Kenneth E. Aboussie, Jr. & John A. Kiltz Of Stonelake Capital Partners Acquire Industrial Asset For $38M

The property involved in this transaction is a 142,670-square-foot industrial facility located at 12421 Northwest 39th Street in Coral Springs. It sits on 9.1 acres and was sold for $38 million, which equates to $266 per square foot. The asset is characterized as an industrial property that previously served as a distribution center for windows and doors supplied to regions including the Caribbean, Central America, and South America.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $38,000,000
• Address: 12421 Northwest 39th Street
• Market: Coral Springs
• Square Footage: 142,670
• Price per Square Foot: $266
• Acres: 9.1
• Buyer: Kenneth E. Aboussie, Jr. & John A. Kiltz - Stonelake Capital Partners
• Seller: Bill Christensen - Jeld-Wen

In this transaction, Kenneth E. Aboussie, Jr. and John A. Kiltz represented Stonelake Capital Partners as buyers, acquiring the property from Bill Christensen, who represented Jeld-Wen as the seller. Notably, Jeld-Wen has entered into a leaseback agreement for the facility, which follows their announcement of a reduction of 850 jobs in North America due to declining sales.