SR Aviation Infrastructure (SRAI), a subsidiary of New York- and Nashville-based real estate investment and development firm SomeraRoad, has acquired Republic Jet Center and Stratosphere Development at Farmingdale Republic Airport (FRG), securing more than 50 acres of developable land.
SRAI plans to execute on approved development plans to deliver new, high-quality hangar space at the airport, which the firm describes as a key hub for business aviation in the New York metropolitan area. Republic Airport is increasingly positioned as a pressure valve for regional air traffic, as congestion, capacity constraints and persistent delays continue at competing airports such as Teterboro Airport and Westchester County Airport.
“Farmingdale is one of the most important private aviation airports in the New York metro area and represents a pivotal step in SRAI’s continued growth and leadership in the general aviation infrastructure sector,” said Jonathon Reeser, President of SRAI.
The acquisition deepens SRAI’s national footprint, which includes SRAI Las Vegas, SRAI San Antonio and SRAI Bozeman.
Pictured: SRAI Farmingdale rendering
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