Kurv Industrial has finalized the acquisition of the East Pompano Industrial Center for a substantial $219.7 million, marking what the company states is the largest industrial transaction in South Florida this year. The deal was made with seller QuadReal Property Group.
Key Takeaways
- Kurv Industrial acquired the East Pompano Industrial Center for $219.7 million.
- This acquisition is part of a larger $789 million joint venture with Canada Pension Plan Investment Board (CPP Investments).
- The industrial park, spanning 818,611 square feet, is currently over 50 percent leased.
- The property will be rebranded as Kurv Pompano and will undergo significant capital improvements.
Strategic Acquisition Bolsters South Florida Presence
The acquisition of the East Pompano Industrial Center is a significant move for Kurv Industrial, reinforcing its strong presence in the South Florida market. This purchase is integrated into a previously announced $789 million joint venture with Canada Pension Plan Investment Board (CPP Investments), highlighting a strategic expansion initiative.
Future Plans for Kurv Pompano
Following the acquisition, the expansive 818,611-square-foot warehouse park, currently more than half leased, will be rebranded as Kurv Pompano. The company has outlined plans for substantial capital improvements, including the development of specialized office spaces and the implementation of energy-efficient upgrades. These enhancements are designed to elevate the property’s appeal and accelerate its lease-up process. Kurv Pompano will offer modern industrial space solutions ranging from 20,000 to 215,000 square feet, catering to a diverse range of business needs.
Kurv Industrial’s Track Record
Kurv Industrial, formerly known as Bridge Industrial, has a well-established history in the South Florida region. Since 2012, the firm has been active in acquiring industrial real estate, having completed over 800 acres of acquisitions across 24 separate transactions. The company has a proven track record of developing and managing significant industrial space, with over 12 million square feet of Class A industrial space acquired, delivered, or currently under construction throughout the region.