Companies tied to Miami Beach investor Michael Simkins just made another big acquisition near the Miami Worldcenter project site, The Real Deal has learned.
The Simkins-managed companies paid nearly $54 million for an 82,000-square-foot warehouse on more than four acres at 1151 Northwest First Avenue and three vacant parcels totaling about one-half of an acre, according to Miami-Dade County records. The all-cash transaction was recorded on Friday.
Dallas-based Greyhound Lines sold the properties to the Simkins-managed companies.
In April, another Simkins company purchased 10 properties totaling more than one acre in Miami’s Overtown neighborhood for about $3.6 million. The site is just north of All Aboard Florida’s future downtown Miami station.
These recent acquisitions could be linked to a high-rise project Simkins and former Miami Worldcenter partner Marc Roberts reportedly want to develop in the area.