Woodmont Industrial Partners Acquires Palm Beach Industrial Property For $40.4M
SOLD
Florida
See Similar DealsIndustrial
Sold 01/17/2022
SOLD
Woodmont Industrial Partners Acquires Palm Beach Industrial Property For $40.4M
Palm Beach Park Of Commerce Palm Beach
See Similar DealsIndustrial
Sold 01/17/2022
Summary
FLORIDA
Asset Type:Industrial
Transaction Type:Sale
The Palm Beach Park Of Commerce, a 116.6-acre industrial property located in Palm Beach, has been sold for $40,400,000. The sale was completed on January 17, 2022. The property is part of the Palm Beach market and offers ample space for industrial activities.
Summary of transaction details
- Property Type: Industrial
- Transaction Amount: $40,400,000
- Address: Palm Beach Park Of Commerce
- Market: Palm Beach
- Acres: 116.6
The buyer for this transaction was Woodmont Industrial Partners represented by Eric Witmondt and Donald Witmondt. On the other hand, the seller was TPA Group. The involvement of Woodmont Industrial Partners showcases their interest in expanding their portfolio in the industrial sector within Palm Beach County.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$2,154,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$143,532.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$191,516.61
Annual Debt Service$2,298,199.33
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