Vesper Hangars, the new development, will span 113,000 square feet located on the airport's northern boundary, addressing growing regional demand for hangar space.
“Chandler has always been a city that invested in its future, and this development is a prime example of that commitment,” said Chandler Mayor Kevin Hartke. “This lease puts a dormant city asset to work, brings a proven aviation partner to Chandler, and delivers real value to taxpayers, all without putting a dime of public money at risk. This also is smart growth that benefits pilots, businesses and the East Valley for decades to come.”
Vesper Aviation develops, owns and operates FBOs and hangar facilities in Texas, California, Washington and Arizona, and continues to expand into other U.S. markets. The company is backed by aviation families, including professional pilots, an aviation mechanic and owners of multiple aircraft, who collectively bring experience developing, owning and operating more than 4 million square feet of facilities. That combination of firsthand aviation knowledge and operational experience informs Vesper’s long-term, hands-on approach to all its projects.
“Vesper was built by people with a deep passion for and long history in general aviation,” said General Partner and Investor Daniel G. Hernandez. “All of our owners are hands-on, always have a long-term outlook, and are deeply committed to delivering exceptional products and services everywhere we operate. In Chandler, that means listening carefully to pilots, building quality facilities, and being a responsible partner to the airport and the surrounding community.”
Under the terms of the 30-year ground lease, with a single 10-year extension option, CHD Curtis East will develop 4.798 acres of currently undeveloped land adjacent to an airport taxi lane. Within 24 months of lease execution, the company will deliver a minimum of 10 standard, 4 large, and 2 extra-large executive hangars. Over the project’s lifetime, Vesper Hangars will develop and sell or lease a total of 29 units.
The city will also receive 1% of the sale price each time a hangar changes hands or a long-term prepaid rental is executed, which provides ongoing revenue benefit to the community.
“Chandler Municipal Airport has been a cornerstone of this city for nearly a century, and this development is a significant investment in its future,” said Airport Manager Ryan Reeves. “The demand for aircraft storage in the East Valley has outpaced supply for decades. This partnership with Vesper Aviation will give pilots and aviation businesses the world-class facilities they need, right here in Chandler.”
For information about the new hangars and join the waitlist, visit Vesper Hangars and call or text 602-912-3531. For more general information about CHD, visit Chandler Municipal Airport.
About Vesper Aviation
Vesper Aviation is a rapidly growing developer, owner and operator of FBOs and hangars, with a presence in Texas, California, Washington and Arizona and continued expansion across the United States. The aviation families behind Vesper share a direct, personal connection to the industry: the group includes pilots, an aviation mechanic and owners/operators of multiple aircraft. Collectively, they bring experience developing, owning and operating more than 4 million square feet of facilities. That combination of firsthand aviation knowledge and operational experience shapes Vesper’s long-term, hands-on approach to every location. For more information, visit Vesper Hangars for the latest on this project at Chandler Municipal Airport.
About the City of Chandler, Ariz.
Chandler, Arizona has built a reputation as a Community of Innovation. Known for its rich diversity, the city offers an outstanding quality of life for all generations with great schools and recreational opportunities. Chandler has grown to become the state's fifth-largest city with a population of more than 293,000. Chandler Municipal Airport (CHD) has served the Chandler community since 1928. One of the busiest general aviation airports in Arizona, CHD supports corporate flight operations, flight training, aviation-related business and community events. For more information, visit Chandler Municipal Airport.
Media contacts:
Andrew Cheney
Principal, at Lee & Associates Arizona
602-954-3769
Nick Whitehouse
Associate, Lee & Associates Arizona
480-268-1148
Stephanie Romero
Public Information Officer, City of Chandler
480-782-2231