Longpoint pays $39M for leased Medley warehouses

Longpoint Partners, a Boston-based private equity firm, has paid $38.8 million for three fully leased warehouses in Medley, extending its run of small-bay industrial buys in Miami-Dade County. The 121,579-square-foot portfolio traded at roughly $319 per square foot and sits on 5.2 acres. The seller, Martha and Ruben Artiles, had owned the properties since the 1980s and 1990s.

Why it matters. Infill industrial in Miami-Dade remains one of the tightest logistics submarkets in the country, and long-held family assets rarely come to market. Paying north of $300 a foot for stabilized, multi-tenant space reflects investors’ confidence that rents in close-in South Florida will keep climbing as land for new warehouses runs short. Fully leased small-bay product also spreads risk across many tenants, insulating owners from a single vacancy.

The numbers. The portfolio spans two warehouses totaling 94,500 square feet at 7200 Northwest 84th Avenue and a 27,079-square-foot building at 8251 Northwest 70th Street, all in Medley. The buildings are leased to about a dozen tenants, giving Longpoint diversified in-place income from the day it closed.

What’s next. The purchase adds to Longpoint’s growing South Florida logistics footprint, a strategy built on aggregating infill assets that would be nearly impossible to replicate through new construction. As institutional capital keeps chasing scarce Miami-Dade industrial, expect more decades-held family holdings to change hands — and cap rates to stay compressed for well-located, fully leased space.