S and S R.E. Investments, Inc. purchased the Pompano Plaza in Pompano Beach for $4.5 million. The 61,658-square-foot, two-story multi-tenant retail and office center is located at 1602 S. Cypress Road. At closing, the property was 75 percent leased with a mix of local retail, office and service tenants. The seller, R-Pompano Plaza, LLC, was represented by CBRE.
“Pompano Plaza has consistently maintained high occupancy levels, as it is positioned well to serve a variety of needs for the surrounding middle to upper-middle income households,” said David Donnellan of CBRE. “Most of the current vacancy exists on the second-floor office component, where a long-term governmental agency tenant recently vacated a large space. The buyer was attracted to the excellent demographics of the trade area, as well as very attractive per square foot pricing of $73 PSF.”
