Longpoint picked up another batch of South Florida industrial warehouses, dropping $82 million for a Doral portfolio.
The Boston-based firm, led by Dwight Angelini, bought America’s Gateway Park, a collection of six industrial buildings spanning 302,000 square feet at 8901 Northwest 20th Street, 2011 Northwest 89th Place, 8940 Northwest 24th Terrace, 8933 Northwest 23rd Street, 1400 Northwest 89th Avenue and 1401 Northwest 89th Court, a press release states.
The deal breaks down to roughly $271 a square foot.
A CBRE team led by José Lobón and Trey Barry represented the seller, San Francisco-based Terreno Realty, led by W. Blake Baird. Records show Terreno paid $23.7 million in 2013 for America’s Gateway Park so the firm sold the portfolio for more than triple the previous sale price.
Recently renovated for $4 million, the six-building business park is 91 percent leased with 21 tenants, the release states. The warehouses were completed in 1981, according to records.
Longpoint is among the most active institutional investors wheeling and dealing in South Florida industrial properties. This month, the firm sold nine warehouses in Broward County for a combined $69.9 million to Newport Beach, California-based MIG Real Estate. The properties are in Fort Lauderdale, Davie and Sunrise.
In March, Longpoint sold a large warehouse near Miami Gardens for $43.5 million to New York-based Corebridge Real Estate Investors. Two months earlier, Longpoint paid $10.7 million for a warehouse in Miami, records show.
Angelini’s firm closed out 2024 with the largest South Florida industrial acquisition of the year. In November, the firm dropped $331.2 million for 26 properties in Miami-Dade, Broward and Palm Beach Counties. The seller was a joint venture between Blackstone and its industrial subsidiary, Link Logistics.
Longpoint also dabbles in South Florida shopping centers. Most recently, the firm paid $34 million for Miramar Parkway Plaza, a retail complex anchored by Presidente Supermarket.
