Treasure Coast Land Purchase Paves Way for 1.3 MSF Crossroads Business Center
Fort Pierce, FL (February 15, 2008) -- IDI, a full-service industrial real estate company, has purchased 129 acres in Fort Pierce, Fla., for $17 million from St. Andrews Episcopal Church to accommodate its plans for a new business park called Crossroads Business Center. Located in Crossroads Park of Commerce, IDI’s business park will feature nearly 1.3 million square feet of Class-A warehouse and distribution space.
Ron Kent of Coldwell Banker Commercial NRT represented IDI in the transaction.
“This tract was one of the most sought after sites on the Treasure Coast. Additionally, this was the only site in the market with infrastructure in place,” said Scott Helms, vice president and regional development officer in IDI’s Fort Lauderdale office. The site provides direct visibility and access to both Interstate 95 and Florida’s Turnpike, as well as four-lane roads accessing each side of the park. IDI’s intention is to be the low-cost provider for distribution space serving South Florida and Central Florida.
“Companies that locate at the park will have the best highway access available,” Helms said. “The site will offer excellent visibility from both I-95 and Florida’s Turnpike.”
The business park’s strategic location in St. Lucie County is ideally suited for regional distribution. St. Lucie County is the third-fastest growing county in Florida, and it is an emerging commercial hub because of its business-friendly environment, high quality of life and lower cost of living than Palm Beach, Broward and Dade counties.
Its location in the center of the Treasure Coast will put distributors in close reach to a large population base. “From this location, approximately 70 percent of the population of Florida can be reached by truck in less than two hours,” Helms said.
IDI plans to begin construction on its first building at Crossroads Business Center in summer 2008. The park will provide a variety of flexible build-to-suit and inventory space options in buildings that will range in size from 140,000 square feet to more than 400,000 square feet. “This project is an excellent opportunity for IDI to serve distributors and retailers at a centrally located site on the Treasure Coast,” said Larry Dinner, vice president of leasing in IDI’s Fort Lauderdale office.
Atlanta-based IDI is a full-service industrial real estate company with eight regional development offices. With a single focus on industrial real estate, IDI provides unmatched development, leasing, investment and property management services. IDI’s state-of-the-art warehouse, distribution and light-manufacturing facilities enable clients to improve employee productivity, reduce operational costs and achieve global supply-chain efficiencies. To date, IDI has developed 119 million square feet of space across North America for a growing roster of international clients.