Acting as the Governmental Finance Corporation, a body which oversees the city’s Southern Grove property, the Port St. Lucie City Council voted unanimously on April 22 to move forward with negotiations on a purchase and sale agreement with the Sansone Group for 300 acres on northeast corner of SW Becker Road and SW Village Parkway.
The city had two competing proposals for the same parcel, selecting the Sansone Group over the Leonardi Capital Group LLC.
The Sansone Group’s proposal consists of approximately 3. 2 million square feet of single- and multi-tenant Class A, institutional quality light industrial and distribution facilities, including of all related infrastructure.
The company 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 would be developed based on market demand and are anticipated to include speculative, build-to-suit, and possibly pad-ready sites.
