2 New T-Hangar Buildings | 45 Airport Way

Highlights:

• Brand-New Construction – Turnkey asset with zero deferred maintenance or near-term capital expenditure requirements.
• Significant Pent-Up Demand – 35+ aircraft on the airport waitlist plus strong off-market leasing interest; national undersupply of General Aviation hangars.
• Built-In Rent Growth – 3% annual escalations provide durable income growth and inflation protection.
• Long-Term Ground Lease w/ Public Airport at Below Market Rates – 20-year initial term plus 20-year option at unusually favorable public-airport lease rates.
• Compelling Airport Fundamentals – Active regional airport with training operations, aerial firefighting, National Guard activity, and strong GA culture.
• Supply-Constrained, FAA-Regulated Asset Class – On-airport hangar development is restricted by FAA compliance rules and public-airport governance, creating high barriers to new supply. With 71% of GA airports reporting hangar shortages and documented waitlist demand at KDLS, stabilized occupancy benefits from structural protection rather than speculative demand.
• Located in Opportunity Zone – Located within a designated Opportunity Zone, this investment may allow qualified investors to defer and potentially reduce capital gains taxes when structured properly and held long term. For investors with existing gains, this can materially enhance after-tax returns compared to a similar non-OZ asset.
• Durable Income with Limited Ownership Burden – The asset benefits from a low-cost maintenance and operating structure, with select tenants responsible for utilities, insurance, CAM, leasehold taxes, and administrative costs—resulting in low ownership overhead.
• No Rental Excise Tax on Long-Term Income – Washington State exempts 30+ day rentals from excise tax, allowing investors to retain more of gross revenue compared to many competing markets.

Description:

AiCRE Partners is pleased to exclusively present this rare offering which consists of two newly constructed, on-airport T-hangar buildings totaling 18 units and approximately 21,000 square feet at Columbia Gorge Regional Airport (KDLS). Eleven standard hangar bays measure 42’ W x 25’ D, and seven corner units include approximately 300 additional square feet. The hangars feature sliding doors and offer direct apron and taxiway access. The asset benefits from a low-cost maintenance and operating structure, with some tenants responsible for utilities, insurance, CAM, leasehold taxes, and administrative costs— resulting in low ownership overhead.

Demand is both local and structural. Nationally, industry surveys indicate 71% of general aviation airports report shortages of individual hangars, while 55% report having land but lacking the resources to deliver new supply—creating a persistent imbalance between demand and inventory. This supply constraint is reinforced by public-airport governance and FAA policy frameworks that prioritize aeronautical infrastructure improvements over hangar construction.

Locally, KDLS and surrounding airports maintain formal waiting list processes, and aviation publications report approximately 50 pilots waiting for hangar space alongside significant interest in the 18-unit development—supporting rapid stabilization. T-hangars on publicly owned airports rarely come to market due to limited new construction, and increasing rental rates combined with long-term, low-cost ground leases position the asset for steady revenue growth over time.

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