Developer Ernesto Cambo Years Ahead Of Schedule As He Aims To Revitalize Industrial Area Near Opalocka Airport
Written by Miami Today on December 9, 2010
Developer Ernesto Cambo is taking off on the next phase of the mixed-use AVE Aviation & Commerce Center at Opa-locka Executive Airport, a project that is helping revitalize this industrial area.
This is after Mr. Cambo, principal of CPF Investment Group, landed a 20-year lease with Banyan Air Service to occupy a soon-to-be-built 135,000-square-foot building.
The Banyan facility, which is to begin construction within the first quarter, is to provide aviation services, including fueling, hangar space, aircraft sales and maintenance.
The company joins tenants such as the US Postal Service, which occupies a 500,000-square-foot building on the property.
Construction of the aviation and commerce center began in 2007, with three phases completed out of 17 planned. Mr. Cambo has 10 to 15 years to develop the project under the long-term lease his company has with the Miami-Dade County Aviation Department.
"With the post office, we’ve accelerated our timeline, absorbed 45% of the project," he said. "We’re about three or four years ahead of schedule, considering that we broke ground in 2007 and delivered our first building in the first quarter of 2009."
With the existing tenants and those headed to the commerce center, Mr. Cambo said he’s now focused on ushering in eateries and services, such as a café, bank branch and gas station.
Mr. Cambo shared project plans with Miami Today reporter Yudislaidy Fernandez at the property in Opa-locka.