PetSmart, Japanese steakhouse to open at Pompano shops
A Sterling fund owns majority of the 970,000 sf shopping center
December 21, 2015 01:30PM
Pompano Citi Centre in Pompano Beach
Sterling Organization has inked two new leases at Pompano Citi Centre, a nearly 60-acre retail center in Pompano Beach.
PetSmart will lease a 15,000-square-foot space formerly occupied by Office Depot and next to Macy’s, according to a press release. The pet retailer will also include an in-store Banfield Pet Hospital. PetSmart will open next summer.
Saito’s Japanese Steakhouse will lease 8,000 square feet on the second floor, above Panera Bread. The local chain has locations in Boca Raton, Boynton Beach, CityPlace in West Palm Beach, Coconut Creek, Palm Beach Gardens and Wellington.
Jim Petrarca of the Shopping Center Group represented PetSmart and Bruce Corn of NAI/Merin Hunter Codman represented the steakhouse. Palm Beach-based Sterling represented itself.
The shopping center features 972,000 square feet. Sterling Value Add Partners, a Sterling fund, owns more than 400,000 square feet of the mall, which is anchored by J.C. Penney, Ross and Big Lots. The fund paid $15 million for the property in 2012.
Pompano Citi Centre, at the intersection of Federal Highway and Copans Road, was originally developed as Pompano Fashion Square in 1970, according to the press release. It was redeveloped into an open-air mall in 2006. National stores Lowe’s, Macy’s and Sears all own their properties. – Katherine Kallergis
Source: The Real Deal