Faropoint picked up an Opa-locka industrial portfolio for $24.6 million.
An affiliate of Hoboken, New Jersey-centered Faropoint obtained three one-story buildings spanning 142,415 sq. toes at 12900-13001 Northwest 38th Avenue, data and Vizzda show. The offer breaks down to $173 for every sq. foot.
The seller, an affiliate of Newport Beach, California-primarily based The O’Donnell Team, paid out $17 million for the portfolio final yr, documents exhibit. Completed in 1981, the 3 structures sit on 3.1 acres.
Led by CEO Adir Levitas, Faropoint is an industrial authentic estate investment agency established in 2012, according to the company’s website. Last month, Invesco Serious Estate acquired a minority stake in Faropoint, which has acquired 400 warehouses with 20 million square toes throughout the country in the last 5 decades. In October, Faropoint paid $144.5 million for an industrial portfolio in New Jersey.
This month produced the two most important industrial bargains of the calendar year in South Florida. Boston-based Longpoint Associates scooped up 25 Miami-Dade and Broward industrial buildings from Seagis for $262 million. The acquire incorporated a portfolio of warehouses in Davie, Deerfield Seashore, Fort Lauderdale and Lauderhill for $115.6 million.
In the 2nd biggest deal, Spanish billionaire Amancio Ortega’s Pontegadea bought a freezer facility in Hialeah for $113 million. In 2020, the seller — a joint enterprise involving Chicago-centered Bridge Industrial and Newark, New Jersey-dependent PGIM Actual Estate — paid $11 million for the 20-acre web page. The partnership accomplished the 312,000-sq.-foot chilly storage warehouse previous yr.
Also this thirty day period, Iowa-centered Pella Windows & Doorways obtained a 270,000-sq.-foot industrial developing in Medley for $45 million. Pella acquired the web-site as section of its acquisition of the seller, Lawson Industries, a home windows and doorways manufacturer that is headquartered at the warehouse.
In November, Rockpoint snagged an 87.8-acre industrial progress web site in Pompano Beach for $180 million. The Boston-based company designs to create and handle 1.5 million sq. feet of new warehouses.
