Airport & Aviation Appraisals, Inc.

The following are brief descriptions of selected work that has been performed by Airport & Aviation Appraisals, Inc. nationwide on:

Lakefront Airport, New Orleans, LA (Orleans Levee Board) — Valuation of all airside improvements on the airport.

Twin Cities, Benton Harbor, Michigan — Valuation of fixed base operation’s interest in a fuel farm prior to potential buyout by airport sponsor.

Delta Fuel Farm, Hatsfield International Airport, Atlanta, GA — Valuation of airline’s leasehold interest of a 24,400,000 gallon fuel farm to determine market rental rates.

Roanoke Regional Airport, Roanoke, VA — Appraisal of a heavy maintenance operation, an FBO, a Charter Operation, and a corporate aviation hangar.

New Castle County Airport, Wilmington, DE (Delaware Skyways.) — Appraisal of leasehold interests, fixed assets, inventory, and intangibles; also including all equipment, machinery, and aircraft located at New Castle County Airport, Wilmington, Delaware.

Youngstown Municipal Airport — Valued entire airport for City of Youngstown and evaluated potential "privatization" and sale of facility. Retained by Western Reserve Port Authority to negotiate leases and airport use agreements with fixed base operator, all airlines and United States Air Force Reserve.

Summit Airpark, Middletown, DE — Appraisal of entire 520 acre airport and fixed base operation/maintenance business under the ownership of Summit Aviation, located at Summit Airport in Middletown Delaware.

Trans-World Airlines (various locations) — Appraisal and appraisal review regarding various TWA properties in a variety of locations such as JFK International Airport, New York, Chicago O’Hare Airport, Philadelphia International Airport and Boston Logan Airport.

Orleans Levee Board/ Aero Services, Lakefront Airport, New Orleans, La. — Review of Leasehold to determine Fair Market rental rate.

Gold Hill Airpark, Morgan Township, North Carolina — Valued unimproved land for Bank of Stanley on a residential airpark.

East Hartford Airport, East Hartford, Conn. — Retained by United Technologies to develop valuation for potential fee simple disposition of major improved airport facility owned and operated by United Technologies. Valuation includes estimation of potential fee simple airside property sales for aviation/industrial users.

Barnstable Municipal Airport, Hyannis, Massachusetts — Feasibility analysis relating to airport sponsor’s acquisition of large airline-type maintenance hangar and preparation of a report outlining recommendations. Valuation of Market Rental for four airside parcels of improved and unimproved land.

Long Island Mac Arthur Airport, Islip, New York — Determination of Market Rental for underlying site for two fixed base operations. Assignment also involved the estimation of the amount to be paid the airport should the lessee be granted an extension of the underlying ground lease and the airport postpone the reversion of the improvements until the expiration of the new lease.

TF Green State Airport, Providence, Rhode Island — Valued leasehold interest of air-carrier’s position in Old Terminal Building as a part of a buyout leading to the construction of a New Terminal on the same site.

South Jersey Regional Airport, Lumberton, New Jersey — Valuation of entire, privately owned public airport facility which is a participant in AIP Program. Included land improvements and going concern value of fixed base operation for a financial institution.

Rochester Aviation, Rochester, Minnesota — Valuation of fixed base operation and air-charter operation for possible acquisition by a purchaser. Assets included real property, aircraft, existing contracts and inventory.

Tinticum Fuel Farm, Philadelphia International Airport, Philadelphia, Pennsylvania — Valuation of airline consortium’s leasehold interest of a 1,000,000 gallon fuel farm to determine market rental rates.

Francis S. Gabreski Airport, Westhampton Beach, New York, — Valuation of all airside land and improvements along with landside industrial land and improvements to determine market rental rate. Valuation included feasility study and analysis of absorption and likely Highest and Best Use for all airside real estate.

Cape May Airport, Cape May, New Jersey — Valuation to determine market rental rate for all vacant and available airside property. Appraisal to determine fee simple value and market rental rates for two on-airside industrial buildings.

Missoula International Airport, Missoula, Montana — Valuation of on airport parcel to determine market value as a part of a transaction involving a land swap between the airport and another governmental agency.

Time Warner Corporation, MacArthur Islip Airport, Islip, New York — Valuation of large corporate/FBO hangar as a part of a potential purchase by a corporate entity.

Detroit Metro Airport, Detroit, Michigan — Valuation of unimproved land to determine compensation as a part of an airport land acquisition and runway expansion program.

Muncie Airport, Inc., Muncie, Indiana — Consulting assignment relating to utilization and integration of "through the fence" airside property in conjunction with a large fixed base operation.