SOLD
NNN REIT Sells LA Fitness Property In Pompano Beach For $18.83M
1000 Federal Highway
Retail
56,904 SF
56,904 SF
Sold 25 days ago
Summary
Sale
FLORIDA
Retail
56,904 sqft
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.
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Details
SOLD
IMAGE: Stephen A. Horn Jr.
DATE: 04/11/2024
ADDRESS: 1000 North Federal Highway
MARKET: Pompano Beach
ASSET TYPE: Retail ~ ACRES: 5.3
BUYER: Marc Schwarzberg - Maven Real Estate
SELLER: Stephen A. Horn Jr. - NNN REIT
LENDER: City National Bank of Florida (@CityNationalBankofFlorida)
SALE PRICE: $18,830,000
SF: 56,904 ~ PPSF: $331
NOTE: NNN REIT sold a Pompano Beach building housing LA Fitness for $18.83 million to 1000 NFH LLC, led by Marc Schwarzberg, with financing from City National Bank of Florida, marking the first sale of the 56,904-square-foot fitness center built in 2015 on a 5.3-acre site. NNN REIT specializes in single-tenant commercial properties, with this LA Fitness property being one of 29 in its portfolio, reflecting solid demand for fitness centers in Pompano Beach amid increasing multifamily construction.View on map
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Address1000 Federal Highway
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