The Real Deal Miami

Property across from Midtown Walmart sells for $6.5M

Parcels last sold for a combined $798K between 2001 and 2008

March 31, 2016 12:45PM
By Katherine Kallergis

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2994 North Miami Avenue

2994 North Miami Avenue

A warehouse across from the Shops at Midtown sold for $6.5 million, records show.

The 25,300-square-foot property at 2994 North Miami Avenue is split into three parcels that include a 7,554-square-foot warehouse. The seller, 2994 North Miami Avenue Inc., sold the lots to 2994 NMA Gateway Properties LLC, an entity controlled by Aron Rosenberg of New York, marking his second foray into the neighborhood during the past year.

The seller is controlled by Kevin and Paul Peters of Miami. Property records show it paid a combined $797,500 for the parcels between 2001 and 2008.

Ship repair service Subsea Global Solutions, the previous owner, occupies the building. Together with a neighboring property, the parcels were listed for sale in October for $22.5 million. Marcus & Millichap agents Scott Sandelin and Jonathan de la Rosa were the listing agents.

The properties are across the street from Walmart’s development site. The retail giant is building a 203,000-square-foot store on the 4.6-acre site at 3055 North Miami Avenue. Walmart paid $8.2 million for the property in 2014.

In April 2015, Rosenberg bought a retail building in Wynwood at 2830 North Miami Avenue.