POMPANO BEACH, Fla. (April 30, 2015) – Grover Corlew, a Florida-based real estate investment management group focused on acquiring, developing and operating office, retail and multi-family properties across the Southeast U.S., announced today the acquisition of three office buildings in Pompano Beach totaling $10.25 million.
The firm purchased the four-story 28,000 square-foot Chase Building at 2401 E. Atlantic Blvd. with Chase Bank as the anchor tenant; the four-story 31,500 square-foot Bank of America Building at 2335 E. Atlantic Blvd. with Bank of America as the anchor tenant; and Pompano Medical and Professional Center, a four-story 25,600 square-foot building with 16 medical and professional suites at 50 NE 26th Ave.
“Pompano Beach is undergoing a renaissance,” said Partner Mark Corlew. “We are excited about our role in the transformation. We are planning significant upgrades to all three buildings and will be aggressive in our leasing efforts to increase occupancy levels. We believe there are significant opportunities for us to bring new businesses into the city and potentially redeveloping portions of the properties over the long-term.”
Located on or near the highly traveled Atlantic Boulevard, all three buildings are easily accessible to major roadways including U.S. 1, I-95 and the Florida Turnpike and are surrounded by numerous retail centers and residential neighborhoods.
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About Grover Corlew
Led by experienced real estate veterans who have worked together since 2002 and who have more than 40 years of combined industry experience, Grover Corlew is a real estate investment management group focused on acquiring, developing and operating office, retail and multi-family properties across the Southeast U.S. Grover Corlew has offices in South Florida, Orlando and Atlanta and provides in-house asset management and property management services. The company is also an active developer with in-house development expertise as well as strategic relationships with tenants and local developers throughout the Southeast U.S.