Modern Aviation expands presence with new acquisitions at Centennial Airport

Boeing 777X | The Boeing Company

By Sky Industry News

Jul 1, 2024

Modern Aviation has announced a definitive purchase agreement to acquire two hangar and office structures from Floors and Doors at Centennial Airport. The acquisition includes Hangar 9 at 8156 Interport Boulevard and Hangar 10 at 8208 Interport Boulevard, totaling approximately 113,000 square feet of structures. This comprises 53,273 square feet of hangar space, 52,406 square feet of office space, and 7,320 square feet of garage space. The deal also involves ground subleases on 280,526 square feet of land.

The hangars are located across from Modern Aviation’s main FBO campus at the airport. Although both hangars are fully occupied, there is about 15,000 square feet of Class A office space available for long-term rental.

Mark Carmen, CEO of Modern Aviation, stated, “We are very excited about acquiring these properties and expanding our footprint at Centennial Airport." He highlighted that Centennial is among the top seven general aviation airports based on aircraft operations and emphasized their ongoing efforts to grow since acquiring an FBO there in November 2018. Carmen detailed past acquisitions including a three-story office building and a hangar complex acquired in November 2021 from The SunBorne Companies.

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Carmen added that in early 2023 they completed an expansion project which increased their facilities by adding significant hangar space and a new FBO terminal. He noted this latest acquisition will further enhance Modern Aviation's reputation for customer service and safety.

Chris Hamler from Floors and Doors commented on the transaction saying it aligns with their vision to invest in Centennial Airport. "We made the decision to develop these facilities because we wanted to give back to an airport and community that had been so great to us," Hamler said.

The acquisition is expected to close in the coming months. Once finalized, it will increase Modern Aviation's total hangar footprint at Centennial Airport to around 179,000 square feet and its total office footprint to approximately 129,000 square feet.