The Grove at Celebration Pointe_Property for Sale
The Grove at Celebration Pointe_Property for Sale

The Grove at Celebration Pointe

1600 Joyful Cir, Fort Pierce, FL, 34947, US

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
2.93 ha
Number of units
145
Year built
2026

Media

Investment Highlights

  1. 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.
  2. 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.
  3. Significant Discount to For-Sale Homes: Average comparable homes within a 5-mile radius of the Property are selling for $345,000 ($200 PSF).
  4. 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).
  5. Superb Leasing Fundamentals: CoStar projects 3.7% annual rent growth, and 95% occupancy over the next 4 years.


The Grove at Celebration Pointe 4_Property for Sale
The Grove at Celebration Pointe 4_Property for Sale

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Last updated
7 Aug 2025