CTO Realty Growth announces acquisition of Pompano Citi Centre for $65.2M

CTO Realty Growth (CTO) announced the acquisition of Pompano Citi Centre, an open-air retail center located on 35 acres in the Pompano Beach submarket of Fort Lauderdale, Florida, for a purchase price of $65.2 million. “This acquisition expands our Florida footprint and marks our first entry into the Fort Lauderdale market,” said John P. Albright, President and Chief Executive Officer of CTO Realty Growth. “We see an attractive opportunity to create long-term value through strategic mark-to-market rent opportunities and incremental leasing. Further, this transaction is accretive to an anticipated property disposition and brings the year-to-date investment volume to $149.9 million.”