### Lincoln Property Co. and Walton Street Capital Acquire Weston Distribution Center for $43.8M
Lincoln Property Co. and Walton Street Capital have purchased a 226,392-square-foot distribution center in Weston, Florida, for $43.8 million. According to Commercial Edge, the buyers assumed a $41.8 million loan and increased it to approximately $79 million through an amended and restated note originated by Nuveen. The property was last sold in 2018 when Becknell Industrial traded it for $30.4 million.
The seller in this transaction was Manova Partners. CBRE’s team—consisting of José Lobón, Trey Barry, Frank Fallon, Royce Rose, George Fallon, Gabriel Braun, and Daniel Sarmiento—represented Manova Partners in the deal.
Lincoln Property Co. will oversee management of the building, which was 54 percent leased at the time of sale. Current tenants include Mondelēz International and Vital Pharmaceuticals Inc.
Built in 1994, the cross-dock industrial facility is located at 1600 N. Park Drive in Weston.
