Elion Partners (Elion) has acquired Griffin Pointe Business Park, a 180,000-square-foot Class A last-mile industrial asset located at 2281 Griffin Road in Fort Lauderdale, FL for $31.5 million.
Elion said the transaction is a part of a series of acquisitions the firm has planned for its last-mile portfolio aggregation strategy across key logistics markets, including Broward and Miami-Dade County.
“The building’s characteristics together with the supply-constrained nature of the airport submarket make the asset ideal for last-mile real estate,” said Michael Stellino, Senior Managing Director at Elion. “We are confident the addition of this Class A building and location will complement our portfolio well.”
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The firm plans to continue to pursue an investment strategy focused on first, middle, and last-mile industrial / logistics real estate, targeting core, urban logistics hubs near large population centers in infill coastal markets.
During the second half of 2020, Elion acquired seven additional last-mile industrial distribution assets in key logistics markets such as Seattle, San Francisco, Southern California, New Jersey, and South Florida.
The firm also sold a portfolio of 12 last-mile distribution assets this summer. The portfolio represented 700,000 square feet across South Florida and was the market’s largest industrial sale of 2020