Grayson Co. Airport Tenant Drops Out Of Hangar Deal - KTEN.com - No One Gets You Closer

Grayson Co. Airport Tenant Drops Out Of Hangar Deal

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GRAYSON COUNTY, TX -- The tenant for the first new hangar on the west side of North Texas Regional Airport-Perrin Field has backed out of the deal.

Texas Turbine Conversions had planned to move across the runway, but now the company,  which just moved from Celina last summer, says in a statement that it can't meet the deadlines in the contract, and decided to stay in their current hangar.

"The company came in when we were already in the process of thinking about building a hangar, and so we were just trying to do a build-to-suit to fit their needs," says airport director Mike Shahan. "It was still what we wanted to build was a hangar of this type."

The company has 20 employees and puts new engines into small planes. Shahan says they need to build the $1.3 million hangar by June to cash in on an insurance payout from two roofs damaged in a storm.

So far, some initial dirt work has been done at the site. The shell building will be marketed to potential tenants and Shahan says the company may still consider leasing it at a future date.