Real Estate
Home›Real Estate›Industrial & Land›Longpoint buys Miami-Dade industrial portfolio for $19…
Longpoint buys Miami-Dade industrial portfolio for $195M
The 729,901-square-foot portfolio totals 41.8 acres and was 90% occupied at acquisition, with 74 tenants across 10 buildings.
Longpoint Partners has acquired a 10-building industrial portfolio in Miami-Dade County for $195 million, according to ConnectCRE.
The asset spans 729,901 square feet on about 41.8 acres in established Miami industrial submarkets. At the time of purchase, the portfolio was 90% occupied by 74 tenants, with an average tenant size of roughly 9,864 square feet.
ConnectCRE said the buildings average about 72,990 square feet each and offer clear heights ranging from 17 to 25 feet, along with 231 loading positions and both front and rear loading configurations. The portfolio also has a 40% floor area ratio, and Longpoint paid about $267 per square foot.
The seller name was not disclosed, and ConnectCRE said Longpoint believes Miami’s population growth and proximity to major consumer markets, along with transportation infrastructure, support demand for well-located industrial space.