Kurv Industrial announced on April 2 the purchase of a warehouse portfolio in Pompano Beach for $219.7 million, marking South Florida’s largest industrial property deal so far this year.
The acquisition is significant as it highlights continued strong demand for industrial real estate in the region, with investors seeking large-scale assets and redevelopment opportunities.
According to records and real estate database Vizzda, three affiliates of Chicago-based Kurv Industrial, led by Steve Poulos, bought the East Pompano Industrial Center. The portfolio consists of five warehouses totaling 819,800 square feet. The transaction was financed with a $154.8 million mortgage from AREEIF Lender. The price paid equates to $268 per square foot.
The properties are located at 1260 Northeast 48th Street, 1240 Northeast 48th Street, and 1300 Northeast 48th Street and will be rebranded as Kurv Pompano. Vancouver-based QuadReal Property Group, led by Dennis Lopez, sold the buildings to Kurv in three separate transactions: two buildings completed in 2020 sold for $122.5 million; two warehouses built in 2023 on nearly 24 acres went for $93.1 million; and a facility completed in 1993 was acquired for $4.5 million.
Records show that QuadReal originally purchased these properties for a combined total of $25.9 million in 2017—a sale price increase representing a gain of about 748 percent over seven years.
Institutional interest in South Florida’s warehouse sector continues to rise. Blackstone recently acquired another major Pompano Beach warehouse portfolio for $163.1 million this week.
Kurv has been active elsewhere across South Florida as well: In February it secured a $56.7 million construction loan to redevelop a Doral corporate campus into two warehouses totaling nearly 269,000 square feet; last year it also paid more than $45 million for the former Corporate Park of Doral site; and it is transforming Ryder System’s former headquarters near Doral into an industrial complex with another recent construction loan valued at $53 million.
