CBRE’s Robert Smith, Kirk Nelson and Jeff Kelly Awarded Exclusive Leasing Assignment For 3.2 Million SF Industrial/Distribution Park

Jun 17, 2020 No Comments by

CBRE Executive Vice President Robert Smith, Senior Vice President Kirk Nelson and Executive Vice President Jeff Kelly have been named exclusive leasing agents for Sansone Group’s newest project, an approximately 3.2-million-square-foot single- and multi-tenant Class A, institutional quality light industrial and distribution development.

CBRE's Robert Smith, Kirk Nelson and Jeff Kelly

Sansone Group plans to build a 600,000-square-foot expandable speculative distribution facility and a 150,000-square-foot multi-tenant distribution facility in the first phase of the three-phase project. Subsequent phases will include speculative and build-to-suit facilities along with pad-ready sites.

Sansone Group’s anticipated timing is to close on the land and commence site work late fourth quarter of 2020 or early first quarter of 2021, and complete Phase One for occupancy by the fourth quarter of 2021. The timing for the second and third phases would be dependent on market conditions.

 

“Based on labor, land pricing, large tract availability as well central location, it has become clear to us that St. Lucie is the most logical major distribution center location to service a majority of Florida’s population rapidly growing E-commerce needs,” commented Smith.

 

“We believe that St. Lucie is long overdue for the newest generation of Class A warehouse space similar to what has recently been developed throughout the Tri-County markets,” added Nelson.

Pete Tesch, president of the Economic Council of St. Lucie County (EDC), said that, based on industry averages, the facilities would likely employ 2,500-2,600 people and it is estimated that the payroll created at build-out would exceed $100 million annually.

 

“It is especially refreshing to see something like this happen during an economic and health crisis,” said Tesch, who had worked with EDC Vice President Jill Marasa on the project for several months. “Sansone Group is a nationally prominent industrial and commercial developer that wants to develop this project in Port St. Lucie, creating thousands of jobs.”

Founded in 1957 by Anthony F. Sansone, Sr., Sansone Group is a nationally recognized commercial real estate and development firm based in St. Louis, Missouri with regional offices in Sunrise, Florida and Indianapolis, Indiana. Over its 63-year history, Sansone Group has established an outstanding reputation for developing high quality projects in key markets throughout the United States. This includes development in commercial, industrial and multi-family sectors. Sansone Group’s current industrial pipeline encompasses 44 projects in 13 states. The company specializes in property and facility management, brokerage, development and redevelopment of retail, industrial, office and residential properties.

With over 70 years of combined experience as the brokerage market leaders with CBRE, Inc., Kelly, Smith, and Nelson have completed thousands of sale and lease transactions totaling billions of dollars in total consideration. They consistently achieve production levels high enough to be recognized nationally within CBRE. ​​

 

 

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Industrial / Flex, Industry News, Palm Beach County Industrial / Flex
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