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Longpoint acquires shopping centers in Florida and Texas for a total of $45m
Transactions - OCTOBER 3, 2024

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Longpoint acquires shopping centers in Florida and Texas for a total of $45m

by Released

Longpoint Partners announced the acquisition of two grocery-anchored shopping centers — the Plaza Mexico in Houston, and the Palm Aire Marketplace in Pompano Beach, Fla. — for a total of $45.7 million. Both centers will be managed under Longpoint’s newly unveiled Lena Centers brand.

Longpoint designed the Lena Centers brand to reflect its mission to create community shopping center experiences that serve the needs of residents living and working in each neighborhood, and the name and persona of Lena represents the care and attention Longpoint devotes to every community it serves.

The 103,907-square-foot Plaza Mexico shopping center is anchored by a high-performing El Rancho grocery store. The center has a diverse tenant base with an occupancy rate of 96 percent. The property is located near the Sam Houston Tollway.

The Palm Aire Marketplace is a 143,219-square-foot shopping center anchored by El Presidente Supermarket, and is 90 percent leased with a range

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