DEVELOPMENT LEASE AGREEMENT WITH MQ TMB HOLDINGS

Aviation and Seaport Committee · 2026-06-08 · resolution

Miami-Dade County is approving a Development Lease Agreement (DLA) with MQ TMB Holdings, LLC for a 310,026 square foot parcel at Miami Executive Airport (TMB). The project involves the development of aviation hangar facilities, taxi lane, and ancillary infrastructure, with a minimum investment of $7,000,000.00 by MQ TMB. The lease term is 25 years with a five-year renewal option. The County anticipates projected revenue of $6,372,695.00 over the initial term. The development will be completed in two phases, with Phase 1 construction expected within 36 months of DLA execution and Phase 2 within 60 months. The agreement is subject to conditions precedent, including approvals from traffic and consulting engineers and the Federal Aviation Administration (FAA).