Mayor Daniella Levine Cava Purchases Miami Park 'N Fly And Car Rental Facility For $45M

The Miami-Dade County Aviation Department, represented by Mayor Daniella Levine Cava, has acquired an industrial property located at 2800 Northwest 39th Avenue in Miami. The property spans 11.5 acres and includes a Park 'N Fly and car rental facility near Miami International Airport. The purchase price for this transaction was $45 million.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $45,000,000
• Acreage: 11.5 acres
• Square Footage: 198,500 sqft
• Address: 2800 Northwest 39th Avenue, Miami
• Market: Miami

The seller of the property was Michael and Ronald Simkins. The buyer was represented by Mayor Daniella Levine Cava on behalf of The Miami-Dade County Aviation Department. The transaction also involved leasing part of the property to Budget Rent a Car while retaining Park 'N Fly under a five-year agreement with management fees and revenue sharing. Brokers involved in the deal were Alan Leon from Keller Williams and David Kreps.

With this acquisition, the Miami-Dade County Aviation Department aims to secure the property for potential future airport growth, further expanding their presence near Miami International Airport.