The Real Deal Miami

Coral Gables-based KAS Partners buys Pompano Beach office building

May 24, 2012 12:45PM

Coral Gables-based KAS Partners has paid $1.33 million for the Arbour Building in Pompano Beach, according to CBRE, which represented KAS in the deal. The 26,197-square-foot office building is located at 440 East Sample Road in Pompano Beach. “The price point is typical of the latest trends in the market, with stabilized Class B buildings trading above a 10 percent cap rate,” said Marty Busekrus, senior associate with CBRE. “With respect to this particular sale, the buyer saw a property that had historically performed well, with rents at or slightly below market.” The property was 90 percent leased at the time of closing. Buskerus was joined by Scott O’Donnell, Dominic Montazemi and Miguel Alcivar in the deal. The seller, Andy Sneider, was represented by John Rapp of Rapp Realty. — Alexander Britell