There is a saying in the aviation business that if you’ve seen one airport…you’ve seen one airport. There may be truth in that axiom, but not when you’re talking about a shortage of hangar space among the top 200 or so airports frequented by business aviation passengers. The problem is not new to the industry, but it has become more acute over time for multiple reasons, the first being simply that large markets tend to attract large amounts of business aircraft.
“The problem is people want to be in Los Angeles, Teterboro, Miami, DFW—they want to be in specific places,” said Milo Zonka, vice president of real estate with Florida-based FBO operator and hangar developer Sheltair. “Florida, in general, is definitely constrained—everything from Miami, Fort Lauderdale, Naples, Orlando, Tampa, Jacksonville is full. Of course, we’re really talking about those hangars that can accommodate anything. If you are scrounging for a 16- to 18-foot hangar for a light jet, you might be able to find something in a secondary market.”
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