Modern Aviation Acquires Property and Future FBO Operating Rights at Centennial Airport

Modern Aviation has announced it has closed the acquisition of certain leasehold improvements from The SunBorne Companies at Centennial Airport (KAPA). The leasehold improvements include a 62,000 square foot, three story office building at 8001 InterPort Boulevard, which houses several tenants as well as the Signature Flight Support FBO Terminal at Centennial Airport, and a 38,000 square feet hangar complex at 8123 InterPort Boulevard, primarily leased by Signature for its FBO operation. The acquisition also includes a ground sublease on 318,652 square feet of land underlying the properties mentioned above and parking and other areas.

Also, as part of the acquisition, Modern Aviation will take over the FBO currently operated by Signature Flight Support at the expiration or earlier termination of its current operating agreement. This would enable Modern Aviation to consolidate the entire south side of Centennial Airport under Modern Aviation’s FBO operation and give Modern the largest FBO footprint at Centennial airport.