Tuesday, June 13, 2017

Corporate Eagle to build new HQ at Oakland County International Airport (KPTK)




Corporate Eagle is planning to build a new facility at the Oakland County International Airport after being selected for a 5.7-acre parcel of land there.

The Waterford Township-based provider of fractional jet ownership and jet management services competed against several other organizations for the highly-sought property on which it will build new headquarters and hangar from the ground up, company CEO Rick Nini said.

The company has outgrown its current 58,000-square-foot facility at the airport, which can house 15 aircraft, Nini said. It is broken up into two hangar bays combined with an office building and a separate hangar bay.

"We're so chopped up, and we're cleaning all that up with this (new project)," Nini said. "It's going to be much more efficient."

The new facility will be between 70,000 and 75,000 square feet and hold up to 20 aircraft. There will be attached office space and a VIP area for members.

"Corporate Eagle has experienced tremendous growth over the last few years …" Nini said. "In the past five years, Corporate Eagle has doubled its member base and significantly increased our staff."

Corporate Eagle employs 57 people, including 32 pilots, and has 14 aircraft, according to a company news release. It has 41 members from Southeast Michigan. Nini said he hopes to soon grow to 90 employees and 55-60 members.

The company's aircraft include the Dassault Falcon 2000, Raytheon Hawker 800XP and Beechcraft Super King Air B200. The company also manages several private aircraft for families and businesses. Nini said the company is planning to announce acquisition of a new larger and longer-range aircraft.

Nini did not disclose how much will be invested in the new project. He said he hopes to break ground by the end of summer or start of fall, and to complete the project within a year after.

Architecture is being handled by Howell-based Squires Architectural Group and Bloomfield Township-based Young & Young Architects. The general contractor is still being finalized, Nini said.

Corporate Eagle took a hit in the recession, with revenue falling from $13 million in 2007 to $8.5 million in 2009, Nini told Crain's in 2015. The industry was hurt in 2008 when the CEOs of General Motors Co., Chrysler Corp. and Ford Motor Co. flew on corporate-owned jets to go before Congress seeking a publicly financed bailout to save their companies from collapse.

The company has bounced back, posting a record year in 2016, during which it "flew more than 2,000 trips with over 9,000 passengers — landing in 27 different countries," Nini said.

A company spokeswoman said there are not yet plans for the current facility after Corporate Eagle changes headquarters.

Original article can be found here: http://www.crainsdetroit.com

No comments: