Lincoln Property Co. and Walton Street Capital purchased a 226,392-square-foot distribution center in Weston, Fla., for $43.8 million. Commercial Edge reports the buyer assumed a $41.8 million loan and increased it to approximately $79 million through an amended and restated note originated by Nuveen. The asset previously traded in 2018, when Becknell Industrial sold it for $30.4 million.
Manova Partners was the seller. José Lobón, Trey Barry and Frank Fallon, Royce Rose, George Fallon, Gabriel Braun and Daniel Sarmiento with CBRE worked on behalf of the Manova Partners.
Lincoln Property Co. will manage the building, which was 54 percent leased at the time of its trade. Tenants include Mondelēz International and Vital Pharmaceuticals Inc.
The cross-dock industrial building, built in 1994, is at 1600 N. Park Drive.
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