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**Longpoint Ventures Sells Broward County Industrial Portfolio for Nearly $70M**
Longpoint Ventures has sold a trio of industrial properties in Broward County to MIG Real Estate Industrial for a total of $69.9 million. The transaction was backed by a $69 million mortgage from Bank of America, which covers not only the three Broward assets but also four industrial properties in Miami-Dade County held by MIG.
According to reports, Longpoint sold a 124,227-square-foot warehouse park located at 5000 Oakes Road in Davie for $29.9 million. The property, comprising five warehouses built in 1980 on an 8.3-acre site, was last purchased in 2021 for $24.1 million.
In a separate transaction, MIG acquired 102,914 square feet of warehouse space at 5101 and 5201 N.W. 108th Avenue in Sunrise for $27.2 million. These assets, built in 1996 on a 7.1-acre parcel, were previously sold in 2021 for $16.5 million.
The third property included in the sale was a 47,987-square-foot warehouse complex at 3571 and 3559 N.W. 53rd Street in Fort Lauderdale. Built in 1984 on a 2.95-acre site, the property changed hands for $12.8 million, up from the $10.5 million it fetched in 2021.
This portfolio sale highlights the continuing activity and strong investor interest in South Florida’s industrial real estate market.
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