A fully occupied 127,771-square-foot warehouse located at 4000 Dixie Highway in Pompano Beach, Florida, has been acquired by Sterling Investors for $24.3 million. The property, which now houses Spice Lab's headquarters, was previously purchased by Zurich Alternative Asset Management for $15 million in 2017 and underwent upgrades in 2021. The transaction reflects the strong industrial market in Broward County and highlights the significant activity in the area, as evidenced by Prologis' recent investment of $41.1 million in a nearby warehouse.

Summary of transaction details

• Property Type: Industrial
• Transaction Amount: $24,300,000
• Address: 4000 Dixie Highway, Pompano Beach, Florida
• Market: Pompano Beach
• Buyer: Sterling Investors - Khaled Kudsi
• Seller: Zurich Alternative Asset Management
• Square Footage: 127,771
• Price Per Square Foot: $190

Sterling Investors, led by Khaled Kudsi, successfully completed the acquisition of the warehouse in Pompano Beach. The property's transformation into Spice Lab's headquarters adds to its appeal and further demonstrates the robust industrial market in Broward County. This transaction also highlights the interest and investment activity in the region, with Prologis recently joining the market with their significant purchase of a nearby warehouse.