ECHO Realty announced its purchase of Pompano Plaza in a joint venture with Publix.
Pompano Plaza, a 126,928 square foot Publix-anchored center, is situated on 9-acres at the intersection of State Federal Highway (US-1) and E. McNab Road in Pompano Beach.
Publix’s co-tenants include Marshalls, Office Depot, Tuesday Morning, Dunkin Donuts, and Chase Bank.
Pompano Plaza was originally built in 1973 and underwent a major renovation in 2006 that demolished a portion of the former building to accommodate the 45,600 square foot Publix supermarket.
The acquisition of Pompano Plaza is ECHO’s fifth Publix-anchored property in Florida, but its first in the southeastern part of the state.
“We are excited to expand our footprint into Broward County through the acquisition of this high-quality Publix anchored center. In addition to the exceptional location, we were drawn to this opportunity by the anchor combination offered by Publix and complementary national anchor stores,” said Thomas Karet, Chief Executive Officer of ECHO Realty.
This is ECHO’s first joint venture with Publix.
Drew Gorman, ECHO’s Senior Vice President of Acquisitions said, “A venture with Publix seemed like a natural fit knowing their interest in this asset and ECHO’s relationships with the other national tenancy.”
ECHO will be responsible for the leasing, management, and operational responsibilities for the shopping center.
Source: PR Newswire
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