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Stiles Corporation Acquires Retail Property In Pompano Beach For $30M

Property Image
SOLD
$30,000,000

Florida

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Retail410,934 SF
Sold 03/07/2024
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Property Image
SOLD

Stiles Corporation Acquires Retail Property In Pompano Beach For $30M

3301 Federal Highway & 3573 North Federal Highway

See Similar Deals
Retail410,934 SF
Sold 03/07/2024
Contact now

Summary

FLORIDA
Asset Type:Retail
Price Per Square Foot:$73
Total Square Footage:410,934 SF
Transaction Type:Sale

The retail property located at 3301-3573 North Federal Highway in Pompano Beach was sold in a transaction involving the Stiles Corporation as the buyer and Partridge Equity Group as the seller. The deal was facilitated by Howard Bregman from Marcus & Millichap. The sale price for the property was $30,000,000, with a total square footage of 205,467 and a price per square foot of $146.

Summary of transaction details:

  • Property Type: Retail
  • Transaction Amount: $30,000,000
  • Buyer: Stiles Corporation
  • Seller: Partridge Equity Group
  • Broker: Howard Bregman - Marcus & Millichap
  • Address: 3301-3573 North Federal Highway
  • Market: Pompano Beach
  • Square Footage: 205,467
  • Price per Square Foot: $146

Howard Bregman, representing Marcus & Millichap, played a key role in facilitating the transaction between the Stiles Corporation and Partridge Equity Group. The successful deal underscores the significance of experienced brokers in navigating complex real estate transactions, ensuring a mutually beneficial outcome for both the buyer and the seller.

Players

Howard Bregman
6 deals$48.9M volume(954) 245-3417
BROKER

Details

SOLD
IMAGE: Howard Bregman DATE: 03/07/2024 ADDRESS: 3301-3573 North Federal Highway MARKET: Pompano Beach ASSET TYPE: Retail BUYER: Stiles Corporation (@StilesCRE) SELLER: Partridge Equity Group BROKER: Howard Bregman - Marcus & Millichap (@MarcusMillichapinc) SALE PRICE: $30,000,000 SF: 205,467 ~ PPSF: $146

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,600,000.01

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$106,583.66
Cash-on-Cash Return-1.27%
Monthly Debt Service$142,215.31
Annual Debt Service$1,706,583.66