Fully Occupied South Florida Warehouse Trades

CBRE has arranged the sale of Pompano Distribution Center II, a Class A 128,342-square-foot warehouse located at 4000 North Dixie Highway in Pompano Beach.

New York-based Sterling Investors purchased the property for $24.25 million from seller Zurich Alternative Asset Management in a transaction that closed August 11.

CBRE’s Jose Lobón, Trey Barry, and Frank Fallon represented New York-based Zurich Alternative Asset Management in the transaction. The CBRE National Partners sales team was assisted by CBRE’s Royce Rose, Alain Bonvecchio, and Tom O’Loughlin.

Pompano Distribution Center II is fully occupied by DVC Industries, a leading manufacturer and distributer of high-quality spices. The building features 32-foot clear span heights, 28 dock doors, one drive-in door, ESFR sprinklers, and 587 linear feet of frontage along Dixie Highway. It offers nearby access to three major highways: Interstate 95, US-1, and the Florida Turnpike.

According to CBRE Research, the direct vacancy for industrial properties in Broward County sits at 2.6%, down 10 basis points from the previous quarter of 2.7%, and down 30 basis points from 2.9% one year ago.

Zurich Alternative Asset Management was represented by Sean Bannon, Managing Director and Head of US Real Estate, Gala Liana, Director of Asset Management, and Chris Edgar, Executive Director of Acquisitions.