Longpoint acquires 370,784sf of industrial properties in greater Phoenix for $74m

Longpoint Partners announced that it has separately acquired both Midway Commerce Center, a 301,994-square-foot, class A three-building light industrial portfolio in Chandler, Ariz., and a single 68,790-square-foot industrial building located in Gilbert, Ariz., for a total of $74 million. These acquisitions represent Longpoint’s first entrance into the greater Phoenix market.

“We are proud to have executed our initial investments in the greater Phoenix area,” said Dwight Angelini, cofounder and managing partner at Longpoint. “These well-located properties offer a significant value-added opportunity in a key supply-constrained and high-barrier logistics market. We believe that both assets will yield accretive value for our investors, and we look forward to the further expansion of our portfolio in this region.”

Midway Commerce Center is a newly built shallow-bay portfolio in Chandler that features 32-foot clear heights, secured truck courts, rear dock-high and