Chris Metzger, Richard F. Etner Jr., Christopher Thomson and Matthew G. McAllister Represented a Private Investor in the Disposition of the 5.15-Acre Pompano Beach Site
Executive Director Christopher Metzger, Executive Director Richard F. Etner Jr., Executive Director Christopher Thomson and Director Matthew G. McAllister negotiated the disposition on behalf of 16th Street Pompano Beach, LLC. CIVF V – FL2W01, LLC, an affiliate of Boston-based Cabot Properties, Inc., acquired the site for $2.5 million ($11.14 per square foot).
The fully fenced site is located just east of Powerline Road, providing exceptional access to Interstate 95 and Florida’s Turnpike. The land is zoned Light Industrial by Pompano Beach and platted for approximately 85,000 square feet of warehouse.
According to Cushman & Wakefield’s Q3 2017 Broward County Industrial Marketbeat Report, the Broward County Industrial market is primed for new development.
“The Pompano Beach industrial submarket is the tightest in Broward County, with direct vacancy falling below 2% at last count,” said Metzger. “Users are demanding more product and developers are eager to acquire land, break ground and push their product into the market as quickly as possible.”
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