Longpoint dropped $34 million for a grocery-anchored shopping center in Miramar.
An affiliate of Boston-based Longpoint, led by Dwight Angelini, acquired Miramar Parkway Plaza, a 167,840-square-foot retail complex anchored by Presidente Supermarket, at 3176 South University Drive, records and real estate database Vizzda show. The deal breaks down to $202 a square foot.
The seller, a partnership between Aventura-based The Faith Group and Jeffrey Perlow, paid $14.6 million for the 14.5-acre site in 2014, records show. Miramar Parkway Plaza consists of four one-story buildings and a two-story building completed in 1973, 1986, 2003 and 2024.
In addition to Presidente Supermarket, other tenants include Hollywood Beauty Supply, McDonald’s, MD Now Urgent Care and Pure Life Renal Dialysis Facility. Miramar Parkway Plaza currently has 9,543 square feet of vacant space with leasing rates between $33 and $40 a square foot, an online listing shows.
Recently, Longpoint has been wheeling and dealing in South Florida’s industrial market. This month, the firm sold a Broward County warehouse portfolio for $69.9 million to Newport Beach, California-based MIG Real Estate. The deal involved nine buildings across Davie, Fort Lauderdale and Sunrise.
In Miami-Dade County, Longpoint sold a warehouse for $43.5 million in March to New York-based Corebridge Real Estate Investors. And in November, Longpoint dropped $331.2 million for an industrial portfolio of 26 properties in Miami-Dade, Broward and Palm Beach counties.
Prior to Miramar Parkway Plaza, Longpoint acquired a grocery-anchored shopping center in South Florida last year when the firm paid $33.1 million for Palm Aire Marketplace in Pompano Beach. The 143,219-square-foot shopping center is also anchored by Presidente Supermarket, as well as a dd’s Discount store.
Longpoint’s South Florida retail portfolio also includes Trail Plaza, a shopping center anchored by a Fresco y Mas supermarket in West Miami. In 2023, Longpoint paid $49.3 million for Trail Plaza.
