Situation

• Nextel subleased space in Hangar C at Washington Dulles International Airport from ExxonMobil Corporation (XOM) who leases same from Hawthorne Dulles Inc. (FBO) who is under contract from the Metropolitan Washington Airport Authority (MWAA).
• XOM issued a solicitaion to sell its leasehold interest
• No other available hangar space existed at Dulles
• A proposed hangar development for spring ‘05 on the east side of the airport was in the planning stages
• Opportunities for space and remote smaller regional airport locations was a possibility

   
        Result

• Acquired Hangar C leasehold at Dulles International Airport in Loudon, Virginia including subleases to ExxonMobil and Jet Aviation