CTO Realty Growth expands retail portfolio into Broward with $65M buy
CTO Realty Growth made its first acquisition in South Florida, picking up a Broward shopping center for $65.2 million. Winter Park-based CTO, led by John Albright, acquired Pompano Citi Centre, a 509,000-square-foot retail complex at 1955 North Federal Highway in Pompano Beach, a news release states. The buyer paid roughly $128 per square foot. Cushman & Wakefield brokered the transaction. Pompano Citi Centre is the latest South Florida shopping center to change hands in a recent flurry of year-end trades. The seller, an affiliate of West Palm Beach-based Sterling Organization, paid $15 million for the 35-acre property in 2012, […]This article originally appeared on The Real Deal. Click here to read the full story.
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