Longpoint Buys Yet Another Last-Mile Portfolio in Miami-Dade for $82M

Longpoint Realty Partners’ South Florida shopping spree continues. The Boston-based investor paid $82.3 million for a last-mile industrial park in Doral, Fla., according to CBRE, which brokered the transaction. 

America’s Gateway Park includes six buildings totaling 301,988 square feet between Northwest 25th Street and Northwest 87th Avenue, west of Miami International Airport in the Airport West submarket. 

The 14-acre industrial park — where buildings range from 32,990 to 64,774 square feet — is 91 percent occupied with 21 tenants. CBRE’s José Lobón, Trey Barry, Frank Fallon, Royce Rose, George Fallon, Gabriel Braun and Daniel Sarmiento represented the seller, Terreno Realty.

The San Francisco-based investor purchased America’s Gateway Park for $23.7 million in 2013, property records show. In recent years, the firm has invested $4 million in upgrades.

Longpoint has made big bets on South Florida’s industrial market since 2023, buying two 1.4 million-square-foot portfolios for $260 million and $331 million. 

Besides industrial, the private equity firm also focuses on grocery-anchored retail. Just this month, it paid $34 million for Miramar Parkway Plaza, a 159,628-square-foot property in Broward County anchored by Presidente Supermarket. 

Representatives for Longpoint did not immediately provide comment, while representatives for Terreno Realty could not be reached for comment.

Julia Echikson can be reached at jechikson@commercialobserver.com.