Jim Clewlow Of CenterPoint Properties Acquires Industrial Park From Ted Pick For $124.5M In Pompano Beach
1971 North Powerline Road
$124,500,000
$266/SF
Building Size
467,722 SF
Asset Type
Industrial
Closing
Dec 30, 2025
AI
The industrial asset located at 1971-1991 North Powerline Road in Pompano Beach has a total size of 467,722 square feet and spans 29.3 acres. The property was sold for $124,500,000, translating to a price per square foot of $266. It was originally completed in 2019 for $68.95 million, indicating a significant increase in value due to strong industrial rent growth in the area.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $124,500,000
- Buyer: Jim Clewlow - CenterPoint Properties
- Seller: Ted Pick - Morgan Stanley Real Estate Advisor
- Square Footage: 467,722 SF
- Price Per Square Foot: $266
- Acres: 29.3
Jim Clewlow represents CenterPoint Properties in this transaction, while Ted Pick represents Morgan Stanley Real Estate Advisor. The deal reflects a robust industrial market in Broward County, despite a rise in vacancy rates.
Players
Deerfield Beach Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93