NewswireToday - /newswire/ -
Los Angeles, CA, United States, 2006/02/21 - Ascend brings the best in luxury, style and amenities to their condo style hangars - AscendDevelopment.com.
Ascend Development, a California based airport real estate company today, announced the availability of additional state-of-the-art custom corporate aircraft hangars in the San Francisco, CA market for purchase. Ascend offers the best in security, privacy and architecture for the discerning private jet owner that wants the best for their aviation investment.
"The hangars built by us [Ascend] are an investment, a commercial real estate investment as well as an investment into the protection of the owners aircraft, said Gary Briggs, CEO and founder of Ascend Development.
Hangar space, especially in major metropolitan areas, is in very short supply and traditionally you have to rent hangars from the local FBO. The option to purchase really high quality space is an approach that is a new alternative and one that has been warmly received by Ascend customers.
Ascend Development has also been able to show a high return on investment based on the returns of their Phase I hangar owners. Phase I hangar owners who bought additional bays as real estate investments, have enjoyed first-year returns of 8% on their hangar investment, exclusive of asset appreciation. In contrast to the housing market with 3% average rental returns and yearly turnover, hangar leases typically offer longer terms and greater stability.
The custom options and selections are sure to delight the most discriminating clientele, featuring one-of-a-kind items that embody "the art of inspired living" for jet owners. Ascend offers such custom features as wine cellars, custom flooring (company logo or family crest), relaxation rooms, private crew quarters with showers, private offices, 24/7 online security, biometrics and key pad security access and just about anything else the most discriminating buyer can think of.
PARKAVION.HWD-PHASE II will add an additional 80,000 square-feet of custom hangar space located on 3.5 acres of land adjacent to PARKAVION.HWD PHASE I. Occupancy is scheduled for 1st Quarter 2007. Ascend is also building custom hangars in Austin, TX, (PARKAVION.AUS), and plans to announce additional new locations soon.
About Ascend Development
Ascend Development (ascenddevelopment.com) provides upscale private hangars, sized to accommodate the entire range of business jets including the Gulfstream V and Global Express. Ascend was formed to address a shortage of high quality corporate hangar space, by emphasizing privacy, security, and creative design, in a structure available for either purchase or long-term lease.