Levy Realty Advisors President/Broker Alan Levy negotiated the sale and purchase of a 70,000-square-foot showroom/warehouse property that includes an additional 20,000-square-foot air-conditioned mezzanine located at 2201 W. Atlantic Boulevard in Pompano Beach.
FiberBuilt Umbrellas, a long-standing 44,000-square-foot tenant at the 515,000-square-foot Lauderdale Lakes Industrial Park, which is managed and leased by Levy Realty Advisors, purchased the building from Pool & Patio Realty, Inc. for $7,100,000.
The deal closed December 23.
Pool & Patio Realty, Inc. was occupying 65,000 square feet in the building including the mezzanine space and will be vacating its space. FiberBuilt will occupy 45,000 square feet plus the 20,000-square-foot mezzanine and the remaining 25,000 square feet will be leased to another user.
2201 W. Atlantic Boulevard was originally built to the demanding specifications of owner-user Carl’s Furniture as a first-class retail showroom and warehouse. The 70-year-old South Florida-based Carl’s Furniture chain closed its 3 remaining stores in 2014 after filing Chapter 11 bankruptcy following the 2008-2009 recession. Pool & Patio Realty, LLC (P&PR) subsequently purchased the building to house a large showroom and distribution warehouse for its affiliate, Pool and Patio Depot, which intended to grow a new retail chain in Florida as an extension to the 40 stores owned in Quebec, Canada. After a number of years in the market, Pool & Patio Depot decided to restructure its Florida business, which no longer requires a distribution center.
The Pompano Beach building is located on a highly-visable and busy stretch of West Atlantic Boulevard just east of Powerline Road and just west of I-95.
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