Atlantic Aviation is pursuing construction permits to build its third private aircraft hangar west of Orlando International Airport, a projected $5 million investment driven by growing airport traffic and larger jets entering the market, the company's area general manager told GrowthSpotter.
Atlantic currently operates a terminal for private and corporate aircraft on 12 acres at 9309 Tradeport Dr., with two hangar buildings that total 55,000 square feet. Those house about 25 jets, and the space is fully leased.
The company's plan is to build a third hangar to meet new demand, with 25,000 square feet of space that could accommodate five to 10 new jets, and an attached 3,500 square feet of office space available for lease by aircraft operators.
"We've seen a couple things over the past two to three years that led us to this (expansion). One factor has been the nice organic growth in the market, a general uptick in activity at the airport and a high level of demand for hangar space from both itinerant traffic visitors, and locals that might base a private aircraft here," said Tony Sherbert, general manager for Atlantic's hangars in Orlando, St. Augustine and Jackson, Miss. "We've also seen a trend of larger footprints with these private jets, which requires larger space to house them."
Activity for this type of aircraft was up last year at Orlando's main airport. For the flight category dubbed "general aviation" that includes these non-scheduled civilian aircraft, there were 15,214 operations in 2016, up from 15,062 the year prior.
The company filed construction permit applications last week with the City of Orlando and the South Florida Water Management District.
Sherbert estimates construction could start on the new facility and associated parking in late March, or early Second Quarter. The pre-engineered steel building would take approximately nine months to build.
Atlantic just completed its general contractor bid process, said Sherbert, and is working toward signing a contract with the chosen firm, which he declined to name.
Total investment in the project should approach $5 million, said Sherbert, who declined comment on the company's planned method of financing.