Stonemont Financial Group Sells Building at South Florida Logistics Center 95

Stonemont Financial Group, a private real estate investment firm specializing in industrial development, acquisitions and net lease investments, has sold a 245,000-square-foot warehouse at South Florida Logistics Center 95 in Fort Pierce.

The buyer will occupy the entire building, which is one of two at the 1.3-million-square-foot development.

The purchaser hopes to expand its operations and client reach in Florida. The rear-load facility is located at the intersection of South Kings Highway and Orange Avenue and features 32’ clear heights, 40 dock doors and 60’ speed bays. Chris Spear of ComReal represented the buyer in the transaction, while Sky Groden of JLL represented Stonemont.

“This facility will serve as an opportunity for our customer to quickly traverse across South Florida, get their product out of Florida without having to deal with traffic in the Tri-County area, and it will provide additional warehouse space without paying Miami-Dade County rates,” stated Spear.

“With its rapid growth and close proximity to Florida’s largest markets, St. Lucie County stands out as a prime location for industrial development and the perfect location for this user’s expansion in the state,” added Avery Dorr, vice president at Stonemont. “Its growing presence will further strengthen its role as a leader in supply chain and logistics in the region and will allow it prime access to the ports along Florida’s East Coast. This sale is further evidence of our proven track record of developing premier, location-driven projects across the state that can accommodate any type of user.”

South Florida Logistics Center 95 sits in immediate proximity to I-95 and Florida’s Turnpike, allowing users easy access to service Central Florida, the coast and Jacksonville area. Industrial development of this caliber has become difficult to find in Southeast Florida, which has tightened land availability due to high demand for warehouse and distribution space in the market.

According to Colliers’ 2024 Q2 Industrial report, although rental rates declined 2.5%, The Treasure Coast industrial market responded well as leasing activity was up with a total of 207,000 square feet, 50% more than the three-year average. Overall, the market demonstrated resilience posting a positive net absorption of 100,585 square feet.

Stonemont completed South Florida Logistics Center 95 in partnership with the Economic Development Council of St. Lucie County. Additional project partners include Evans Construction as the general contractor, Ware Malcomb as the architect and Engineering Design & Construction, Inc. as the civil engineer.