Crow Holdings Acquires Retail Property In Coral Springs & Coconut Creek For $32.5M
5860 Wiles Road, Coral Springs, FL, USA
$32,500,000
$2,341/SF
Building Size
13,878 SF
Asset Type
Retail
Closing
Oct 13, 2021
About this deal
AI
Crow Holdings, represented by Michael Levy, has acquired a retail property in Coral Springs and Coconut Creek. The property is located at 5860-5884 & 5760-5772 Wiles Road & 4210-4396 & 4180-4190 North State Road 7, spanning across 11 acres. The transaction was completed on October 14, 2021, with a sale price of $32,500,000. The property offers 90,434 square feet of space, resulting in a price per square foot of $359.
Summary of transaction details
- Property Type: Retail
- Transaction Amount: $32,500,000
- Date: October 14, 2021
- Address: 5860-5884 & 5760-5772 Wiles Road & 4210-4396 & 4180-4190 North State Road 7
- Market: Coral Springs & Coconut Creek
- Acres: 11
The buyer, Crow Holdings, was represented by Michael Levy in the transaction. The seller includes Ross Realty Investments, led by Barry Ross, and SunCap Real Estate Investments, led by Flint McNaughton. This acquisition marks an important milestone for all parties involved.
Players
Coral Springs 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
0.49%
Cash-on-Cash
-0.14%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93