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 of land at Miami Executive Airport. The project involves the development of aviation hangar facilities, taxi lane, and ancillary infrastructure. MQ TMB Holdings, LLC is required to invest a minimum of $7,000,000.00. The lease term is 25 years with one five-year renewal option. The County anticipates an estimated $6,372,695.00 in projected revenue over the initial term. The development will occur in two phases, with the first phase including hangars, office space, and infrastructure, and the second phase including an aviation school building and an FBO terminal. The agreement is subject to conditions precedent, including approvals from traffic and consulting engineers and the Federal Aviation Administration (FAA). MQ TMB Holdings, LLC is also committed to community benefits, including donations to George T. Baker Aviation Technical College and efforts to minimize noise impacts.