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Stockbridge Capital Group Purchases 16.2 Acre Parking Lot In Coral Springs For $34.1M

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SOLD
$34,100,000

Florida

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Parking Lot
Sold 09/12/2024
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Property Image
SOLD

Stockbridge Capital Group Purchases 16.2 Acre Parking Lot In Coral Springs For $34.1M

12640 Wiles Road

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Parking Lot
Sold 09/12/2024
the dealdetailscomps

Summary

FLORIDA
Asset Type:Parking Lot
Transaction Type:Sale

A 16.2-acre tractor-trailer parking lot located at 12640 Wiles Road in Coral Springs was sold for $34.1 million, translating to $2.1 million per acre. The property was previously acquired by Foundry Commercial in 2022 for $8.75 million, which included environmental remediation efforts and the securing of a $22.93 million construction loan.

Summary of transaction details:

  • Property Type: Parking Lot
  • Transaction Amount: $34,100,000
  • Buyer: Stockbridge Capital Group
  • Seller: Paul Ellis - Foundry Commercial
  • Acres: 16.2
  • Address: 12640 Wiles Road
  • Market: Coral Springs

Paul Ellis represented Foundry Commercial in the sale of the property to Stockbridge Capital Group, marking a significant transaction in the market for parking assets.

Details

SOLD
IMAGE: Paul Ellis DATE: 09/12/2024 ADDRESS: 12640 Wiles Road MARKET: Coral Springs ASSET TYPE: Parking Lot ~ ACRES: 16.2 BUYER: Stockbridge Capital Group SELLER: Paul Ellis - Foundry Commercial (@FoundryCommercial) SALE PRICE: $34,100,000 NOTE: Foundry Commercial sold a 16.2-acre tractor-trailer parking lot in Coral Springs to Stockbridge Capital Group for $34.1 million, or $2.1 million per acre. Foundry had acquired the site in 2022 for $8.75 million, completing environmental remediation and securing a $22.93 million construction loan before the sale.

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