“There has never been a more exciting time in South Florida Real Estate and we are thrilled to launch Vertical Real Estate with a team that brings an innovative and community-focused approach to this industry,” said Stern.
The purchase represents the expansion of the companies’ manufacturing facility from an 18,000-square-foot location in Fort Lauderdale to more than double the space at the new site in Pompano Beach.
The property is entitled for the development of 301 residential units, 244,000 square feet of office, and just over 7,000 square feet of retail.
The new tenant leased 8,142 square feet of office space in the building.
Each location will consist of a newly built 10,000-square-foot center and up to a 5,000-square-foot outdoor playground.
Kroger expects to employ 90 associates at the new facility.
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The JLL team of Executive Managing Director Sky Groden and Vice President Jeremy Cain will spearhead the property’s leasing.
The transactions total $7,650,000.
Members of the Miami team include Senior Vice President Carlyle Coffin; Vice President of Acquisitions Mike Lisch; Head of Strategy and Analytics Jason Warren; and Business Operations Manager Teresa Sanzone.