Walton Street Capital And Lincoln Property Co Acquire Former Bang Energy HQ For $43.75M

The property asset involved in this transaction is located at 1600 Northpark Drive in Weston, which encompasses 12.9 acres of industrial space. The sale price for the asset was $43,750,000, equating to a price per square foot of $193. The total square footage of the asset is 226,392 square feet.

Summary of transation details:

• Property Type: Industrial
• Transaction Amount: $43,750,000
• Buyer: Eric Mogentale & Jeffrey Quicksilver - Walton Street Capital; Clay Duvall & Diego Juncadella - Lincoln Property Co.
• Seller: Christian Goebel & Florian Winkle - Manova Partners
• Brokers: Larry Dinner & Tom O'Loughlin - CBRE
• Lender: SDF REIT Holdco
• Occupancy: 54%

This transaction was executed by WSLP Weston Industrial Owner IX, a partnership formed by Walton Street Capital and Lincoln Property Co., which acquired the former Bang Energy headquarters from an entity tied to Manova Partners. The lending for this deal was provided by SDF REIT Holdco through a mortgage of $37.19 million, facilitating the acquisition in a market showing increasing industrial rents in Broward County.