Costco, Sansone Group Acquire 192 Acres In Port St. Lucie For Industrial Development

Big-box wholesale retail giant Costco and St. Louis-based development firm Sansone Group have teamed up to purchase 192 acres within Legacy Park at Tradition, a 425-acre industrial park in Port St. Lucie.

The companies plan to develop a 595,000-square-foot depot facility at the site.

Costco has industrial development rights to expand its project up to 1.9 million square feet. Other Sansone-developed projects at Legacy Park at Tradition include build-to-suit facilities for FedEx Ground and Amazon, as well as two speculative facilities. The developer is also in the planning stages of another spec facility and a cold storage property within the park.

The project team for the Costco development includes engineer Culpepper & Terpening, legal counsel Husch Blackwell, the City of Port St. Lucie and Robert Smith and Kirk Nelson at CBRE.

The construction timeline was not disclosed.

 

Source:  RE Business