Falcon Hill Aerospace Research Park Invests Over $250 Million Into Utah’s Economy

Pete CodellaArticles

The Falcon Hill Aerospace Research Park is the largest Enhanced Use Lease (EUL) in the Air Force and one of the largest commercial EULs in the Department of Defense. It results from an unprecedented and ongoing public-private partnership between the Air Force and Sunset Ridge Development Partners (a joint venture between Woodbury Corp. and Hunt Companies) that allows commercial property development both on-and off-base.

“Falcon Hill is experiencing exponential growth and focusing on facilitating partnerships between the public and private parties,” said Taylor Woodbury, the Falcon Hill Aerospace Research Park project manager. “We are excited that national defense contractors and other significant aerospace companies are choosing to come to Falcon Hill and create and strengthen partnerships with Hill Air Force Base.”

Under an Air Force EUL, the venture allows a commercial property to be built on Hill Air Force Base’s land. Falcon Hill has over one million square feet of commercial space completed and under development. Hill Air Force Base represents over 50% of Utah’s defense sector and almost 30,000 jobs.

Falcon Hill is one of the most strategically located aerospace research parks in the nation. This 550-acre private development will feature over two million square feet of commercial space in its first phase, with additional phases planned. This development offers unmatched location, expansion capability, staging benefits, and infrastructure.

The facility offers space accessible to the public, both inside and outside of the base’s security fence. Property highlights inside the fence include:

  • Total available square footage: 45,910 rentable square feet
  • Minimum square footage: 3,000 rentable square feet
  • Floor plate size: 35,315  / 35,604 rentable square feet
  • Lease rate: $33.00 per square foot / full-service
  • Ample parking 
  • Occupancy within four months of lease

Falcon Hill is also pre-leasing property outside the fence. Property highlights outside the fence include:

  • Flexible development options for any asset type and size requirement
  • 90,000 square feet, three-story office building planned 
  • Lease rate: $21.50 triple net per square foot plus

Additional information about Falcon Hill is available here.