Foundry Commercial And Wheelock Street Capital Acquire Festival Marketplace In Pompano Beach For $66M

The retail property asset located at 2900 West Sample Road in Pompano Beach comprises 26 acres and is part of a transaction that included a sale price of $66,000,000. The total square footage of the asset is 474,000, with a price per square foot of $139.

Summary of transaction details:

• Property Type: Retail
• Transaction Amount: $66,000,000
• Buyer: Paul Ellis - Foundry Commercial; Merrick Kleeman & Jonathan Paul - Wheelock Street Capital
• Seller: Yoram Izhak - IMC Equity Group
• Acres: 26
• Square Footage: 474,000
• Price Per Square Foot: $139

Foundry Commercial, in collaboration with Wheelock Street Capital, is undertaking the redevelopment of the shuttered Festival Marketplace into Festival Logistics Park. The project is planned to feature three warehouses and will include 457 parking spaces, with demolition set to begin in Q4 2025 and expected completion in late 2026.