MIAMI—Walmart announced its first Miami store in August. But fewer know the story behind the story, which was a financial labyrinth of sorts.
To be located at 6991 SW 8 St. the Walmart Neighborhood Market site will also be home to a gas station and a TD Bank. Construction is set to begin next year with an anticipated opening in 2014. But the deal could have fallen through several times along the road to the big announcement.
The story begins when TRR Everglades Holdings acquired the $13.5 million note for the land on which the first Miami Walmart will call home for $7.1 million in July. Sergio Rok and Jimmy Tate, a duo of real estate experts and developers behind TRR Everglades Holdings, did plenty of heavy lifting to design a site plan that will house the Walmart.
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