CBRE, a leading commercial real estate firm, has successfully facilitated the sale of a 25-building industrial portfolio in South Florida. The portfolio spans across Miami-Dade and Broward Counties and comprises of 1,393,972 sq. ft. Longpoint Partners, a reputable real estate private equity firm based in Boston, acquired the property from Seagis Property Group located in Pennsylvania.
The transaction was handled by CBRE’s National Partners team led by Jose Lobon who represented the seller with expertise and professionalism.
According to CBRE’s statement on this deal being one of Florida’s largest industrial sales this year as well as second-largest for commercial properties overall.
Lobón stated that the buyer was drawn to this particular portfolio due to its rare critical mass within one of the strongest industrial markets in America – South Florida.
At the time of sale completion,the entire portfolio had an impressive occupancy rate with 97% leased out among its diverse pool consistingof77 tenants.
In recent news,CBRE has successfully orchestratedthe purchaseofa massiveindustrialportfolioinSouthFlorida.Thisacquisitionencompasses25buildingsandcoversanareaof1millionplus square feet.Thebuyerbehindthisdeal isLongpointPartners,a renownedrealestateprivateequityfirmheadquarteredinBoston.TheyhavepurchasedthepropertyfromSeagisPropertyGroupbasedoutofPennsylvania.CBRENationalsPartnersteamledbyJoseLobonrepresentedthesellerwithutmostexpertiseandprofessionalism.AccordingtoCBR,E,thisisthebiggestsaleforanindustrialpropertyaswellasthesecondlargestcommercialpropertiesdealthathappenedinthestateoftexasduringtheyear.”Therarecriticalmassofferedbythisportfoliointhecountry’sstrongestmarketwaswhatdrewthebuyertowardsit,”saidLobon.Thewholeportfoliowasoccupiedatthetimeofsaledeliverywithanimpressiveoccupancyrateof97%andcomprisedof77tenants.
