ADS Importing, LLC (dba Thrust Flight) sells, leases, and services light-sport aircraft and conducts flight training. It has been leasing this 6,400 square-foot office/hangar facility since 2011 as its corporate office and for aircraft storage. ADS Importing, LLC's current lease expires January 31, 2023; it is requesting the Town of Addison execute a new, three-year lease agreement with the primary term being February 1, 2023 through January 31, 2026. The proposed lease allows for either party to early terminate the lease with a six-month advance written notice, or as otherwise agreed to by the Parties, should Tenant redevelop the Premises. ADS Importing, LLC is a tenant in good standing with the airport.
In support of its operations, ADS Importing, LLC also leases an adjacent 2,466 square-foot office (with adjoining T-hangar) for its flight training school and a 7,700 square-foot conventional hangar for its maintenance facility.
The table below shows the current and proposed rental rates:
4700 Airport Parkway
|
Annual Rent
|
Monthly Rent
|
Square Footage
|
Rent per square foot
|
Current Rent
|
$41,477.40
|
$3,456.45
|
6,400
|
$6.48
|
Proposed Rent
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$45,275.49
|
$3,772.96
|
6,400
|
$7.07
|
|