The Pompano Beach building housing LA Fitness, located at 1000 North Federal Highway, was sold for $18.83 million in a transaction involving a 5.3-acre site. The 56,904-square-foot fitness center, constructed in 2015, was acquired by 1000 NFH LLC, led by Marc Schwarzberg of Maven Real Estate, from NNN REIT. City National Bank of Florida provided the financing for this transaction.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $18,830,000
• Buyer: Marc Schwarzberg - Maven Real Estate
• Seller: Stephen A. Horn Jr. - NNN REIT

NNN REIT, specializing in single-tenant commercial properties, completed the sale of one of its 29 properties, the LA Fitness building in Pompano Beach, to 1000 NFH LLC. This transaction highlights the demand for fitness centers in the area amidst the growing multifamily construction trend.