"This tract was one of the most sought after sites on the Treasure Coast. Additionally, this was the only site in the market with infrastructure in place," says IDI vice president and regional development officer Scott Helms, who is in the company's Fort Lauderdale office. Ron Kent, of Coldwell Banker Commercial NRT, represented IDI.
IDI plans to start construction in the summer on the first building in the project to be called Crossroads Business Center. The development will have a variety of build-to-suit and inventory space options in buildings that will range from 140,000 sf to more than 400,000 sf.
IDI vice president of leasing in the Fort Lauderdale office Larry Dinner tells GlobeSt.com that the first building will be a speculative 150,000-sf building. The size and number of the other buildings has not yet been determined. "We think this will be a phenomenal site for build-to-suit projects," he says.
The site provides direct visibility and access to Interstate 95 and the Florida Turnpike, as well as four-lane roads accessing each side of the park. The park is located in St. Lucie County, which is the third-fastest growing county in Florida and is emerging as a distribution hub due to its business-friendly environment and lower cost of living than Palm Beach, Broward and Dade counties. From this location, approximately 70% of the population of Florida can be reached by truck in less than two hours. "This will serve both South and Central Florida. It's a continuation of the projects we have in Florida," Dinner says.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
