Description

Jones Lang LaSalle Americas, Inc. ("JLL") is pleased to exclusively present the opportunity to acquire The Grove at Celebration Pointe ("the Property"), a 145-unit new construction build-to-rent townhome community in Fort Pierce, Florida (Port St. Lucie MSA). The community includes 53 existing units and 92 to-be-built townhomes that will be delivered in tranches, with full delivery by Q1 2026. The Property is located within a master-plan that features a cabana, pool, fitness center, parks, and walking trails. Moreover, there is an opportunity to build on-site amenities within the Property.

The Property is strategically located in St. Lucie County which has experienced a 9.3% increase in population growth from 2020-2024 (300% more than the national average), and has an affluent average household income of +$100,000 (19.4% higher than the national average).

Moreover, The Grove has excellent access to I-95 (4-minute drive), Florida’s Turnpike (5-minute drive), Okeechobee Road (2-minute drive) and future Brightline Station (10-minute drive) providing residents fantastic connectivity to major employment hubs along the Treasure Coast including medical and education jobs at HCA Lawnwood Hospital (+2,000 employees), Cleveland Clinic Tradition Hospital (+1,500 employees), Indian River State College (+1,500 employees), a plethora of retail concepts (Walmart, Publix, Home Depot, Starbucks, Wawa, Chick-Fil-A, etc.), and Florida's beautiful beaches.

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Attributes

Land area gross

7.25 acres

Number of units

145

Year built

2026

Media

Investment Highlights

Largest Rental Units with Top Quality Finishes: The Grove features concrete-block construction, 1,973 SF townhomes, sitting on oversized 23-24' lots, with 1-car garages & 2-car driveways, washer and dryer, hurricane-resistant impact windows / sliding-glass doors and private backyards.
Rent vs. Own Value Proposition: Purchasing a home has a monthly cost of approx. $3,316 which is $616/month (23%) more expensive than renting at The Grove for approx. $2,750. Moreover, this calculation does not account for the hefty down payment needed.
Significant Discount to For-Sale Homes: Average comparable homes within a 5-mile radius of the Property are selling for $345,000 ($200 PSF).
Growing Economy with $100,000 Avg. HHI: St. Lucie County has seen population growth of 9.3% from 2020-2024 (4X faster than the national average), and an average household income of +$100,000 (19.4% higher than the national average).
Superb Leasing Fundamentals: CoStar projects 3.7% annual rent growth, and 95% occupancy over the next 4 years.