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Foundry Commercial And Crow Holdings Acquire 10.2 Acre Development Site In Pompano Beach For $23.1M

Property Image
SOLD
$23,100,000
Michael Levy
PE

Florida

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Development Site
Sold 06/25/2025
the dealplayerscompscontact
Property Image
SOLD

Foundry Commercial And Crow Holdings Acquire 10.2 Acre Development Site In Pompano Beach For $23.1M

Development Site
Sold 06/25/2025
Michael Levy
PE
the dealplayerscompscontact
Contact now

Summary

Asset Type:Development Site
Transaction Type:Sale

A development site of 10.2 acres located at 33 Northwest 33rd Street in Pompano Beach was sold for $23.1 million. The site was previously utilized as a parking lot for the now-closed Festival Marketplace and is intended for development into an industrial campus near Florida’s Turnpike.

Summary of transaction details:

  • Property Type: Development Site
  • Transaction Amount: $23,100,000
  • Buyer: Paul Ellis - Foundry Commercial
  • Buyer: Michael Levy - Crow Holdings
  • Seller: Shibber Khan - Criterion Group
  • Market: Pompano Beach
  • Asset Size: 10.2 acres

Foundry Commercial partnered with Crow Holdings for this acquisition, representing significant collaboration in the real estate sector. Shibber Khan, representing Criterion Group, finalized the sale of the property.

Players

Michael Levy
Crow Holdings
Michael Levy
22 deals$2.5B volume
BUYER
Criterion Group
Criterion Group
SELLER

Details

SOLD
IMAGE: Paul Ellis, Michael Levy & Shibber Khan DATE: 06/25/2025 ADDRESS: 33 Northwest 33rd Street MARKET: Pompano Beach ASSET TYPE: Development Site ~ ACRES: 10.2 BUYER: Paul Ellis - Foundry Commercial (@FoundryCommercial); Michael Levy - Crow Holdings SELLER: Shibber Khan - Criterion Group SALE PRICE: $23,100,000 NOTE: Foundry Commercial, in partnership with Crow Holdings, acquired 10.2 acres at 33 NW 33rd St. in Pompano Beach for $23.1 million from Criterion Group. The site, once a parking lot for the now-closed Festival Marketplace, is slated for development into an industrial campus near Florida’s Turnpike.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

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