California-based aviation property management firm Aeroplex/Aerolease Group has completed a new $7.5 million hangar complex at Van Nuys Airport. The three-acre development includes 38,000 sq ft of hangar space to accommodate business aircraft as large as ultra-long-range jets; more than 55,000 sq ft of new aircraft ramp and staging areas; 8,500 sq ft of shop, office and terminal space with conference, kitchen and lounge facilities; and a private gated parking lot with spaces for more than 45 vehicles. The company operates a six-acre facility at the dedicated general aviation gateway.

One of the airport’s oldest tenants, Aeroplex, is celebrating its 40th anniversary this year. “Our new development not only enables Aeroplex/Aerolease Group to better serve business aviation’s diverse needs, but also creates approximately 100 new highly skilled jobs in our community,” said company president and CEO Curt Castagna.