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1425 Watertower Road

Updated Oct 28, 2024

Archer Daniels Midland Acquires Industrial Property In Lake Park For $5.69M
SOLDIndustrial

Archer Daniels Midland Acquires Industrial Property In Lake Park For $5.69M

1425 Watertower Road

$5,690,000

$218/SF

Building Size

26,093 SF

Asset Type

Industrial

Closing

Nov 11, 2021

About this deal

AI

The industrial property located at 1425 Watertower Rd in Lake Park has been sold for a price of $5,690,000. Spanning across 26,093 square feet, the property was purchased by Archer Daniels Midland from Opici Wine. The sale price translates to a price per square foot of $218.

Summary of transaction details

  • Property Type: Industrial
  • Transaction Amount: $5,690,000
  • Address: 1425 Watertower Rd
  • Market: Lake Park
  • Buyer: Archer Daniels Midland
  • Seller: Opici Wine
  • Buyer's Representative: Scott Witkowski & Jeremy Gannon - Cohen Commercial
  • Seller's Representative: Sky Groden & Evan Christiansen - JLL
  • Square Footage: 26,093
  • Price per Square Foot: $218

Scott Witkowski and Jeremy Gannon from Cohen Commercial represented Archer Daniels Midland as the buyer's representatives in this transaction. On the other hand, Sky Groden and Evan Christiansen from JLL served as the seller's representatives. The deal signifies a successful collaboration between the involved parties, leading to the sale of the industrial property.

On the Map

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$5,690,000

$218/SF

Industrial

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Players

Sky Groden

JLL

Broker

$207.6M

vol

13 deals

Broker
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Opici WineSeller
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West Palm Beach Industrial Market Snapshot

Boundary boundary · Industrial · Sale transactions

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Deal FAQ

About $218 per square foot on a published $5.7M for 26,093 square feet (2021).

Visit Scott Witkowski to view all their deals.

Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

2.79%

Cash-on-Cash

-0.80%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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