The property involved in the transaction is a 509,000-square-foot open-air retail center located at 1955 North Federal Highway, Pompano Beach. The asset spans 35 acres and is currently 92% leased. The purchase price for this retail property was $65.2 million.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $65,200,000
• Acres: 35
• Square Footage: 509,000
• Price Per Square Foot: $128
• Buyer: John P. Albright - CTO Realty Growth
• Broker: Cushman & Wakefield

CTO Realty Growth's acquisition marks its first entry into the Fort Lauderdale market. The center is anchored by retailers including Burlington, TJ Maxx, Nordstrom Rack, Ross Dress for Less, and J.C. Penney. Cushman & Wakefield was responsible for advising the seller, while Avenue Real Estate Partners handled leasing activities for the property.