Costco, Sansone Group Acquire 192 Acres In Port St. Lucie For Industrial Development
The companies plan to develop a 595,000-square-foot depot facility at the site.
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The companies plan to develop a 595,000-square-foot depot facility at the site.
Thad Adams, Managing Director of Brokerage Services at The Allen Morris Company, along with Rafael del Rosal and Maricarmen Cabrera, also with The Allen Morris Company, represented the tenant in lease negotiations. Kevin Gonzalez, Senior Vice President, Tom Farmer, Vice President and Stephen Rutchik, Vice Chairman with Colliers, represented the landlord.
The transaction ranked as South Florida’s largest urban retail lease in 2023 and the fourth-largest retail lease deal overall.
The property features a full block’s frontage on Biscayne Boulevard between 25th and 26th streets.
The first phase of the affordable/workforce apartment community will deliver 120 apartments catered to seniors in Leisure City of southern Miami-Dade.
The office is launching with seven to ten attorneys plus a support team. The firm has nearly 30 lawyers across its three locations, which include Manhattan, New York; Palm Beach, Florida and Miami offices.
The massive industrial park in Stuart, Florida is being developed by Foundry Commercial.
Jonathan De La Rosa and Eduardo Toledo, investment specialists in Marcus & Millichap’s Miami office, represented El Car Wash and procured the buyer, a personal trust.
Proposed changes are under consideration that would smooth out ambiguities in the law that have been used to push back on proposals as well as tighten rules around project heights and the types of sites that qualify under its provisions.
Will Falero, President with Pro Industrial LLC, represented both the buyer and seller in the transaction, which closed January 10.
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