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GlobeSt.com UPDATE: County Budgets $12 Mil for Land Buys

MIAMI-The Miami-Dade County Aviation Department is looking for willing sellers in roughly a 20-acre industrial-warehouse section along the southwestern edge of Miami International Airport. The county will be paying top dollar for the dirt--about $50 per sf or an average $2.5 million per acre.

By David R. Corder | Updated on July 16, 2001

MIAMI-To satisfy ever-present cargo needs, the Miami-Dade County Aviation Department is building a war chest to buy mostly industrial-warehouse property in roughly a 20-acre section along the southwestern edge of Miami International Airport.

The dirt isn’t going to come cheaply. Average asking prices are $57 per sf or about $2.5 million per acre.

Last week, the Miami-Dade County Commission ratified a joint-participation agreement with the Florida Department of Transportation to accept $6 million in 50% matching tax dollars to help pay for airport land acquisition costs.

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