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2900 West Sample Road

Updated Sep 26, 2025

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

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

2900 West Sample Road

$66,000,000

Building Size

—

Asset Type

Retail

Closing

Sep 25, 2025

About this deal

AI

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.

On the Map

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$66,000,000

Retail

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Players

Merrick Kleeman

Wheelock Street Capital

Buyer

$497.5M

vol

8 deals

Buyer
Yoram Izhak

Yoram Izhak

IMC Equity Group

Seller

$527.1M

vol

22 deals

Seller
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Pompano Beach Retail Market Snapshot

Boundary boundary · Retail · Sale transactions

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Purchase Price

Annual NOI

Loan Amount

Interest Rate (%)

Loan Term (yrs)

Down Payment (%)

Cap Rate

0.24%

Cash-on-Cash

-0.07%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93

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