Kurv Industrial Closes South Florida’s Largest Industrial Deal of Year at $220M
Kurv Industrial has acquired the East Pompano Industrial Center for $219.7 million in the largest industrial transaction in South Florida so far this year. Ares Management provided $154.9 million in acquisition financing.
The five-building warehouse property in Pompano Beach, Fla., covers roughly 820,000 square feet across nearly 50 acres east of Interstate 95 with properties at 1240, 1260 and 1300 Northeast 48th St. Most of the campus was built between 2020 and 2024. One smaller facility dates back to 1994. The price works out to approximately $268 per square foot.
Vancouver-based QuadReal Property Group, the seller, assembled the site for a combined $25.9 million in 2017. According to Yardi research data, the broader Miami industrial market has absorbed more than 19 million square feet of new warehouse space since 2022, but the construction pipeline has since contracted to roughly 2.1 million square feet under development.
Kurv, formerly Bridge Industrial, rebranded in March after 25 years of operations. The Chicago-based firm, founded by CEO, Steve Poulos, has been one of the most active industrial investors in South Florida in the last decade, acquiring more than 750 acres across 23 transactions and delivering more than 11 million square feet of Class A space since entering the market in 2012. Currently, it’s converting an office campus in Doral, Fla., into two warehouses on a $56.7 million construction loan and redeveloping Ryder’s former corporate headquarters in nearby Medley, Fla. The portfolio will be rebranded as Kurv Pompano.
The acquisition landed within days of another nine-figure Pompano Beach trade: Blackstone’s Link Logistics paid $163.1 million for Pompano Business Center, a 623,256-square-foot campus at 2510 W. Copans Road, from Clarion Partners. That property last changed hands in 2016 for $77.3 million. Together, the two deals brought nearly $383 million in industrial investment into a single Broward County city in one week.
Blackstone had spent the previous two years moving in the opposite direction, selling more than $1 billion worth of South Florida warehouses. Its return to the buy side through Link Logistics — along with Northbridge Partners’ $81.5 million purchase of a small-bay campus in Lauderdale Lakes, Fla., earlier in March — adds to a run of institutional capital flowing back into Broward County industrial after a period of net dispositions.