CBRE Executes Sale of Fully Leased Industrial Portfolio in Pompano Beach, Florida

CBRE has arranged the sale of a 94,106-square-foot industrial portfolio in Pompano Beach, Florida. Invesco Real Estate, a global real estate investment manager, purchased the property from a Real Estate fund managed by Ares Management.

CBRE National Partners Vice Chairmen Jose Lobón, Frank Fallon, Trey Barry, and Vice President Royce Rose represented the seller in the transaction. The team was assisted by Tom O’Loughlin, Vice Chairman with CBRE Industrial Leasing, and Gabriel Braun and Daniel Sarmiento, Financial Analysts with CBRE National Partners.

The two-building portfolio was fully leased at the time of sale. It offers nearby access to all of South Florida’s critical logistical infrastructure, including Interstate 95 and the Florida Turnpike.

Located at 2151 Blount Rd., Pompano Industrial Center I is a 25,300-square-foot building featuring 18.5-foot clearance height, rear loading, six dock-high doors, one drive-in door, and 33 car parking spaces.

Located at 1280-1300 NW 22nd St., Pompano Industrial Center II is a 68,806-square-foot building featuring 22-foot clearance height, rear loading, 11 dock-high doors, two drive-in doors, and 110 car parking spaces.

According to CBRE Research, the Pompano Beach submarket is the largest industrial submarket in Broward County with over 25.3 million square feet of total inventory and a vacancy rate of 3.53%.

About Invesco Real Estate
Invesco Real Estate is a global real estate investment management business with $86.7 billion in real estate assets under management, 614 employees and 21 regional offices across the U.S., Europe and Asia (as of December 31, 2023). Invesco Real Estate was established in 1983 and today invests across the risk return spectrum, from core to opportunistic; in equity and debt; listed and direct; locally and globally. Invesco Real Estate is a business name of Invesco Advisers, Inc., an indirect, wholly owned subsidiary of Invesco Ltd. Invesco Ltd. is an independent investment management firm dedicated to delivering an investment experience that helps people get more out of life. NYSE: IVZ; http://www.invesco.com/realestate.

About Ares Management Corporation
Ares Management Corporation (NYSE:ARES) is a leading global alternative investment manager offering clients complementary primary and secondary investment solutions across the credit, real estate, private equity and infrastructure asset classes. We seek to provide flexible capital to support businesses and create value for our stakeholders and within our communities. By collaborating across our investment groups, we aim to generate consistent and attractive investment returns throughout market cycles. As of March 31, 2024, Ares Management Corporation's global platform had approximately $428 billion of assets under management, with approximately 2,900 employees operating across North America, Europe, Asia Pacific and the Middle East. For more information, please visit www.aresmgmt.com.