Waste Management paid just under US$380 million for approximately 146 acres (approx. 59 hectares) of land in Medley, Florida. The Houston-based company plans to build an additional landfill on the site, according to property records. The acquired area runs parallel to Route 27 at 9515 Northwest 95th Avenue, not far from Everglades National Park.
Roughly half of the site is currently undeveloped, while the remaining portion is used as a surface car park for lorries. This newly acquired plot directly borders Waste Management's existing 170-hectare landfill complex in Medley. This strategic acquisition allows the company to significantly expand its operational presence in the Miami-Dade County region and increase waste disposal capacities.
The transaction was handled by an entity associated with the Lowell Dunn Company of Hialeah Gardens, which sold the land. The same entity provided seller financing of US$366.8 million, due in 2046. This underscores confidence in the long-term value development of the site and the stability of the business relationship.
As part of a recorded easement, the Lowell Dunn Company also agreed to allow Waste Management to install underground stormwater pipes across its adjacent property. This agreement enables surface water from the Waste Management site to drain into a canal located north of the property, thus securing the necessary infrastructure for future operations.
This acquisition is already the second major transaction by a waste management company in Miami-Dade County within the current month. Waste Connections, based in Woodlands, Texas, previously acquired a 12-acre surface car park for lorries in Miami Gardens for US$51 million. The increased activity in this sector indicates growing demand for relevant infrastructure and consolidation in the region's waste management market.
