CenterPoint Acquires 778,816 SF in Pompano Beach, FL
Posted By Staff Writers On October 22, 2018 @ 9:32 am
OAK BROOK, IL – CenterPoint Properties is pleased to announce the acquisition of a 778,816 SF distribution center located at 1141 Southwest 12th Avenue in Pompano Beach, Florida. The property is 100% leased on a long-term basis to one of the largest food wholesalers in the United States. Chris Riley, Guy Ponticiello, Christian Lee, Jose Lobon and Bruce Westwood-Booth of CBRE represented the seller in this transaction.
“This was an opportunity to acquire one of the largest buildings in South Florida at an attractive yield. This rare, infill 51 acre property is located in close proximity to I-95, the growing population base and the ports,” said PJ Charlton, Senior Vice President of Investments at CenterPoint. “We have now invested over $300 million in the South Florida industrial market within the last 24 months and have assembled a portfolio of logistics and port related assets that totals more than 2.5 million SF.”
Located on 51 acres, the facility has access to six million people in South Florida and is located within one mile of I-95, three miles of the Florida Turnpike and within fifteen miles of both Port Everglades and the Fort Lauderdale International Airport. Property features include 120,000 SF of cooler and freezer space, 60 dock high doors, 179 trailer parking positions and extra land for development in the future.
“This asset is consistent with our strategy to acquire buildings with extra parking near major ports and population centers. We look forward to continuing to grow our presence in both Miami-Dade and Broward counties,” added Evan Lippow, Vice President of Investments at CenterPoint.
About CenterPoint Properties
CenterPoint Properties is focused on the development, acquisition and management of industrial property and transportation infrastructure that enhances business and government supply chain efficiency. The Company invests in major coastal and inland port logistics markets anchoring North America’s principal freight lanes. CenterPoint‘s portfolio includes 58.9 Million SF and 2,386 acres under development in the Company’s integrated intermodal industrial parks. For more information on CenterPoint Properties, visit centerpoint.com or follow @centerpointprop on Twitter.