Longpoint Partners Pays $195M for Miami-Dade Industrial Portfolio

Longpoint Partners has bought a 10-building small-bay industrial portfolio in Miami-Dade County for $195 million, according to The Real Deal and Weekly Real Estate News. The Boston-based real estate private equity firm’s seller was not disclosed, and neither was the deal date beyond this week’s reporting.

Why it matters

The portfolio spans roughly 730,000 square feet on about 42 acres, or an average of 73,000 square feet per building, the kind of small-bay footprint that leasing brokers say is nearly impossible to replicate under current land and construction costs in Miami-Dade. That scarcity is the thesis behind the price. Longpoint’s own executive, Dwight Angelini, framed the buy as consistent with the firm’s broader Miami strategy, saying it “reflects the conviction and discipline” guiding where the firm deploys capital. For developers and site-selectors weighing whether to build small-bay product from the ground up versus buying existing stock, an institutional buyer paying this basis on leased assets is a real data point on where the market has settled.

The numbers

At $195 million for 729,901 square feet, the deal works out to about $267 per square foot, a figure we calculated from the two reported inputs rather than one either outlet published directly. The portfolio was about 90 percent leased across 74 tenants averaging close to 10,000 square feet each, spreading rollover risk across a large, granular tenant base rather than a handful of anchor leases. Buildings offer clear heights of 17 to 25 feet and 231 loading positions with front and rear loading, specifications that fit modern last-mile and trade distribution use. Neither source disclosed specific addresses, submarkets, or the identity of the seller, and a Longpoint spokesperson declined to provide further detail.

What’s next

Longpoint has been an active buyer of South Florida industrial assets over the past several years, and this deal adds to that track record rather than starting it. For Miami developers and owners of small-bay product, the $267-per-square-foot basis on a leased, granular portfolio is now a live comp to test underwriting against, whether the plan is to buy, hold, or build new supply into the same scarcity that drove this price.