Longpoint Partners announced that it has acquired a 26-building industrial portfolio in South Florida for $331.3 million. The 1.4 million-square-foot portfolio is located across Miami-Dade, Broward and Palm Beach Counties.
The portfolio consists of light industrial properties situated in strategic infill locations with a combined occupancy level of 97 percent at the time of sale. Approximately 71 percent of the properties are in Miami-Dade County, 20 percent in Broward County and 9 percent in Palm Beach County. The buildings were built between 1964 and 2003, and feature dock and grade-level loading, an average of 21-foot clear heights, 24 percent office space, and 50-foot to 200-foot truck court depths.
CBRE National Partners represented the seller in the transaction. The team was assisted by CBRE Industrial Leasing and CBRE National Partners.
The portfolio’s last-mile properties are located near major transportation arteries. The properties will benefit from
