Miami-Dade County Seeks Warehouse Deal For Miami Airport Expansion

Miami-Dade County could purchase a warehouse just east of Miami International Airport from Prologis to facilitate the airport’s growth.

The county’s Airport and Economic Development Committee will consider the $17 million purchase of the 3.44-acre site at 3901 and 3975 N.W. 25th Street, plus 3900 N.W. 26th Street, from MIA at 25th Street LLC, an affiliate of San Francisco-based industrial giant Prologis. The county also agreed to pay up to $120,000 in closing costs. It currently has a 77,904-square-foot warehouse that was constructed in 1956.

The buildings received two appraisals, one for $17 million by Walter Duke and another for $17.2 million by Waronker & Rosen. If it passes committee, the deal would need final approval from the County Commission at a later date.

According to the county staff memo, the four existing tenants have been notified that their leases would be terminated and the building would be demolished within six month of the acquisition. Sportech Auto Performance is among the tenants.

The Miami-Dade Aviation Department wants to use the land for parking and a construction staging area to facilitate its capital improvements at the airport, according to a staff memo. Given the limited amount of free space at the airport, MDAD needs a site nearby to store construction-related materials as it works on expansion at the airport.

There are several big projects in the works at MIA, including the $39.9 million redesign of the Central Terminal and the $400 million Vertically Integrated Cargo Community (VICC) facility. The county has been actively buying property around the airport, including the purchase of an office building in August.

Source: SFBJ