The U.S. Navy is mulling its options to renovate or redevelop its 42-acre SPAWAR complex in Old Town — a former aircraft factory — as well as a nearby 24-acre complex on Sports Arena Boulevard.

The service has set a Nov. 5 tour for business leaders interested in the site formally known as Naval Base Point Loma Old Town Complex.

The Navy said it wants modern facilities for its tenant commands, including the Space and Naval Warfare Systems Command (or SPAWAR), which buys and works with information technology. Cybersecurity and communications are two of SPAWAR’s specialties.

In a Request for Interest dated Sept. 18, the Navy said it may accept a ground lease with in-kind consideration. However, it also said it is open to projects other than a long-term lease — including a property exchange.

The Old Town site contains “known property contamination” because of wartime aircraft manufacturing, the Request for Interest said.

Those who want to attend the Nov. 5 tour must preregister by Oct. 19. Information is available by sending an email to NBPLOTCRevitaliz.fct@navy.mil.

The Navy has set a Jan. 18 deadline for interested parties to respond to its request for interest. The San Diego-based Naval Facilities Engineering Command is the government office in charge of the effort.