Rockpoint Acquires Pompano Beach Industrial Site For $180M

Rockpoint has acquired an 87.8-acre industrial development site in Pompano Beach for $180 million,

The infill site is part of The Pomp, a 223-acre mixed-use development currently underway with The Cordish Companies and Caesars Entertainment, and Rockpoint will develop it in partnership with the two developers.

The transaction — which closed Thursday afternoon —was direct with no brokers involved, and an all-cash deal.

“Rockpoint is pleased to work with Cordish and Caesars in transforming this strategically situated multi-hundred-acre site as part of the master plan,” Tom Gilbane, managing member at Rockpoint, said in a release. “This  investment provides Rockpoint with an opportunity to deliver a unique industrial property in an important and undersupplied market.” 

When completed, The Pomp will be one of the largest mixed-use developments in South Florida, comprising more than 10 million square feet of entertainment, hospitality, retail and residential uses.

 

Source:  Commercial Observer