Longpoint pays $30M for six industrial buildings in Doral and near Medley
Fresh off making last year’s biggest South Florida industrial purchase, Longpoint Partners picked up six more Miami-Dade County warehouses for $30 million, The Real Deal has learned
Boston-based Longpoint purchased three facilities at 8440, 8450 and 8615 Northwest 64th Street near Medley, and three industrial buildings at 1900, 2000 and 2090 Northwest 133rd Avenue in Doral, Will Falero with Pro Industrial told TRD.
Falero represented the seller, Coral Gables-based Hopton Corporation, and procured the buyer for the deal, he said. Longpoint vice president, Alex Sanchez, also worked on the off-market purchase, Falero added.
Combined, the six warehouses span roughly 126,050 square feet, so the deal breaks down to about $238 a square foot.
In 2013, a trust paid $650,000 for the Medley site and transferred ownership to Hopton that year. In 2016, Hopton completed the three buildings, records show. The same year, Hopton paid $984,800 for the Doral property and completed the three facilities in 2017.
The six buildings are fully leased to about 20 tenants that provide manufacturing, logistics, food handling, freight forwarding and other services, Falero said. Hopton’s owner, who is retiring, was “looking to hit the eject button,” Falero said.
Longpoint, led by founding partner Dwight Angelini, paid Seagis $262 million in December for a 25-building industrial portfolio in Miami-Dade and Broward counties. The deal clocked in as the priciest industrial sale of last year. In one swoop, Longpoint acquired 1.4 million square feet of industrial space in South Florida.
The firm is among the most active national real estate investment firms in the tri-county region. In 2022, Longpoint paid $43.2 million for El Paraiso, a two-building shopping center in Hialeah. The same year, Longpoint acquired River Park Trailer Court, a shuttered mobile home park near Miami International Airport. The Boston-based company paid $16 million for the nearly 6-acre site.
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