Treasure Coast’s growing population has driven industrial demand as the region attracts employers with its ideal business environment and strong labor force.
As the exclusive listing broker for Interstate Commerce Center, Colliers Executive Vice President’s Michael Falk and Scott Weprin, along with Associate Jonathan Temple represent the property owners, JBL Asset Management and Avenue Property Group, in marketing the property.
Interstate Commerce Center is a brand new, Class A distribution warehouse located at 3800 Crossroads Parkway in the booming City of Fort Pierce. The ±211, 547-square-foot property offers spaces from 25,000 square feet to the entire building for lease. The center is in the desirable climate of Saint Lucie County, benefitting high long-term growth prospects and access to a growing workforce.
“Crossroads Business Park is home to companies such as Pepsi Bottling, Ryder Truck, and JJ Taylor Distributing. The area has always been strategically located between I-95 and the Florida Turnpike and this new project provides unrivaled transportation access with expansive signage opportunities directly fronting on I-95, becoming the go-to destination for any industrial user looking to grow their presence in this market,” said Falk.
The project’s sponsor and property manager, JBL Asset Management, is a privately held, fully-integrated commercial real estate services company. The South Florida-based company was founded in 2005 by Jacob Khotoveli. JBL invests private capital in major metropolitan areas throughout the Eastern United States. JBL’s portfolio currently exceeds 4 million square feet of real estate, diversified across retail, multifamily, and industrial asset classes.
They are partnered with Avenue Property Group, a boutique real estate investment company founded in 2010 by Daniel Gohari. The company specializes in identifying industrial/commercial assets and executing opportunistic strategies to maximize value. The company’s investment strategy primarily targets Florida and New York, as well as markets across the United States, with their extensive industry knowledge. Avenue Property Group owns and is partner in over three million square feet of real estate and is currently undergoing wetland mitigation and site plan approval for a 40-acre industrial park in Melbourne.
“Treasure Coast’s abundant land supply and skilled labor force have attracted developers interested in bringing large-scale developments to life much faster than South Florida’s tri-county area,” said Temple.
The region’s residential market continues to flourish as population growth outpaces state, national, and regional averages. Over the next five years, Treasure Coast’s population is expected to increase by 5.7% as new residents are attracted to the area’s high quality of life and tax advantages. The industrial market will continue to expand as developers purchase land to develop work-live-play communities catering to the heightened demand for consumer services and housing.
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