Native Realty Brokers Commercial Property Sale In Pompano Beach

Native Realty, the Jaime Sturgis-led commercial real estate firm, brokered the $3.42 million sale of a fully leased retail property in Pompano Beach. Dan Ross, Native’s Executive Director, represented the buyer in the transaction, which continues the firm’s strong year closing impressive investment sales deals in a challenging broader landscape.

The 15,372-square-foot building at 2601-2611 E. Atlantic Blvd. is anchored by Café Maxx, a Pompano Beach favorite for over 40 years. It is fully leased with long-term tenants. T R Associates Inc. sold the building to 2601 Atlantic Center LLC.

At $223 per square foot, the purchase price was appealing for the buyer to acquire an income-producing asset in East Pompano Beach. There is also future upside for the buyer to capitalize on, as the area is seeing a development boom highlighted by ultra-luxury residential projects with prominent brands – most notably Ritz-Carlton and Waldorf Astoria.

“Our client sought to acquire well-located commercial real estate with stable income,” Sturgis said. “Dan not only accomplished that, but he identified a property that can deliver significant value appreciation as Pompano Beach continues to grow. That is another example of the Native difference in a competitive, supply constrained South Florida market.”