Google leases Moffett Airfield from NASA for $1.16 billion

Moffett Federal Airfield, home to the gigantic, eight-acre Hangar One, is now under new management.

Google-owned Planetary Ventures, LLC signed a $1.16 billion lease for the airfield. The company plans to restore the historic structure and save NASA about “$6.3 million annually in maintenance and operation costs.” NASA will accrue the $1.16 billion over the length of the 60-year lease.

See also: Google Wins Contract to Lease NASA-Owned Historic Airfield

According to NASA Administrator Charles Bolden, as the agency focuses its attention and equipment on space, it’s “making strides to reduce [its] footprint here on Earth.” Read more...

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