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Expanding Miami International Airport: County Considers $45 Million Lot Acquisition Near Airport

Miami-Dade County is considering a strategic acquisition near Miami International Airport to support its expansion plans. The proposed $45 million purchase involves an 11.5-acre site at 2800 N.W. 39th Ave. from Simkins Airport Property LLC, managed by experienced real estate investors Michael Simkins and Ronald Simkins in Miami.

The transaction is set to be evaluated by the County’s Airport and Economic Development Committee on Oct. 12. If approved, it will proceed to the full County Commission on Nov. 7, requiring a two-thirds majority vote due to a bid waiver. The purchase price is based on two independent appraisals.

Presently, the property encompasses 198,440 square feet of office and warehouse space, operating as both a Budget Rent A Car and a Park ‘N Fly lot.

In addition to acquiring the property, the county intends to lease the 3.95-acre rental car section to Budget for $41,667 per month until May 31, 2024. For the remaining area, the county will pay Park ‘N Fly Service LLC an annual fee of $40,000, plus 5% of gross revenue, for parking lot operations. The county anticipates generating at least $1.6 million in annual revenue from the parking operation.

This acquisition aligns with Miami International Airport’s future growth plans, particularly in accommodating the airport’s terminal support facility needs on the eastern side, as outlined in a county staff memo. This move follows a similar acquisition in 2021 when the county purchased a warehouse/office building near the airport for $11.85 million for similar expansion purposes.

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