Tambone secures two more Purchase and Sale Agreements for
Tradition Center for Commerce in Port St. Lucie
Port St. Lucie, Fla –Tambone Companies, serving as the City of Port St. Lucie’s master developer to market 84 acres of land within Tradition Center for Commerce, is pleased to announce two new land Purchase and Sale Agreements. With the goal of spearheading economic development in the area, Tambone and the city are in the process of negotiating numerous other land contracts.
On September 28, 2020, the City of Port St. Lucie’s Governmental Finance Corporation unanimously approved the two agreements. The first agreement, with Dr. Jai P. Singh and Krishna Singh, is for development of up to 39,000 square feet of retail/medical on 3 acres along the southeast corner of SW Village Parkway and SW Discovery Way. The anticipated closing date is November 2020. The Singhs are real estate investors with property holdings along the Treasure Coast totaling over 78,000 square feet of commercial space amongst four properties.
The second agreement is with DI Development, LLC, for development and construction of a 122-room hotel on 2.6 acres also located on the southeast corner of SW Village Parkway and SW Discovery Way. The anticipated closing date is first quarter 2021. DI Development, LLC is a national hotel developer with 16 years of experience as well as 20 years of construction experience through DI Construction, LLC. DI Construction is an industry leader in the building and renovation of quality hotels for owners and developers of nationally recognized brands throughout the US.
“To have secured these two additional purchase and sale agreements for retail and hotel during these challenging times is further testament to the growth potential of Tradition Center of Commerce. This area is continuing to garner attention from national development entities and we are excited to be a part of it,” said Richard P. Tambone, President of Tambone.
The Tradition Center for Commerce will provide development options within Tradition with over 10 million square feet of office, industrial, warehouse, multi-family residential and retail space. Potential uses include: manufacturing; distribution; retail; education; hospitality, warehousing; corporate; medical; research and development and multi-family residential.
For more information or for inquiries about purchase please contact Richard P. Tambone of Tambone Companies/Tambone at Tradition at 561-660-5166, visit tambonetradition.com or follow them on Facebook.