Longpoint Realty Partners added to its South Florida portfolio, paying $11.65 million for a shopping center anchored by Fresco Y Mas in Naranja.
Longpoint bought the 98,471-square-foot retail center at 27359 South Dixie Highway for $118 per square foot, records show. Naranja Lakes Joint Venture, led by Antonio Fraga, sold the property.
The entire shopping center totals 6.7 acres. Other tenants include Family Dollar and T-Mobile.
The property last sold for $6.1 million in 1991, records show. The retail center was built in 1984. It is just off of U.S. 1 and north of Homestead.
Boston-based Longpoint Realty Partners has been expanding its holdings in South Florida. In July 2019, the firm bought an industrial park in Miami Gardens from ProLogis for $25 million. In April 2019, the company paid $37.53 million for a Sedano’s-anchored shopping center in Pembroke Pines.
The firm also paid $21.2 million for a strip mall within the Crossroads Square Shopping Center in Pembroke Pines in November 2018.
Longpoint Realty Partners focuses on industrial and retail properties in major markets including Texas, Tennessee and Georgia, according to its website.