Longpoint Partners has recently acquired a large industrial portfolio in South Florida for $331.3 million. The portfolio includes 26 buildings, totaling 1.4 million square feet, spread across Miami-Dade, Broward and Palm Beach counties. This purchase comes after Longpoint’s previous acquisition of a 25-building industrial portfolio in the Miami and Fort Lauderdale areas for $260 million in December of 2023.
The properties within this portfolio are primarily light industrial facilities located in highly desirable areas with an impressive occupancy rate of 97% at the time of sale. The majority (71%) of these properties are situated in Miami-Dade County, while another significant portion (20%) can be found in Broward County and the remaining (9%) are located within Palm Beach County. These buildings were constructed between the years of 1964 to2003 and offer features such as dock and grade-level loading capabilities, an average clear heightof21 feet,and office space comprising24%ofthe total square footage.Additionally,the truck court depths range from50to200feet.
The seller was represented by CBRE’s Jose Lobon,Frank Fallon,Trey Barry,and Royce Rose during this transaction.
Strategically positioned near major transportation routes,the last-mile properties includedinthisportfolioareidealforquickandefficientdistribution.TheseacquisitionsfurtherdemonstrateLongpointPartners’commitmenttobuildinganextensiveindustrialportfoliowithinSouthFloridaandpositionthecompanyasamajorplayerinthemarketplace.ThefullarticlecanbefoundonConnectCREwebsite.
