Private JV To Invest $400M To Build, Operate New Miami Airport Cargo Facility

A private consortium has been approved to build and run a new 784,000-ft.² cargo facility at Miami International Airport (MIA), scheduled to open in 2029.

The four-story-tall cargo center will be “vertically integrated” and boost cargo capacity at the airport by “at least 50%,” according to Miami-Dade County, which owns MIA.

The consortium is called Miami Gateway Partners (MGP), a joint venture between Airis Aviation Development and Vantage Airport Group. MGP will lease 11 acres of airport land from the county for 40 years and invest at least $400 million “to design, build, finance, operate and maintain” the cargo facility, according to Miami-Dade County.

The county’s board of commissioners cleared the deal on July 16. “The new facility will bring MIA’s total capacity to a minimum of 4.5 million tons of cargo [annually] and potentially 5 million tons [annually],” the county said, noting the new facility is being designed to process at least 1.5 million tons annually.

According to Miami-Dade County, the site will include "an automated and mechanized cargo handling system, up to 189 truck docks, dock operations, cargo acceptance, intermediate automated storage and retrieval systems [and] buildup/breakdown stations." Department of Homeland Security services will also be housed at the facility, "including federal inspection and screening facilities," as well as food and retail offerings, the county said.

MIA said the airport needs to be able to handle a total of 4 million annual tons of cargo by 2031, rising to 5 million tons by 2041. Without the new facility, the “projected cargo volumes put MIA at risk of considerable cargo volume leakage to competing airports and cities,” the county said.