Pompano Warehouse Sells for Premium $222 Per SF

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POMPANO BEACH, FL-Old Dominion Freight Line Inc. of Thomasville, NC has acquired a 13,459-sf building from competitor Roadway Express Inc. of Akron, OH for $3 million, according to Broward County real estate recordings and Integra Realty Resources. The price equates to $222.90 per sf based on the building’s net rentable area or $14.32 per sf based on the 209,502 sf of the building’s total land area.

Area construction sources tell GlobeSt.com the price is considered a premium based on the average hard construction cost today of about $50 to $65 per sf for a comparable structure. The Broward County tax assessor’s office values the property at $1.84 million or $137.25 per sf based on the building area. Jerry C. Bowlin, vice president, Roadway Express, negotiated for his company. David S. Congdon, president, Old Dominion Freight Line, represented his firm.