Longpoint Buys 730,000 SF Miami Industrial Portfolio; Acquires 10 Small-Bay Assets

BOSTON — Longpoint Partners has added depth to its already strong industrial portfolio by acquiring ten small bay properties in Miami-Dade County for $195 million. The portfolio comprises 729,901 square feet on approximately 41.8 acres in established Miami industrial submarkets.

“Miami has been a core market for Longpoint for years. We have invested across South Florida, built a local team and operating platform, and developed deep relationships throughout the region,” said Dwight Angelini, Co-Founder and Managing Partner of Longpoint. “This acquisition reflects the conviction and discipline that have guided our work here: acquiring functional, well-located small-bay industrial assets with a diverse tenant base in locations where new supply is difficult to create. Our local presence and vertically integrated platform position us to execute the business plan and create durable value for our institutional investors.”

Per a news release, at acquisition, the portfolio was 90% occupied by 74 tenants, with an average tenant size of approximately 9,864 square feet. The 10 buildings average approximately 72,990 square feet and offer clear heights ranging from 17 to 25 feet, 231 loading positions, front and rear loading configurations, and a 40% floor area ratio. The characteristics provide flexible space for a broad range of industrial users and align with Longpoint’s focus on functional assets in supply-constrained infill locations. Longpoint acquired the portfolio for approximately $267 per square foot.

The transaction builds on Longpoint’s longstanding investment and operating presence in Miami and throughout South Florida. Longpoint maintains offices in Miami and Fort Lauderdale, supporting local sourcing and execution.

Dwight Angelini