PORT ST. LUCIE, FL – Joint-venture partners, PEBB Enterprises and Banyan Development have secured a contract to acquire 15 acres of land for the development of a grocery-anchored shopping center within the master-planned community, Tradition, in Port St. Lucie, FL.
Upon closing the acquisition, the partnership plans to construct a 71,000-square-foot neighborhood shopping center, titled the Shoppes @ the Heart of Tradition. The partners are currently in discussions with potential grocery tenants for the development.
The project's name, the Shoppes @ the Heart of Tradition, serves as an ode to its location near the master-planned community's heart sculpture, which is being designed and constructed by artist, JEFRË.
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Located near the intersection of Tradition Pkwy and the I-95 interchange, the project will connect to a main drop-off/pick-up area for the master-planned community's autonomous vehicle network, Tradition in Motion.
"This project will be a central hub for Tradition residents to shop and gather around the iconic Heart sculpture," says Jason Sher, principal of Banyan Development. "We have followed the growth of this area and saw an opportunity to complement the incredible work of Mattamy and other homebuilders in creating a critical mass of residents and complementary services, retail offerings and amenities."
PEBB Enterprises and Banyan Development have previously partnered on several other projects in Palm Beach County, including the current mixed-use development, Mainstreet at Boynton project in Boynton Beach, FL.
"We are excited to team up again with Banyan, this time making our initial foray into Port St. Lucie," states Ian Weiner, president and CEO of PEBB Enterprises. "The location and residential population make this an ideal retail development opportunity."
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
