PEBB Enterprises, Banyan Development Close Site Acquisition For New Retail Project In Port St. Lucie
PEBB and Banyan picked up the 23-acre site for $7.46 million.
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PEBB and Banyan picked up the 23-acre site for $7.46 million.
The activity includes a significant lease renewal with Brookfield Corporation, a global leader in financial services, underscoring the ongoing demand for high-quality office space in South Florida.
The shopping center recently underwent a complete redevelopment which included an expansion of Publix from 36,464 square feet to 46,811 square feet.
The industrial warehouse consists of a masonry/tilt-up building totaling 22,408 square feet of RBA and situated on 1.58 acres.
The site spans six parcels and is one of the last remaining sites of this size allowing for large-scale development in the Edgewater area.
The lease was facilitated by Berger Commercial Realty/CORFAC International’s Senior Vice President Keith R. Graves, CCIM, SIOR, and Vice President Lawrence Oxenberg, who represented Solotech in this transaction.
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The new agreement secures 83,793 square feet of space, which includes an expansion of 14,560 square feet.
The properties are occupied by Taco Bell and Burger King.
The building has been 70% pre-leased to a cruise ship industry provider of non-perishable food items and food service supplies commencing with building completion and tenant build-out, expected to be in the third quarter of 2025, and expiring February 2033.
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