Centurion Air Cargo Facility Breaks Ground
A new $120 million industrial and infrastructure development at Miami International Airport (MIA) recently broke ground to house the operations of Centurion Air Cargo, Inc. The 800,000 square foot project is a co-development by Bristol Group, Inc. and Aeroterm in conjunction with the Miami-Dade Aviation Department (MDAD) and includes the redevelopment of a hangar and construction of a new cargo warehouse facility. MIA is the number one international air cargo airport in the United States by volume. The project will have a significant regional economic impact, increasing productivity and creating jobs in Miami-Dade County.

“We are excited about the economic impact of this project and look forward to working with MDAD to continue to support their growth objectives and best in class environment,” commented Jeff Kott, Managing Partner at Bristol Group. “Miami is a gateway for commerce between North, Central, and South America. The airport plays a critical role relative to the movement of goods between these regions and this project will help pave the way for the projected 5.7% annual growth in air cargo traffic between the United States and Latin America over the next 20 years.”



The project is 100% pre-leased to Centurion Air Cargo, Inc., the largest air cargo operator at MIA and the largest carrier of perishable goods between North, Central, and South America. Once completed next year, the new facility will enable Centurion to consolidate from seven locations on and around the airport into one facility on tarmac. As a result, the streamlining of Centurion’s operations will eliminate approximately 22,500 truck trips annually, reducing carbon monoxide emissions and easing congestion on local roads. The new warehouse will include 147,000 square feet of refrigerated space and is designed to accommodate single or multi-tenant occupancy. The hangar will be equipped to accommodate the maintenance and repair of wide-body aircraft. The facility is situated on 47 acres and has direct airside access with eight wide-body aircraft parking positions that will be constructed as part of the project.

John Cammett, CEO of Aeroterm commented, “We are honored to have been selected by Centurion Airlines as developer of the largest air cargo facility to be built at Miami International, one of the Nation’s most dynamic airports.”

“We see this as an important investment in the infrastructure of the global pathway of goods. This project will increase throughput capacity and the quality and lifespan of perishable goods traveling through MIA,” remarked Jim Curtis, Managing Partner at Bristol Group. “The choices and investments we make shape the future. We believe this project will improve the quality of life and have a positive impact on the economic productivity of the region.”



Another critical aspect of this project is job creation. In addition to the immediate creation of 650 on-site construction jobs, when the project is completed next year, over 700 full time employees will be placed in service. Within three years of opening, another 200 new jobs will be added. Due to the dynamics of the air freight market, this project will also support regional and global jobs, benefiting those economies as well. “As with all of our projects, job creation is a fundamental part of this development and ensures that it will be an asset for the local and regional communities” added Erin Gruver, Aeroterm’s Executive Vice President.

Aeroterm, a division of Realterm Global, is the leading provider of airport facilities and services in North America, with over 130 facilities managed and under development encompassing more than twelve million square feet across 35 markets, and leading market positions in key international air cargo gateway markets including Chicago, New York, Miami, Houston, Dallas and Montreal. Aeroterm continues to expand its network of air cargo and airport support facilities with the objective of servicing its customers and building investor value. Aeroterm and its affiliates are the largest private third party owner of cargo facilities at MIA.

Bristol Group, Inc. founded in 1980, is a real estate investment and development firm based in San Francisco, California. The firm has a successful history in a wide variety of innovative real estate related, infill value-add opportunities. Bristol Group’s holdings are concentrated in Miami, New Jersey, Washington, D.C., Chicago, Southern California, and Hawaii. The firm has acquired, developed, or redeveloped over $2.5 billion of real estate.

The capital market advisory was handled by Michael L. Caprile, Vice Chairman of CBRE’s Capital Markets Institutional Group.