A new online marketplace is aiming to become the source for all things aviation real estate. Hangar Network, which made its official debut earlier this year, is positioning itself to become the go-to source for available hangar space and developable airport real estate. “We really set out to create a website and service that is comprehensive for aviation real estate listings,” said Iver Retrum, manager of the Colorado-based company.
Before the launch of the site, he said, there was no one-stop clearinghouse for such a specialized niche, forcing airports and FBOs alike to advertise their vacant properties in a scattershot manner. “You go through a variety of different ways in an attempt to get out there and market it, and you use things like a commercial real estate broker who has no idea how the aviation market works,” Retrum told AIN.
At last year’s NBAA annual meeting and convention, the company demonstrated a beta test site and received a warm reception from the airport operators in attendance, especially those with available real estate. Those who have available hangars can list them along with their coordinates on a map, allowing potential customers to view availability by region. “We have a system here where the user goes in and puts a marker on where his hangar is,” said Retrum, noting that his company then verifies the accuracy of the information. “What it’s basically doing is mapping out all these different hangars.”
Users can view listings for free, and private hangar and real estate owners can post listings without charge, while commercial customers such as airports, FBOs and real estate brokers must pay for an “enhanced” or “premium” subscription.
Once a user creates an account, he can put a listing on the site for property sale, lease, or even for a transient situation where a hangar might be vacant for a period of time. “Say you are gone for a month and you would like to lease out a portion of your hangar on a transient basis; the idea is that this opens up a market where people can offer available temporary space,” said Retrum. For airports, the site features a tool called the Hangar Network Portal that lets them import their Hangar Network page to their own website to display available property without having guests leave their website.
Currently there are approximately 260 listings on the site and its creators are striving to build up its clientele. The company received a major boost in July when it announced a deal with Signature Flight Support to market available office and hangar space at all of the FBO network’s 67 U.S. locations. “That was validation that this service is indeed needed,” said Retrum, adding that the BBA Aviation subsidiary was eager to find a marketplace where it could list all its properties. “It has to be a place where everybody feels safe in putting their available real estate whether it’s office or hangar, land, to kind of point everybody to the same place,” said Retrum.
As the site gains momentum, its designers expect it will be a tool for comparing available spaces in specific regions. Retrum also believes Hangar Network’s listings will eventually encompass airports around the world.