MIAMI—Pompano Marketplace, a 239,200 square-foot shopping center in Pompano Beach, FL, has traded hands. The sale price was $29.7 million.
Located at 1255 South Federal Highway in Pompano Beach, a joint venture between Des Moines, IA-based Principal Global Investors and Boca Raton, FL-based Woolbright Development purchased the asset. The seller originally acquired the asset in 1989.
“Pompano Marketplace's location, strong tenant lineup and below replacement cost pricing attracted a wide variety of investors,“ says Dennis Carson, senior vice president with CBRE's National Retail Investment Group. Carson and Casey Rosen, also a senior vice presidents, handled the transaction for the seller.
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