By Connor Van Ligten | YourValley
The Mesa Gateway Airport Authority voted to terminate a development lease at their Jan. 21 meeting after plans for an expansion project fell through.
The airport is operated by the MGAA, which consists of representation from Apache Junction, Mesa, Queen Creek, Gilbert and the Gila River Indian Community.
According to board documents, MGAA and Mesa SkyBridge LLC had agreed to “spin out” from property from a 2018 master lease into development leases for projects ready for vertical development. A development lease was in effect for Lot 116-B in 2023 that would have consisted of two buildings collectively consisting of around 36,000 square footage on 4 acres, but that project is no longer moving forward.
“SkyBridge has requested to terminate the development lease for Lot 116-B and have Lot 116-B restored to the master lease. Once returned to the master lease, the rentable premises is 12,655,744.65 square feet,” the court documents said.
With the termination of the development lease, SkyBridge is to pay the airport authority an amount equal to the base rent that would have otherwise been due and payable for the development parcel, a city document states. The amount is listed at $9,041.60. SkyBridge also has to pay a reimbursement fee of $3,864.49.
