Pompano Beach Industrial Facility Trades For $659 PSF

Jadian Capital has acquired an industrial facility in Pompano Beach for $23.12 million, marking a substantial gain for the seller more than a decade after the property last changed hands.

The property, located at 1590 North Andrews Avenue, includes a 35,100-square-foot building on 7.7 acres. The deal breaks down to roughly $659 per square foot, according to transaction information reported by Traded.

The buyer was 1590 N. Andrews LLC, an affiliate of Jadian Capital, led by Jarret Cohen. The seller was Oldcastle APG South, which had purchased the property in 2012 for $3.9 million. The latest sale price represents a significant increase in value over the 14-year hold period.

The site has been used as a showroom, outdoor display area and Belgard distribution facility. Oldcastle APG South is part of Oldcastle APG, a building products company known for hardscape, masonry and outdoor living materials.

The sale comes as Pompano Beach continues to draw attention from industrial investors and users seeking well-located properties in Broward County. The city’s access to major transportation routes and its position within the broader South Florida logistics corridor have helped support demand for industrial and distribution space.

Source:  Tapinto