Morgan Automotive Group Acquires Al Hendrickson Toyota In $42M Deal
5201 W Sample Rd Coconut Creek, FL 33073, USA
$42,000,000
$78/SF
Building Size
537,452 SF
Asset Type
Retail
Closing
Jun 21, 2023
About this deal
AI
The Morgan Automotive Group, led by Larry and Brett Morgan, has acquired Al Hendrickson Toyota in Coconut Creek, South Florida. The deal was facilitated by Haig Partners. The property, located at 5201 West Sample Road, is a retail asset with a total square footage of 537,452. The transaction was closed with a sale price of $42,000,000, resulting in a price per square foot of $78.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $42,000,000
- Square Footage: 537,452
- Address: 5201 West Sample Road, Coconut Creek
- Market: Coconut Creek
The acquisition of Al Hendrickson Toyota marks a significant expansion for the Morgan Automotive Group, making them the largest dealership group in Florida with a portfolio of 67 stores. This strategic move solidifies their position in the South Florida market.
NOTE: With the purchase of Al Hendrickson Toyota, Morgan Automotive Group further strengthens its presence in the South Florida automotive industry. The deal was successfully executed with the assistance of Haig Partners, a reputable brokerage firm.
Players
Miami Retail Market Snapshot
Boundary boundary · Retail · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.38%
Cash-on-Cash
-0.11%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93