CBRE Completes $9.1M Sale of 207,000 SF Industrial Lot in Pompano Beach, Fla.

CBRE has completed the sale of a 207,261-square-foot industrial lot located at 1750 N. Powerline Rd. in Pompano Beach, Fla. A private investor purchased the property for $9.1 million.

CBRE Executive Vice Presidents Larry Genet and Tom O’Loughlin represented the seller, New York-based Imperium Capital, in the transaction.

The fully fenced, paved, and secured property features land approved for outdoor storage as well as a 5,905-square-foot newly renovated building on-site ready for office or warehouse use. The lot is less than 1.5 miles from the Florida Turnpike and Interstate 95. 

“Imperium Capital is a very talented investor and operator of industrial outdoor storage (IOS) sites nationally. This is our second closing with them and, as always, they were fantastic to work with. Our team looks forward to closing more transactions with them in the future,” said Mr. Genet.

The team is currently marketing an 8.3-acre outside storage yard in Medley, Fla., on behalf of Imperium Capital. The property is ideal for materials, trucks, or heavy equipment.

Demand will keep up with supply in 2023, with a 13th consecutive year of positive net absorption, a near record-low vacancy rate and solid rent growth throughout the industrial market, according to CBRE’s U.S. Real Estate Market Outlook 2023.