Sales  ·  Industrial

Longpoint Pays $47M for Fort Lauderdale Warehouse

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Boston-based Longpoint bought an industrial complex in Fort Lauderdale, Fla., for $47.1 million, more than doubling the property’s last sale price 16 years ago. 

Called the Parkway Commerce Center, the two-building property totals 119,285 square feet at 1919 NW 19th Street, just east of Interstate 95. A 8,303-square-foot portion of the complex is available for leasing with the asking rent at $17 a square foot.

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Seagis Property Group had purchased the property, which was completed in 1980, back in 2007 for $19.8 million, per records. Representatives for both firms did not immediately respond to a request for comment.

The South Florida industrial market remains active. Last month, Rockpoint acquired an 88-acre industrial development site for $180 million in nearby Pompano Beach, where a 223-acre mixed-use development is currently under construction.

Just this week in Miami-Dade County, Iowa-based Pella bought a 268,232-square-foot window and door manufacturing facility for $45 million.

Julia Echikson can be reached at jechikson@commercialobserver.com