PITTSBURGH, April 20, 2017 /PRNewswire/ -- ECHO Realty is pleased to announce its purchase of Pompano Plaza in a joint venture with Publix. Pompano Plaza, a 126,928 square foot Publix anchored center is situated on 9-acres at the intersection of State Federal Highway (US-1) and E. McNab Road in Pompano Beach, Florida. Publix's co-tenants include Marshalls, Office Depot, Tuesday Morning, Dunkin Donuts, and Chase Bank. Pompano Plaza was originally built in 1973 and underwent a major renovation in 2006 that demolished a portion of the former building to accommodate the 45,600 square foot Publix supermarket.
The acquisition of Pompano Plaza is ECHO's fifth Publix-anchored property in Florida, but its first in the southeastern part of the state. "We are excited to expand our footprint into Broward County through the acquisition of this high-quality Publix anchored center. In addition to the exceptional location, we were drawn to this opportunity by the anchor combination offered by Publix and complementary national anchor stores," said Thomas Karet, Chief Executive Officer of ECHO Realty.
This is ECHO's first joint venture with Publix. Drew Gorman, ECHO's Senior Vice President of Acquisitions said, "A venture with Publix seemed like a natural fit knowing their interest in this asset and ECHO's relationships with the other national tenancy." ECHO will be responsible for the leasing, management, and operational responsibilities for the shopping center.
About ECHO Realty
ECHO Realty is a privately held developer, owner, and operator of commercial real estate headquartered in Pittsburgh, PA, with offices in Washington, DC and Indianapolis, IN. ECHO's portfolio consists of 225 properties located in Mid-Atlantic, Southeast, and Midwest markets. ECHO's services include development and construction management, property management, leasing and brokerage (operating as ECHO Retail) and partnership administration. For more information about ECHO Realty, please visit www.echorealty.com.
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SOURCE ECHO Realty