POMPANO BEACH, Fla. — Sterling Organization has acquired 393,156 square feet at Pompano City Centre, a regional shopping center in Broward County.
The property is the first asset purchased through the company's institutional fund, Sterling Value Add Partners LP. It was purchased from Faison.
Sterling's acquisition includes anchor stores J.C. Penney, Ross Dress for Less, Big Lots and Office Depot as well as national tenants Chili's, Chase Bank, Lane Bryant, Rack Room Shoes, Foot Locker, GameStop, Panera Bread, GNC, Bath & Body Works and LensCrafters, as well as local retailers and medical and professional offices.
The property is shadow anchored by Lowe's, Macy's and Sears, which own their respective parcels. Pompano Citi Centre was originally developed in 1970 as an enclosed mall called Pompano Fashion Square. In 2006, Faison redeveloped the property into an open-air shopping center.