Miami Beach developer Michael Simkins has made another purchase on Eleventh Street north of downtown, this time plunking down $53.7 million for a large warehouse complex and several nearby parcels.

Miami-Dade County records show companies tied to Simkins bought the Greyhound bus maintenance depot at 1151 NW First Ave. as well as three noncontiguous vacant lots to the east. In total, the properties sit on 4.8 acres. That amounts to a payment of $257 per square foot of land.