B U S I N E S S & C O M M E R C I A L
“Airports need to
develop their facilities
to support the maximum
range of uses and keep in
balance with community
expectations”
Milo Zonka, real estate and development
manager at Sheltair
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recording studios are only ten minutes away,” says Bryan
Del Monte, president at the Aviation Agency, a full-service
aviation marketing company. “They come, record their music
and then fly out, and nobody knows they were ever there.
That’s much easier than going to Chicago or New York.
Business airports can take data like this and consider what
they can provide to different types of customer.”
Business airports can either wait for the right tenant to
approach them or proactively go out and find businesses to
lease land to. Either way, managers can take steps internally
to be as attractive as possible to new business.
“Airports need to develop their facilities to support
the maximum range of uses and keep in balance with
community expectations,” says Milo Zonka, real estate
and development manager at Sheltair. “Runway lengths,
ramp space, and a taxiway system that promotes safety
and efficiency are important. Fair and open procurement,
equitable dealing with all tenants, and being a reliable
partner to the private sector is also crucial.
“Service providers are usually small businesses making
an investment in the airport at great risk to themselves. There
will always be market risk and the challenge to manage
one’s own business, but if airports can act in a way so as not
to contribute to the risks, so much the better for all.”
Facilities first
The provision of maintenance, ground handling and fuel is
also an important consideration if attracting aviation-related
tenants. A business is more likely to buy into an airport’s
real estate if it has the facilities to attract customers.
“If the airport is located somewhere bad, it doesn’t matter
how many great attractions you have,” says Del Monte. “But
most airports are well located, so it does come down to
amenities and the types of FBOs and MROs that are there.
“For example, the area
surrounding Vero Beach
Regional Airport in Florida
has an exceptionally high
concentration of very wealthy
individuals. Those airplanes
don’t land at Vero Beach and
instead go to Palm Beach
International, around a 30
minute drive to their homes.
They land there because it has
the high-end FBOs, MROs, and
the ability to service those types of
turbine aircraft.
“When we looked at Vero Beach
and discussed a growth strategy we stated
to them that they had to embrace the types of
business they were already getting. That meant becoming
a destination airport focused on general aviation and giving
that group as much love as possible. That would attract the
businesses that supported general aviation, leading to more
rents, more foot traffic, and more revenue for everyone.”
Sheltair’s Zonka agrees, “Jet users need to know they
can get affordable, quality services from an airport, whether
they base there or arrive and depart as a transient and
they need to be comfortable that it is a safe,
well-maintained facility,” he comments.
Ups and downs
The financial perk of leasing airport
real estate is clear, but that isn’t the
only benefit. Fort Lauderdale Executive
Airport, Florida recently developed an
office park adjacent to the airport that is