Greg Merage Of MIG Real Estate Acquires Industrial Properties From Dwight Angelini For $69.88M

Eight acres of industrial property were sold across multiple locations totaling 275,128 square feet in Davie, Sunrise, and Fort Lauderdale. The properties were acquired by MIG Real Estate from Longpoint Ventures for $69,880,000, translating to a price per square foot of $254.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $69,880,000
• Buyer: Greg Merage - MIG Real Estate
• Seller: Dwight Angelini - Longpoint Ventures
• Financing: $69 million mortgage from Bank of America
• Market: Davie, Sunrise & Fort Lauderdale
• Asset Size: 8.3 acres

This transaction signifies the engagement of Greg Merage representing MIG Real Estate and Dwight Angelini representing Longpoint Ventures. The properties demonstrate significant value gains since their last trades in 2021-2022. Additionally, the acquisition included coverage of four additional industrial sites in Miami-Dade amidst a slight vacancy uptick and softening rents in Broward County's industrial market.