Acquisition Expansion: CTO Realty Growth has acquired Pompano Citi Centre for $65.2 million, expanding its footprint in Florida and marking its first entry into the Fort Lauderdale market.
Property Overview: The property spans 35 acres with 509,000 square feet of operating space, currently 92% occupied, and includes 62,000 square feet of unfinished space, presenting significant future leasing upside.
Market Opportunity: Located at a high-traffic intersection of Federal Highway and Copans Road, the surrounding area boasts over 250,000 residents within a five-mile radius and an average household income of $105,000, indicating strong consumer potential.
Investment Returns: This acquisition is expected to create long-term value through strategic rent adjustments and incremental leasing opportunities, bringing the year-to-date investment volume to $149.9 million.
CTO
$18.06+Infinity%1D
Analyst Views on CTO
About CTO
CTO Realty Growth, Inc. is a real estate investment trust that owns and operates a portfolio of retail-based properties located primarily in the United States. The Company’s segments include income properties, management services, commercial loans and investments, and real estate operations. The management services segment is a fee-based management business that is engaged in managing Alpine Income Property Trust, Inc. (PINE). The commercial loans and investments segment includes a portfolio of five commercial loan investments and two preferred equity investments, which are classified as commercial loan investments. Its income property operations consist of income-producing properties. Its business also includes its investment in PINE. Its portfolio of properties includes Carolina Pavilion, Millenia Crossing, Lake Brandon Village, Crabby's Oceanside, Fidelity, LandShark Bar & Grill, Granada Plaza and The Strand at St. Johns Town Center, The Shops at Legacy, Price Plaza, and others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
