CTO Realty Growth announced the purchase of the Pompano Citi Centre, a 509,000‑square‑foot open‑air retail center on 35 acres in the Pompano Beach submarket of Fort Lauderdale, Florida, for $65.2 million. The transaction was completed on December 18 2025 and represents the company’s first entry into the Fort Lauderdale market.
The center is 92% occupied, anchored by Burlington, TJ Maxx, Nordstrom Rack, Ross Dress for Less, and J.C. Penney. An additional 62,000 sq ft of unfinished shell on the second level provides immediate leasing upside and the potential for rent increases as the space is brought to market. The high occupancy rate and strong anchor mix position the property to generate immediate rental income while offering a clear path to value creation through the development of the shell space.
The acquisition brings CTO’s year‑to‑date investment volume to $149.9 million. In Q3 2025 the company reported a net income of $0.03 per diluted share and a Core FFO of $0.48 per diluted share, down from $0.17 and $0.50, respectively, in Q3 2024. The new asset is expected to offset the recent decline in profitability by adding stable cash flow and the opportunity to raise rents on the shell space, thereby improving the company’s overall earnings profile.
CTO’s strategy focuses on acquiring high‑quality, open‑air shopping centers in high‑growth markets and repositioning distressed assets to unlock value. The Pompano Citi Centre acquisition aligns with this approach, adding a high‑occupancy property that can be leveraged for rent increases and future expansion. The company has been actively growing its portfolio, with $330.8 million invested in 2024 and $79.8 million in Q1 2025, and the new acquisition continues that momentum while diversifying its geographic footprint.
The deal underscores CTO’s commitment to expanding its presence in the Sun Belt and demonstrates confidence in the long‑term resilience of open‑air retail assets in the Fort Lauderdale area. By adding a well‑positioned, high‑occupancy center with significant development upside, the company is poised to enhance its portfolio’s income profile and support future growth initiatives.
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