Landstar Development Group Acquires Development Site In Palm Beach Gardens For $69.4M
SOLD
$69,400,000
Florida
See Similar DealsDevelopment Site1,249,401 SF
Sold 06/14/2020
SOLD
Landstar Development Group Acquires Development Site In Palm Beach Gardens For $69.4M
12200 Northlake Boulevard, Palm Beach Gardens, FL, USA
See Similar DealsDevelopment Site1,249,401 SF
Sold 06/14/2020
Summary
FLORIDA
Asset Type:Development Site
Price Per Square Foot:$55
Total Square Footage:1,249,401 SF
Transaction Type:Sale
Avenir Holdings, represented by David Serviansky, has sold a development site located at 12200 Northlake Boulevard in Palm Beach Gardens. The buyer, Landstar Development Group, was represented by Rosa Schechter. The property spans an area of 445 acres and was sold for a total price of $69,400,000, resulting in a price per acre of approximately $155,955.
Summary of transaction details
- Property Type: Development Site
- Transaction Amount: $69,400,000
- Address: 12200 Northlake Boulevard
- Market: Palm Beach Gardens
- Buyer: Landstar Development Group - Rosa Schechter
- Seller: Avenir Holdings - David Serviansky
- Acres: 445
- Price per Acre: $155,955
Landstar Development Group, led by Rosa Schechter, acquired the development site from Avenir Holdings, represented by David Serviansky. The transaction involved the sale of 445 acres of land located at 12200 Northlake Boulevard in Palm Beach Gardens for a total price of $69,400,000.
Players
Details
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Similar Deals
Contact
Get in touch with the broker you want
Similar Buyers
Unlock All Profiles
Upgrade to Traded Pro for full access to every deal, profile & market insight.Unlimited deal views
Access investor profiles & contacts
Exclusive comps & market data
Go Pro
Similar Brokers
Search Address Tool
Enter any address to instantly view nearby comps, investors, brokers, lenders, and a visual map.NEW!
Stay in the Know
Subscribe for insider commercial real estate news, deal highlights, and market insights—delivered straight to your inbox.
By subscribing, you agree to our Terms of Service and Privacy Policy.
Suggestions
CRE CalculatorAnalyze deals based on income, expenses, and financing. We automatically filled the calculator with data from the deal you are viewing, fill free to modify it to see how it affects the results.
Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,701,333.33
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$246,563.55
Cash-on-Cash Return-1.27%
Monthly Debt Service$328,991.41
Annual Debt Service$3,947,896.87
Is there something missing? Send suggestions