Fresh new off producing past year’s largest South Florida industrial buy, Longpoint Companions picked up six far more Miami-Dade County warehouses for $30 million, The Serious Offer has realized
Boston-centered Longpoint bought 3 amenities at 8440, 8450 and 8615 Northwest 64th Road in the vicinity of Medley, and a few industrial structures at 1900, 2000 and 2090 Northwest 133rd Avenue in Doral, Will Falero with Pro Industrial explained to TRD.
Falero represented the seller, Coral Gables-centered Hopton Company, and procured the purchaser for the offer, he stated. Longpoint vice president, Alex Sanchez, also labored on the off-market purchase, Falero extra.
Blended, the six warehouses span about 126,050 sq. toes, so the offer breaks down to about $238 a sq. foot.
In 2013, a believe in compensated $650,000 for the Medley web page and transferred ownership to Hopton that calendar year. In 2016, Hopton accomplished the 3 structures, records exhibit. The similar calendar year, Hopton paid out $984,800 for the Doral home and done the three facilities in 2017.
The 6 structures are absolutely leased to about 20 tenants that deliver production, logistics, foods dealing with, freight forwarding and other services, Falero mentioned. Hopton’s owner, who is retiring, was “looking to strike the eject button,” Falero mentioned.
Longpoint, led by founding spouse Dwight Angelini, paid out Seagis $262 million in December for a 25-creating industrial portfolio in Miami-Dade and Broward counties. The deal clocked in as the priciest industrial sale of past yr. In just one swoop, Longpoint obtained 1.4 million sq. feet of industrial place in South Florida.
The company is among the the most lively countrywide genuine estate expenditure firms in the tri-county region. In 2022, Longpoint paid out $43.2 million for El Paraiso, a two-building procuring middle in Hialeah. The exact same yr, Longpoint obtained River Park Trailer Court, a shuttered cellular property park in close proximity to Miami Intercontinental Airport. The Boston-dependent company compensated $16 million for the nearly 6-acre website.
