{"id":1004693488,"date":"2023-12-08T02:41:43","date_gmt":"2023-12-08T10:41:43","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004693488"},"modified":"2023-12-21T10:23:04","modified_gmt":"2023-12-21T18:23:04","slug":"longpoint-acquires-1-4-msf-florida-portfolio","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/longpoint-acquires-1-4-msf-florida-portfolio\/","title":{"rendered":"Longpoint Acquires 1.4 MSF Florida Portfolio"},"content":{"rendered":"
\"2100-2190

Assets in the portfolio include buildings in Davie (pictured), Deerfield Beach and Lauderhill. Image courtesy of CBRE<\/em><\/p><\/div>\n

Longpoint Partners <\/strong>has purchased a 25-building industrial portfolio totaling roughly 1.4 million square feet. Seagis Property Group <\/strong>sold the properties, located across Miami and Broward counties in South Florida. At the time of the transaction, the portfolio was 97 percent leased.<\/p>\n

Included in the deal are properties located at 400 Goolsby in Deerfield Beach, 2100-2190 SW 71st Terrace in Davie, and 3685 15th St. in Lauderhill, among many others.<\/p>\n

The deal marks Florida\u2019s largest industrial sale of the year so far, according to CBRE<\/strong>, and also the second-largest commercial real estate sale in the state in 2023.<\/p>\n

CBRE National Partners\u2019 <\/strong>Jose Lob\u00f3n, Frank Fallon, Trey Barry and Chris Riley represented Seagis Property Group. CBRE’s Tom O\u2019Loughlin, Devin White, Royce Rose and Alain Bonvecchio assisted the team.<\/p>\n

Brian Linnihan, Mike Ryan, Richard Henry and JP Cordeiro with CBRE Capital Markets\u2019 Debt and Structured Finance in Atlanta represented the borrower and buyer in the deal.<\/p>\n

Longpoint recently closed its third institutional fund, which was oversubscribed at some $940 million of commitments<\/a>. The fund is geared toward small- to medium-sized, underutilized industrial assets across the nation.<\/p>\n

An industrial portfolio in South Florida<\/h2>\n

Completed in 1985, 400 Goolsby is an 86,400-square-foot facility, CommercialEdge data shows. Before selling it to Longpoint as part of the 1.4 million-square-foot portfolio, Seagis Property Group had purchased it in 2008 for $8.1 million. Tenants include Doormark and Brunswick Door.<\/p>\n

Seagis Property Group acquired 2100 SW 71st Terrace in 2007. Completed in 1985 and totaling 96,175 square feet, the facility features 24-foot clear heights, a truck court and 168 parking spaces. Tenants at 2100 SW 71st Terrace include US Imaging Solutions, NOVA, Visual Edge IT and Bommarito Performance Systems.<\/p>\n

Totaling 53,298 square feet, 3685 15th St. came online in 1987. Tenants include Sunlite, Dennis Shipping, All County Produce and BungoBox, among others.<\/p>\n","protected":false},"excerpt":{"rendered":"

This deal marks one of the state’s largest real estate transactions of the year.<\/p>\n","protected":false},"author":3006,"featured_media":1004693493,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,1492,21742,32781],"tags":[32789,51923,33402],"class_list":["post-1004693488","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-miami","category-latest","category-southeast","tag-cbre","tag-longpoint","tag-seagis-property-group"],"acf":[],"yoast_head":"\nLongpoint Acquires 1.4 MSF Florida Portfolio - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Totaling more than 1.4 million square feet, the purchase marks the largest industrial transaction in the state year-to-date.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/longpoint-acquires-1-4-msf-florida-portfolio\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Longpoint Acquires 1.4 MSF Florida Portfolio\" \/>\n<meta property=\"og:description\" content=\"Totaling more than 1.4 million square feet, the purchase marks the largest industrial transaction in the state year-to-date.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/longpoint-acquires-1-4-msf-florida-portfolio\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-08T10:41:43+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-21T18:23:04+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/2100-2190-SW-71st-Terrace-Davie-FL.png\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Jordana Rothberg\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/longpoint-acquires-1-4-msf-florida-portfolio\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/longpoint-acquires-1-4-msf-florida-portfolio\/\",\"name\":\"Longpoint Acquires 1.4 MSF Florida Portfolio - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/longpoint-acquires-1-4-msf-florida-portfolio\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/longpoint-acquires-1-4-msf-florida-portfolio\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/2100-2190-SW-71st-Terrace-Davie-FL.png\",\"datePublished\":\"2023-12-08T10:41:43+00:00\",\"dateModified\":\"2023-12-21T18:23:04+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/366883c93fc1efde412301ab6a4570f9\"},\"description\":\"Totaling more than 1.4 million square feet, the purchase marks the largest industrial transaction in the state year-to-date.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/longpoint-acquires-1-4-msf-florida-portfolio\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/longpoint-acquires-1-4-msf-florida-portfolio\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/longpoint-acquires-1-4-msf-florida-portfolio\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/2100-2190-SW-71st-Terrace-Davie-FL.png\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/12\/2100-2190-SW-71st-Terrace-Davie-FL.png\",\"width\":800,\"height\":620,\"caption\":\"Assets acquired in the portfolio include 2100-2190 SW 71st Terrace in Davie, Fla. 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