AT&T sells property site major mall to developer for $11M

Mast Capital has acquired a Miami property near the Shops at Merrick Park from AT&T Florida for $10.9 million and plans to develop a residential tower.

Camilo Miguel Jr., CEO of Mast Capital, said the 1.02-acre site at 3811 Shipping Ave. is zoned for up to 20 stories and 153 residential units. He plans to build within the current zoning and include 1,400 to 1,500 square feet of retail.

The property currently has a small telecommunications office and a parking lot for AT&T’s vehicles.