Class A distribution facility in Southern Florida trades
JLL Capital Markets closed the sale of 11675 SW Tom Mackie Blvd. in Port St. Lucie, Florida
CHICAGO, Jan. 25, 2023 – JLL Capital Markets announced today that it has closed the sale of 11675 SW Tom Mackie Blvd., a newly developed manufacturing and distribution facility totaling 411,852 square feet in Port St. Lucie, Florida.
JLL represented the seller in the sale to Bridge Net Lease, a subsidiary of Bridge Investment Group.
The distribution center is in the Tradition Center for Commerce, a 1,247-acre master-planned development park consisting of office, retail, industrial, multifamily, recreational and entertainment mixed-uses. Positioned on 37.9 acres in Port St. Lucie, the property is ideally situated near Interstate 95, which allows the tenant to reach over 20 million residents within a four-hour drive. The area has become a high-growth distribution hub of Florida due to its cost-effective location compared to Miami or Orlando and its convenient access to several key ports.
The JLL Capital Markets Investment Sales Advisory team representing the seller was led by Managing Directors Jason DeWitt and Luis Castillo, Senior Managing Director Brian Shanfeld, Director Cody Brais and Associate Josh Katlin.
JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The group’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment and sales advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 102,000 as of September 30, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Bridge Investment Group
Bridge is a leading, vertically integrated real estate investment manager, diversified across specialized asset classes, with approximately $43.8 billion of assets under management as of September 30, 2022. Bridge combines its nationwide operating platform with dedicated teams of investment professionals focused on select U.S. real estate verticals: residential rental, office, development, logistics properties, net lease, real estate-backed credit, renewable energy and proptech.