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Black Creek Group Acquires Industrial Asset In Weston For $32.4M

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SOLD
$32,400,000

Florida

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Industrial225,335 SF
Sold 12/12/2019
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SOLD

Black Creek Group Acquires Industrial Asset In Weston For $32.4M

2965 W Corporate Lakes Blvd, Weston, FL, USA

See Similar Deals
Industrial225,335 SF
Sold 12/12/2019
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Summary

FLORIDA
Asset Type:Industrial
Price Per Square Foot:$143
Total Square Footage:225,335 SF
Transaction Type:Sale

In a recent transaction in Weston, a property located at 2965 W. Corporate Lakes Blvd was sold for a total price of $32,400,000. The property is an industrial asset with a total area of 225,335 square feet, resulting in a price per square foot of $143. The seller of the property was Teachers Insurance Annuity Association, while the buyer was Black Creek Group represented by Raj Dhanda.

Summary of transaction details:

  • Property Type: Industrial
  • Transaction Amount: $32,400,000
  • Property Address: 2965 W. Corporate Lakes Blvd, Weston
  • Market: Weston
  • Buyer: Black Creek Group - Raj Dhanda
  • Seller: Teachers Insurance Annuity Association
  • Size: 225,335 square feet
  • Price per Square Foot: $143

This transaction involved key individuals and companies such as Black Creek Group and Raj Dhanda, who represented the buyer. The seller, Teachers Insurance Annuity Association, successfully closed the deal for the industrial property located at 2965 W. Corporate Lakes Blvd in Weston.

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RD
3 deals$207.5M volume
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SELLER

Details

SOLD
IMAGE: Raj Dhanda DATE: 12/12/2019 ADDRESS: 2965 W. Corporate Lakes Blvd MARKET: Weston ASSET TYPE: Industrial SELLER: Teachers Insurance Annuity Association BUYER: Black Creek Group - Raj Dhanda PRICE: $32,400,000 SF: 225,335 ~ PPSF: $143

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,728,000.00

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$115,110.36
Cash-on-Cash Return-1.27%
Monthly Debt Service$153,592.53
Annual Debt Service$1,843,110.36