Industrial & Logistics

Sansone Legacy Park - Phase 2 Forward

Sw Becker Road & I-95, Port St. Lucie, FL, 34953, US

Sansone Legacy Park  - Phase 2 Forward_Property for Sale

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Asset description

As exclusive advisor, Jones Lang LaSalle Americas, Inc. ("JLL"), a licensed real estate broker is pleased to present the opportunity to enter into a forward purchase agreement for Building II of Legacy Park at Tradition Commerce Center. The rear-load facility will consist of 250,000 square feet upon completion and will be located within Legacy Park, a 500-acre, 5.5 MSF zoned industrial development situated within the broader Tradition Commerce Center: a 1,250-acre master planned development zoned for multi-purpose use. This business park is immediately adjacent to Interstate-95 and the interchange at SW Becker Road, allowing for easy access. 


This offering affords investors a forward purchase opportunity that will fund construction of Building II, a Class A logistics facility in one of the nation's most populous and fastest growing markets and one of Florida's most notable and accessible business parks.

Attributes

Building area Net
250,000 sf
Year built
2023

Investment highlights

RARE OPPORTUNITY TO ACQUIRE WITHIN A BEST-IN-CLASS MASTER-PLANNED PARK - The Property is located within the Tradition Center for Commerce, an approximately 1,247-acre development approved for a mix of uses including office, retail, industrial, multi-family, recreational and entertainment. The opportunity is situated at the intersection of SW Becker Road and Interstate-95, making it the connector between Orlando and Miami, with access to Florida’s turnpike. Significant spending on infrastructure in the park coupled with immediate highway connectivity make Legacy Park a perfect location for users looking to service South Florida. Furthermore, the park has been validated by several national users including FedEx Ground, Amazon, and Cheyney Brothers.


NEXT DISTRIBUTION HUB OF SOUTH FLORIDA Port St. Lucie is an attractive cost alternative to Miami and Orlando and has gained a reputation for being the next distribution hub of Florida due to reasonable land prices, immense population growth, and the significantly cheaper cost of living compared to the rest of the state. 65% of the workforce in the county travel outside of the county for employment providing an excellent labor pool for future users. Further, the market has experienced 90% population growth in the last ten years, with over 15 million people (70% of the state population) within three hours of the site. St. Lucie County is known as a lower-cost, livable community compared to Central Florida (Orlando) and Miami, yet still offers connectivity with these markets due to Port St. Lucie’s robust transportation infrastructure. Furthermore, the region offers a stable and highly favorable tax climate coupled with a significantly lower cost of doing business compared to other markets due to lower facility costs, labor costs, corporate taxes and travel costs. In fact, St. Lucie County offers the lowest average annual labor costs in southeast Florida.


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Last updated
Nov 30, 2022