Longpoint Pays $32 Million For Doral Warehouse Complex In Off-Market Deal
Longpoint’s purchase represents a value-add investment opportunity, as the firm looks to strengthen its foothold in Miami-Dade’s competitive industrial market.
Longpoint’s purchase represents a value-add investment opportunity, as the firm looks to strengthen its foothold in Miami-Dade’s competitive industrial market.
The strategically located site sits adjacent to Miami Executive Airport, just three miles from the Florida Turnpike in the heart of Miami-Dade County’s thriving industrial corridor.
Residents will benefit from the unprecedented step of securing annual rental rates for 10 years.
The property, located at 7301 and 7301A W. Palmetto Park Road, spans 101,546 square feet across two boutique medical office buildings.
A previously announced ten-year lease for 82,000 square feet with an aircraft engine maintenance, repair and overhaul provider has been expanded to 92,000 square feet, and a new tenant has signed a lease for 72,000 square feet.
Since launching in 2023, Stream Florida has grown from just six team members to more than 45 professionals across Miami, Tampa, and Orlando.
The Art Deco retail property spans 35,240-square feet and is currently 98% leased to a premier tenant roster, including H&M, which anchors the property.
Orion acquired the property in 2015 for $27.8 million.
Plans call for 75,080 square feet across two buildings.
Marcus & Millichap’s Drew Kristol and Kirk Olson represented the seller, a local South Florida investor, in the transaction.
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