The sprawling Festival Market in Pompano Beach, once destined to be sold this year and demolished in favor of a warehouse distribution center, has not changed hands — and a deal is far from a certainty, the owner said Tuesday
Last summer, the popular market destination for shoppers and tourists at 2900 W. Sample Road appeared headed for an unspecified date with demolition crews.
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That was after IDI Logistics of Atlanta was to have bought the site from Yoram Izhak of the North Miami Beach investment firm IMC Equity Group.
Pompano Beach city commissioners approved the developer’s request to change the land-use designation of more than 27 acres from commercial to industrial. The company’s site plan application called for two buildings covering more than 470,000 square feet combined.
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In addition, an estimated 200 vendors who sell everything from jewelry to clothes, shoes, electronics, cosmetics, collectibles and other items were to be given a year or more to find new locations.
But buyer and seller have yet to sign on the dotted line, Izhak told the South Florida Sun Sentinel on Tuesday. Moreover, he said, he isn’t sure if a deal will happen.
“We don’t know yet; we’re in touch with them,” he said. “If I had to bet on it, the flea market is staying. If you asked me today, I’d say [the sale] is not going through.”
Some vendors said they had been told by management that the deal was off. Signs advertising leasing opportunities decorate the walls of empty booths, and some business owners aren’t leaving, but are shifting locations within the market.
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IDI Logistics did not respond to two emailed requests for comment.
In the meantime, it was business as usual at the market on Tuesday as shoppers and browsers casually filtered through the flea market’s vast warren of kiosks, booths, and shops as holiday music played in the background.
A Christmas party is scheduled for Dec. 10 and several dates for children’s visits and photos with Santa Claus are set through Dec. 17.
Staff writer David Lyons can be reached at [email protected]
Source: https://t-tees.com
Category: WHY
