PEBB Enterprises, Banyan Development Expand Treasure Coast Presence With New CRE Acquisition

PEBB Enterprises and Banyan Development continue to target the Treasure Coast region for strategic investment opportunities, with a particular focus on rapidly growing Port St. Lucie. In the latest example, the joint venture just closed on the $15.25 million purchase of a Class A industrial building in St. Lucie West Commerce Park.

The 122,626-square-foot facility acquired by PEBB and Banyan is fully occupied by RAW Nutrition, a leading premium supplement brand that is enjoying substantial growth in the sports nutrition sector.

The 8.31-acre property is located at 760 NW Enterprise Drive. The transaction closed on Sept. 26.

Seacoast Bank provided acquisition financing to the buyers. Mike Ciadella from Cushman & Wakefield led a team that marketed the property on behalf of the seller.

The building was originally constructed in 2004 as a build-to-suit for media company Scripps’ printing plant, which closed in 2021. It underwent a $2.6 million renovation before RAW signed on as the sole tenant. RAW also invested significantly to transform the building into a world-class headquarters and distribution center.

“This acquisition adds a newly renovated industrial asset anchored by a dynamic, long-term tenant to our Treasure Coast portfolio,” said PEBB Enterprises Chief Investment Officer Eric Hochman. “RAW Nutrition’s commitment to Port St. Lucie underscores the city’s momentum as both a residential and business hub. With this investment and our ongoing development at Southern Grove, PEBB and Banyan are doubling down on our confidence in this region’s future growth.”

PEBB and Banyan are currently under development with the Shoppes at Southern Grove project in Port St. Lucie’s master-planned Tradition community. It recently started construction of the 134,000-square-foot Lowe’s store at Shoppes at Southern Grove, which is projected to open in 2026.