Longpoint Partners acquired a 26-building industrial portfolio in South Florida for $331.3 million. The 1.4 million-square-foot portfolio is located across Miami-Dade, Broward and Palm Beach counties. These acquisitions follow Longpoint’s purchase of a 25-building industrial portfolio in the Miami and Fort Lauderdale MSAs for $260 million in December of 2023.
The portfolio consists of light industrial properties situated in infill locations with a combined occupancy level of 97% at the time of sale. Approximately 71% of the properties are in Miami-Dade County, 20% in Broward County, and 9% in Palm Beach County. The buildings were built between 1964 and 2003, and feature dock and grade-level loading, an average of 21-foot clear heights, 24% office space, and 50-foot to 200-foot truck court depths.
CBRE’s Jose Lobon, Frank Fallon, Trey Barry and Royce Rose represented the seller.
The portfolio’s last-mile properties are strategically located near major transportation arteries.
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