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Pompano Beach Retail Center Owner Takes 40% Hit – Connect CRE

by | Mar 11, 2024 | 0 comments

Stiles Corp. bought The Shopper’s Haven retail center in Pompano Beach for $27.5 million, $22 million less than the owner paid for it. The S. Florida Business Journal reports Partridge Equity Group bought the 215,000-square-foot property in 2016 for $50 million. First Horizon Bank secured a $36.3 million mortgage for Stiles.

A new Publix may go up on the property. The current anchor tenant building is vacant. The company signed a lease in 2022 for just over 50,000 square feet. The current tenant list includes Party City, Dunkin’ Donuts, Outback Steakhouse, Michaels, YouFit, Bealls, and Walgreens.

Shopper’s Haven was built on the 22.1-acre site in 1964.  From 2010 to 2020, Pompano Beach’s population grew by 11.5 percent, hitting 111,348 total residents as of July 2021. In December of last year and after years of planning, Fortune International Group and Oak Capital unveiled The Ritz-Carlton Residences, Pompano Beach. 

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