The Real Deal Miami

Michael Simkins makes $54M purchase near Worldcenter

Miami Beach investor buys warehouse, three vacant parcels in Overtown area
By Eric Kalis | September 24, 2014 09:45AM

Michael and Nicole Simkins

Michael and Nicole Simkins

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.