Festival Marketplace Gets a Revival – Pending Sale of 470,000 sq ft Property Indefinitely on Hold

Business

By Kristen Hernandez

On a beautiful Sunday afternoon, shoppers were browsing the shops at Festival Marketplace located at 2900 Sample Road. An advertisement on the outside LED screen announced a new Demented Escape Room is “Coming Soon.” In the packed parking lot, Tamarac resident, Adina, loaded several bags into her trunk after spending hours browsing the clothes shops.

“There are so many good bargains to be found here,” said Adina, who declined to give her last name. “From my understanding, the deal fell through and I’m glad. There are things you can find here that you can’t find anywhere else.”

The change of ownership, and likely demolition of the marketplace for industrial space, is now on hold indefinitely. A good majority of businesses that line the aisles decided to stay despite the sale of Festival to Atlanta-based IDI Logistics, which was announced in the Villij News last year. According to an interview with the Sun Sentinel, the current owner and CEO of IMC Management, Yorum Izhuk said, “If I had to bet on it, the flea market is staying.”

The early days of the coronavirus pandemic had in-store retail shoppers turning to online mega shops, leading to a steep decline in Festival foot traffic. Now that COVID restrictions are lifted, businesses and shoppers are eager to return to the atmosphere and hustle of in-person browsing and bargain hunting, which is exactly what Festival Marketplace is taking advantage of.

Local shoppers Carol Ann Kunkle and Sam Williams of Pompano Beach walked the jewelry booths, shopping for watches. “I come here to get my watch fixed because I just love coming here. It’s the best,” said Carol Ann. “Festival has an eclectic variety you can’t find anywhere. This place is special.”

Festival staff members at an information booth, who both declined to give their names, laughed when asked about the sale. “We’re here to stay,” said one woman. “We are no longer being sold and we’re not going anywhere.”

Some employees weren’t happy about the news of the marketplace staying put. “I was hoping to move on with my life and onto other things,” said Manny, a worker from NY Style Bagels and Deli. “Everyone I worked with has already left. I’m the only one still here.” Packed aisles littered with customers leisurely strolling about carrying bags of goodies proved shoppers disagree.

A glimpse of the Festival’s newfound revival can be seen in “Space for Lease” signs. Even though Festival Marketplace has been given a second chance, empty store booths left scattered among the open shops serve as a reminder the pending sale could still happen. The next year will determine what IMC Management decides to do with it. Stay updated on the latest events on the Festival Marketplace website.

Neither IMC Management nor IDI Logistics could be reached for comment.


Discover more from Villij News

Subscribe to get the latest posts sent to your email.

Leave a Reply

Your email address will not be published. Required fields are marked *