CresaPartners Assists Precision Aviation Group With Expansion at Airport Location
Atlanta-based, privately held firm expands aircraft repair and warehouse facility to accommodate growth
Press Release, June 13, 2008
ATLANTA – CresaPartners, an international corporate real estate advisory firm, recently assisted Precision Aviation Group with renewal and expansion of its helicopter and fixed-wing aircraft repair and warehouse facility, adjacent to Hartsfield-Jackson Atlanta International Airport. Ed Riggins, Executive Vice President with CresaPartners, represented Precision Aviation Group in the lease renewal of 26,745 square feet, as well as an almost 38 percent expansion of 10,074 square feet, totaling 36,819 square feet leased in Building 800-G, 495 Lake Mirror Road, Atlanta, Georgia 30349.
Precision Aviation Group is an Atlanta-based company that has sold and serviced aircraft and helicopter parts from the 495 Lake Mirror Road building for the past 15 years. “Given our need for additional space to accommodate growth, we considered moving to a new facility. Ed Riggins’ expertise and knowledge of the airport submarket assisted us in evaluating the alternatives and, after thorough analysis, he negotiated a cost effective expansion in our current location,” said David Mast, President of Precision Aviation Group.
“Precision Aviation Group is a unique business with almost 100 employees, servicing over 12,000 parts annually and stocking 50,000 line items in inventory,” said Ed Riggins, Executive Vice President with CresaPartners. “We negotiated a lease renewal and expansion that offered a remodeled, larger service and warehouse space, while avoiding the capital costs of relocation.
ProLogis Trust is the owner of 495 Lake Mirror Road building, represented by Brian Cardoza.
About CresaPartners
CresaPartners is an international corporate real estate advisory firm that exclusively represents tenants and specializes in the delivery of fully integrated real estate services, including: Transaction Management, Project Management, Relocation Planning and Management, Strategic Planning, Site Selection and Incentives, Subleases and Dispositions, Lease Administration, Capital Markets, and Facilities Consulting. With more than 45 North American offices, CresaPartners is one of the largest pure tenant representation firms in the U.S. and Canada. Through a partnership with Atisreal international real estate group, CresaPartners is a member of one of the leading real estate organizations in the world, covering 35 countries. For more information, visit www.cresapartners.com.
About Precision Aviation Group (PAG)
PAG is a leading provider of products and value-added services to the worldwide aerospace and defense industry. With sales/service facilities in the United States and Canada, PAG uses its distinct business units and customer focused business model to serve aviation customers through two business functions – Aviation Supply Chain and Inventory Supported Maintenance, Repair and Overhaul – (ISMRO). PAG provides parts and MRO services for helicopters and fixed-wing aircraft through Precision Heliparts (PHP www.heliparts.com) and Precision Avionics & Instruments (PAI www.precisionavionics.com) in Atlanta, GA and Precision Heliparts – Canada (PHP-C www.heliparts.ca) and Precision Accessories & Instruments (PAI-C www.paicanada.ca) in Vancouver, BC. PAG has MRO capability on 8,000 different products, including accessories, avionics, instruments and starter generators. For more information, visit www.precisionaviationgroup.com.