CBRE Arranges $30.9 Million Sale Of Treasure Coast Commerce Center Portfolio

CBRE has arranged the $30.9 million sale of the Treasure Coast Commerce Center portfolio, a seven building, multitenant industrial portfolio totaling 153,198 square feet in Stuart.

CBRE represented both the seller, Ted Glasrud Associates, Inc., and the buyer, NorthBridge Partners, in the transaction, which closed May 8. The CBRE team included Tyler Kuhlman, Luke Hansen and C’jon Armstead.

The Treasure Coast Commerce Center Portfolio is located at 7675 SW Ellipse Way and 7897-7917 SW Jack James Dr. The portfolio was 95% leased at the time of sale and features a diversified tenant roster across multiple industries, helping mitigate industry specific risk. Current rental rates are approximately 30% to 40% below prevailing market levels, offering meaningful upside potential.

“Demand for Treasure Coast Commerce Center was strong, generating nearly 40 offers and strong institutional interest,” said Kuhlman, First Vice President with CBRE. “CBRE’s targeted marketing approach created a highly competitive process, allowing the seller to maximize value while positioning the buyer to benefit from stable cash flow and long term growth. The transaction reflects continued investor interest in Florida’s supply constrained industrial markets.”

The sale ranks among the largest industrial transactions on record in Martin County, signaling significant market expansion and growing interest from both institutional and private investors.