Colliers Lists Pompano Waterfront Hotel Development Site

Colliers International South Florida was recently awarded a new listing of two waterfront parcels in Pompano Beach totaling 2.8 acres with preliminary approval for up to a 150-room hotel, 10 stories tall. The site will also accommodate development of a signature waterfront restaurant as part of the hotel project.
The property, located at 2507 North Ocean Boulevard, is listed for sale by listing agents Richard Lillis, Executive Vice President, Clinton Casey, Senior Commercial Associate and Kent Schwarz, Executive Vice President, on behalf of the receiver.
“The project’s enviable location on the Intracoastal Waterway, the riparian rights, the proximity to the Hillsboro Inlet and the beautiful beaches of Pompano create a very compelling message that will attract a broad spectrum of buyers,” says Lillis. There is significant leisure and group demand for hotels in the area, especially since there are no Hilton, Hyatt or Starwood branded hotels currently in Pompano Beach.
The Greater Fort Lauderdale hotel market has experienced enviable revenue per available room growth of approximately 7% per year over the last few years.  Colliers International’s sister company, PKF Hospitality Research, forecasts continued growth for the foreseeable future through 2017.
“We believe that a hotel at this site will attract leisure travelers, boaters and diners seeking a unique and convenient waterfront setting,” adds Lillis.
The hotel development site, which also has an operating 25-slip Marina, has unobstructed Intracoastal Waterway views to the north and third-floor views of the Hillsboro Inlet and the Atlantic Ocean to the south.