With success of new North Terminal, MIA weighs retail options at Central Terminal

TRD MIAMI /
Apr.April 16, 2012 03:45 PM

Sales are booming in concessions at Miami International Airport’s new North Terminal, the Miami Herald reported, and that’s prompted Miami-Dady County commissioners to consider soliciting bids for new shops and restaurants for the aging Central Terminal.

At 7.7 percent, MIA saw the largest increase in traffic of any U.S. airport last year, and that’s bouyed concession sales. The airport’s share of those sales increased 30 percent year-over-year through the end of last September to $17 million annually. In turn, operating revenue increased 16 percent, which could be crucial to remedying the airport’s growing debt.

The Herald credits the North Terminal’s revamped concession strategy, which put an emphasis on shops and restaurants that look and feel like Miami, with much of the improved sales.

The North Terminal’s success is one factor that has turned Miami-Dade’s attention to the Central Terminal. While commissioners and airport officials insist the existing retail is performing up to expectations, it believes increased competition would boost the retail outlook of the terminal.

But existing tenants are fighting back in hopes of keeping their spaces. They argue that with a long-term redevelopment plan in place for the Central Terminal, it doesn’t make sense to bring in new tenants at this time. They say the business would have difficulty growing together with their surroundings completely in flux. [Miami Herald] and [Miami Herald]


Related Articles

arrow_forward_ios
Alitza Weiss, principal of Weiss Group of Companies and a rendering of Towers at Blue Lagoon

Weiss Group scores $21M loan for mixed-use project near MIA

Weiss Group scores $21M loan for mixed-use project near MIA
Four Seasons Hotel Miami at 1435 Brickell Avenue (Credit: Averette/Wikipedia)

Four Seasons Hotel Miami, DoubleTree near MIA lay off hundreds

Four Seasons Hotel Miami, DoubleTree near MIA lay off hundreds
5900 Northwest 176th Street (Credit: Google Maps)

Mac Papers inks deal, sells warehouse near MIA for $15M

Mac Papers inks deal, sells warehouse near MIA for $15M
2001-2005 West Cypress Creek Road, Alex D. Zylberglait

Office complex near Fort Lauderdale airport sells for $7M

Office complex near Fort Lauderdale airport sells for $7M
Sleep Inn Miami Airport, Holiday Inn Express Miami Airport Central Miami, Gabriel Shamay and David M. Greenberg (Credit: Google Maps)

Amid supply surge, 2 hotels near MIA sell for $21M

Amid supply surge, 2 hotels near MIA sell for $21M
8150 NW 64th Street and Longpoint Realty Managing and Founding Partner Dwight Angelini (Credit: Google Maps)

Longpoint Realty picks up warehouse near MIA

Longpoint Realty picks up warehouse near MIA
Brookfield Property Group’s Brian Kingston and 3400 Northwest 74th Avenue (Credit: Google Maps)

Brookfield picks up more industrial properties near MIA for $83M

Brookfield picks up more industrial properties near MIA for $83M
Daily Digest Miami

Jeffrey Soffer taps ex-Turnberry CEO to lead resi division, PMG and Greybrook big loan for co-living tower: Daily digest

Jeffrey Soffer taps ex-Turnberry CEO to lead resi division, PMG and Greybrook big loan for co-living tower: Daily digest
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...