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Airport seeks council briefing on sale of 14.24 acres and option on nearly 18 more to AT Acquisitions
Summary
Airport staff briefed the committee on a joint resolution to sell 14.24 acres of surplus property and grant an option on an additional 17.96 acres to AT Acquisitions; appraisal and option prices were cited and staff said the parcels are non‑aeronautical surplus property.
Airport officials briefed the Finance & Administration Committee on a joint resolution to authorize the sale of 14.24 acres of surplus, non‑aeronautical property and to grant an option to purchase an additional roughly 17.96 acres, for a total of about 32.2 acres south‑west of the terminal near McFarland Road.
"Today we're seeking approval or briefing you on the approval rather, probably of a joint resolution for the sale of 14.2 acres of land and option to purchase another 17.96 for a total of 32.2 acres of land," Todd Woodard, director of marketing and public affairs at the airport, said. He said AT Acquisitions is the sole respondent to the airport's advertised letters of interest and that the parcels border three existing warehouse pads where 187,000‑ to 218,000‑square‑foot warehouses have been constructed in recent years.
Woodard described an appraisal value of "$2.55, which is a little above fair market value, which was determined $2.50," and said the option to purchase nearly 18 acres would be priced at $2.50 over a three‑year period. He said the slightly discounted option price reflects city and water utilities that cross the property.
Committee members asked about the airport's marketing process; Woodard said the airport advertised for a month (early December into January) and received a single letter of interest from AT Acquisitions. Members also asked whether city or county entities had submitted interest; Woodard said he did not receive any letters of interest from the city or county.
Staff said the sale requires segregation/platting and FAA approvals (an airspace study) as part of the purchase and sale agreement and that traffic and infrastructure permitting questions would be the responsibility of the new property owner at permit time.
Woodard noted prior nearby airport projects, including three large tenant warehouses built since 2020 used for logistics and for Amazon electric vehicle operations, and said the new pads are expected to replicate that industrial style development.
