SR Aviation Infrastructure Acquires Republic Jet Center, Development Site at Republic Airport
SR Aviation Infrastructure has acquired Republic Jet Center and Stratosphere Development at Republic Airport in Farmingdale, New York, securing more than 50 acres of developable land for future aviation infrastructure projects.
The acquisition was announced by SR Aviation Infrastructure, a subsidiary of real estate investment and development firm SomeraRoad, which is based in New York and Nashville. The company plans to complete previously approved development plans to construct new hangar facilities at the airport, targeting demand from corporate flight departments, charter operators and other business aviation users.
Republic Airport is a key reliever airport for business aviation activity in the New York metropolitan area. Located on Long Island, the airport provides an alternative for operators facing congestion and operational constraints at nearby airports such as Teterboro Airport and Westchester County Airport.
According to the company, the multi-phase development will include modern hangar space designed to accommodate larger and newer business jets, with hangar door heights reaching 28 feet. The project is intended to expand available aircraft storage and support infrastructure at the airport.
“Farmingdale represents a significant growth milestone for SRAI and marks the expansion of our national portfolio into one of the country’s most dynamic private aviation markets,” said Jonathon Reeser, president of SR Aviation Infrastructure.
Monte Koch, senior advisor to the company, said the development is intended to address increasing demand for hangar space in the New York region, where available aircraft storage has become increasingly limited.
“As demand for private and business aviation continues to surge, accessible hangar space in the New York region has become extraordinarily scarce,” Koch said.
SR Aviation Infrastructure focuses on the acquisition, development and leasing of aviation-related real estate, including hangars and other facilities serving corporate aviation, flight schools, maintenance providers and charter operators.
The company is building a national portfolio of aviation infrastructure assets and currently holds projects in Las Vegas, San Antonio and Bozeman.
Republic Airport is one of the busiest general aviation airports in the New York region and plays a significant role in supporting corporate aviation activity serving the metropolitan area.