Cushman & Wakefield Negotiates $3.5M Sale of ±132-Acre Development Site in Fort Pierce
Christopher Thomson, Chris Metzger, Richard F. Etner Jr. and Matthew G. McAllister represented IDI Logistics in the Sale of the Site to FLF Holdings
FORT PIERCE, FL, January 2, 2020 — Cushman & Wakefield has negotiated the sale of a ±132.41-acre development site in St. Lucie County, FL.
The South Florida industrial team of Christopher Thomson, Chris Metzger, Richard F. Etner Jr. and Matthew G. McAllister represented Atlanta-based IDI Logistics in the disposition. FLF Holdings acquired the land for $3.5 million ($26,546 per acre) and was represented by Robert Smith of CBRE.
The site, named Crossroads Business Center, is located just south of Okeechobee Road at the convergence of Interstate 95 and Florida’s Turnpike in Fort Pierce. The property encompasses ±84.65 acres of developable land and is the second phase of Crossroads Park of Commerce, located immediately north of the site.
Initial plans for the site, under IDI Logistics’ guidance, include five industrial buildings ranging from ±140,000 to ±400,000 square feet or a single, ±1.2 million-square-foot, built-to-suit structure.
The property’s location provides immediate access to Interstate 95 and Florida’s Turnpike via Okeechobee Road. When developed, the site will offer frontage potential along Interstate 95.
“Crossroads Business Center offers users the opportunity to locate their operations in a highly visible, centrally located park in a dynamic market that continues to attract high-profile companies such as Walmart, the PGA Tour, Pepsi and Tropicana,” said Thomson.
The eight-member South Florida Industrial team led by Metzger, Etner Jr. and Thomson has negotiated just over 5.5 million square feet of sale and lease transactions valued at more than $168 million to date in 2019. For more information, please visit www.southfloridaindustrialteam.com.