USAA Real Estate and Seefried Industrial Properties have completed site work and started to pour the slab and walls at Kings Logistics Center, one of the largest speculative industrial developments with available space in the South Florida market.
The 664,176-square-foot Class A industrial park is located just off Interstate 95 at Orange Avenue/SR-68 in Fort Pierce.
Kings Logistics Center will be one of only a few industrial distribution centers located along I-95 between Daytona and Jacksonville. The property is expected to be completed in February 2023.
Colliers’ Lee Morris from Orlando and the Falk-Weprin Team from West Palm Beach will handle leasing on the project. The space features a 40-foot clear height, 248 trailer spots, 676 parking spots, excellent circulation with truck queuing lanes and a flexible site plan that can serve a single user or be divided for multiple tenants.
“Large industrial users looking to serve South Florida with freight coming from the ports of Jacksonville, Savannah, Charleston or down I-95 from the Northeast previously had few options. Kings Logistics Center offers a strong workforce, lower overall occupancy costs than comparable facilities in the tri-county market, and easy access to South Florida, making it a great fit for companies looking for a large-scale e-commerce, distribution or manufacturing facility. Also, because of limited options in southwest Florida, it is an option for firms impacted or expanding as a result of the recent impacts from Hurricane Ian, ” said Morris, SIOR, Executive Managing Director, Colliers
The property is equidistant from Lakeland and Miami and offers easy access to South Florida via I-95 and the Florida Turnpike. Over 20 million customers – or 93% of Florida’s population – are accessible within a four-hour drive of Kings Logistics Center.
“This area of the South Florida industrial market has seen tremendous growth recently, adding key logistics facilities for two Amazon facilities, as well as FedEx and Chaney Brothers, which have joined existing operations for Walmart, CVS, Pepsi, Cold Air Distributors and Tropicana,” Morris added.
“The reasonable cost of land in Fort Pierce compared to Dade, Broward and Palm Beach counties, along with the availability of affordable housing and an abundant labor force, make the area a target for logistic expansions in South Florida,” commented Michael Falk, SIOR Executive Managing Director, Colliers Falk-Weprin Team, West Palm Beach.
USAA Real Estate and Seefried Industrial Properties are also installing the roof and slated to complete a 984,960-square-foot Building #100 of I-4 Logistics Park in Deltona/Orlando with an expected completion date of January 2023 for phase one. Construction of the remaining buildings in the park, including a 500,000-square-foot building and several rear-load buildings, will soon follow.
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