FBO operator Modern Aviation continues to expand its presence across the US following the signing of a purchase agreement to acquire two hangars from Floors and Doors at Centennial Airport in Denver. The acquisition is expected to close in the next few months and once complete will bring Modern Aviation’s total hangar footprint at Centennial Airport to approximately 179,000 sq. ft. and its total office footprint to around 129,000 sq.ft.
The properties include around 113,000 sq. ft. of structures, including 53,273 sq.ft. of hangar space, which are located directly across Interport Boulevard from Modern Aviation’s main FBO facility at the airport. . The facilities also include office space, garage space and the potential for ground subleases.
“We are excited about acquiring these properties and expanding our footprint at Centennial Airport, which is a top seven general aviation airport (based on general aviation aircraft operations) that is expected to continue to grow well into the future,” said Modern Aviation’s CEO Mark Carmen.
He also noted the company has been seeking opportunities to expand its operations at Centennial Airport since its original FBO acquisition there in November 2018. Modern closed the acquisition of certain leasehold improvements from the SunBorne Companies at the airport in 2021, which included Modern Aviation taking over the Signature Flight Support South FBO at the expiration or earlier termination of its current operating agreement. This, said Carmen will “enable Modern Aviation to operate the entire south side of Centennial Airport under Modern Aviation’s FBO operation and give Modern the largest FBO footprint at Centennial Airport.”
He continued that in early 2023, the company celebrated an important milestone in its growth plan at the Denver hub when it completed its expansion project adding 52,000 sq. ft. of hangar space, 4,000 sq. ft of attached office space, a 7,000 sa. ft. new FBO terminal and 135,000 sq. ft of new ramp. “This most recently announced acquisition will enable Modern Aviation to leverage our outstanding reputation at Centennial for customer service and safety as illustrated by our consistent ranking as the best FBO at Centennial Airport.”
Commenting further on the acquisition, Chris Hamler, Floors and Doors said: “We made the decision to develop these facilities at Centennial Airport because we wanted to give back to an airport and community that had been so great to us for so many years. Early in the process it was obvious that Modern Aviation shares the same vision to expand and continue to invest in this base. We are excited about this transaction and the long-term impact it will have at Centennial Airport.”
