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Longpoint Realty Picks Up Warehouse Near MIA

8150 Northwest 64th Street

Longpoint Realty Partners bought a warehouse near Miami International Airport for $6.3 million, as the private equity firm continues to target commercial properties in South Florida.

The Boston-based company purchased the 54,488 square-foot warehouse at 8150 Northwest 64th Street for $115 per square foot, records show. Interglass Holding Company sold the property.

Tenants at the warehouse include Eastgate Tobacco Company.

The property last traded for $4.6 million in 2016, according to records. It was built in 1984 and sits on a 1.84 acre lot.

Longpoint Realty Partners has been expanding its holdings in South Florida. In July, the firm bought an industrial park in Miami Gardens from ProLogis for $25 million. In April, the company paid $37.53 million for a Sedano’s-anchored shopping center in Pembroke Pines.

The firm also paid $21.2 million for a strip mall within the Crossroads Square Shopping Center in Pembroke Pines in November 2018.

Last June, Longpoint bought a Publix-anchored shopping center in Boynton Beach for $9.9 million. And in late 2017, Longpoint paid $5.8 million for a warehouse in Doral.

The firm focuses on industrial and retail properties in major markets including Texas, Tennessee and Georgia, according to its website.


Source:  The Real Deal