Miami-Dade County Aviation Department landed a Park ‘N Fly and motor vehicle rental facility around Miami International Airport.
The aviation department paid out $45 million for the 198,500-sq.-foot, two-developing facility spanning 11.5 acres at 2800 Northwest 39th Avenue in unincorporated Miami-Dade, east of the airport, according to documents. An entity led by Michael and Ronald Simkins was the seller.
Alan Leon of Keller Williams and David Kreps brokered the off-market offer.
Though the county bought the property to accommodate potential potential MIA progress, Miami-Dade will retain the Park ‘N Fly and motor vehicle rental small business on the site for now. According to a November personnel memo, the county will continue to lease 172,000 square ft to Spending budget Rent a Motor vehicle until eventually May perhaps for $41,700 a thirty day period. The county has the selection to renew the lease. Park ‘N Fly will keep on running its assets beneath a 5-12 months arrangement with two a person-yr extension selections. The county will pay out Park ‘N Fly a $40,000 administration charge and 5 percent of revenue.
The Miami-Dade Airport and Financial Development Committee accredited the purchase in Oct. Commissioners blessed the offer in November.
In the extensive expression, MIA demands the home to “accommodate the airport’s terminal aid facility demands as portion of” long run development, the memo states, even though it doesn’t elaborate.
The property is divided from the airport by Le Jeune Street, which means the county is extra likely to use the structures for ancillary functions such as parking rather than increasing MIA terminals that are throughout the road.
Miami-Dade has been seeking to beef up its genuine estate portfolio in recent months, but a further planned purchase did not pan out. In December, Mayor Daniella Levine Cava deferred from a fee agenda a controversial proposal for the county to fork out $365 million for office environment structures wherever Miami-Dade departments can consolidate.
Levine-Cava claimed her administration will continue negotiations, adhering to issues that the cost was $133 million extra than market place worth. The county wants to obtain the Flagler Company Middle, a generally vacant elaborate at 9250 West Flagler Avenue in Fontainebleau, as nicely as the Assurant Heart at 11222 Quail Roost Travel in South Miami Heights.
