The industrial service facility site located at 2501 Wiles Road in Deerfield Beach was recently sold for $59,000,000.00. The ±22.7-acre property features I-2, Heavy Industrial Zoning, LED site lighting, and incredible highway accessibility. The site will undergo redevelopment into a Class A industrial outdoor storage facility with two warehouse maintenance and service buildings and two office buildings. At present, only four acres are available for lease, with the entire site expected to be available by May 2023.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $59,000,000.00
• Address: 2501 Wiles Rd, Pompano Beach, FL
• Market: Pompano Beach
• Buyer's Rep: Noah Ohayon (CBRE)
• Buyer: Industrial Outdoor Ventures
• Seller: Undisclosed

CBRE's Executive Vice Presidents Larry Genet and Tom O’Loughlin, together with Associate Noah Ohayon, played a key role in negotiating the sale of the property to Chicago, Illinois-based Industrial Outdoor Ventures. The deal, which closed on October 11, did not involve any other brokerage firm. The buyer, IOV, demonstrated exceptional performance in executing the transaction successfully, reflecting their deep market understanding and rigorous underwriting processes. IOV's Anthony DeLaurentis highlighted the scarcity of such large ISF sites and their immediate decision-making process upon learning of this opportunity. The property offers great flexibility for either single or multi-tenant configurations, and IOV looks forward to collaborating with the CBRE team as they prepare to lease the site.