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DS North Palm Beach Landlord LLC Acquires Retail Property On US Highway 1 In North Palm Beach For $6.9M

Property Image
SOLD
$6,900,000

Florida

See Similar Deals
Retail14,321 SF
Sold 05/05/2020
the dealdetailscomps
Property Image
SOLD

DS North Palm Beach Landlord LLC Acquires Retail Property On US Highway 1 In North Palm Beach For $6.9M

230 US-1, Fort Pierce, FL 34950, USA

See Similar Deals
Retail14,321 SF
Sold 05/05/2020
the dealdetailscomps

Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$481
Total Square Footage:14,321 SF
Transaction Type:Sale

The retail property located at 230 US Highway 1 in North Palm Beach has been sold for a price of $6,900,000. Spanning across an area of 14,321 square feet, the property was acquired by DS North Palm Beach Landlord LLC, represented by SunTrust Equity Funding. The seller in this transaction was Walgreen Co., with Stefano Pessina and Richard Ashworth as the representatives.

Summary of transation details

  • Property Type: Retail
  • Transaction Amount: $6,900,000
  • Address: 230 US Highway 1, North Palm Beach
  • Square Footage: 14,321
  • Buyer: DS North Palm Beach Landlord LLC (SunTrust Equity Funding)
  • Seller: Walgreen Co. – Stefano Pessina, Richard Ashworth

Stefano Pessina and Richard Ashworth played key roles as the representatives of Walgreen Co. in this retail property transaction. Their involvement in the deal highlights their influence and expertise in the market.

Players

SF
SunTrust Equity Funding
BUYER
WC
Walgreen Co.
SELLER
WC
Walgreen Co.
SELLER

Details

SOLD
IMAGE: Stefano Pessina & Richard Ashworth DATE: 05/05/2020 ADDRESS: 230 US Highway 1 MARKET: North Palm Beach ASSET TYPE: Retail BUYER: DS North Palm Beach Landlord LLC (SunTrust Equity Funding) SELLER: Walgreen Co. – Stefano Pessina, Richard Ashworth PRICE: $6,900,000 SF: 14,321 PPSF: $481

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$24,514.25
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