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Airport expansion will build industrial space


Maricopa is an area with great potential for building and redevelopment. Investors who are constantly on the lookout for a new venture are often entering into development agreements to redo existing buildings, work on road construction, additions and redevelopment. Since there are so many legal hurdles that have to be dealt with, it's important to have all the various factors organized before moving forward in any project.

An airport expansion is planning on new industrial space for an engineering company. Eight acres south of the passenger terminal of the airport received approval to be built upon. An industrial structure with room for multiple tenants will be built on 120,000 square feet. Leasing the area will provide the airport with $82,000 of income on an annual basis and that amount will be adjusted to account for inflation. The project is expected to cost $13 million and will begin work next year. It is expected to take less than one year to be completed. With the airport an the polytechnic campus of the university near by, the area is becoming more popular and available land harder to find.

Before moving forward with any kind of redevelopment project or building agreement, it's imperative to have all the laws and contracts figured out. Acquiring the land, understanding the zoning regulations and having the proper permits among many other issues can smooth the process for the land developer, the entity that leases the land and the contractors. Whether it's a public or private group or combination of the two, there is no substitute for proper legal assistance to keep the project moving as smoothly as possible without the various legal wrangling that inevitably crops up. In the event there is a disagreement as to how the project is being handled, it's even more important to have legal assistance.

In this case, the airport is embarking on a vast amount of industrial work to expand its base. The area in which this is being built is growing exponentially and there is much to be gained for everyone in the community from this project. With stakes so high, a key is to keep the legal issues in order. For that discussing the matter with an experienced legal professional is a wise decision.

Source: AZCentral.com, "More industry, jobs planned near Mesa Gateway Airport," Parker Leavitt, Sept. 18, 2014

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