Costco tapped Sansone Group to develop a 595,000-square-foot depot facility at the Legacy Park at Tradition industrial site in Port St. Lucie, Florida, with rights to expand up to 1.9 million square feet.
St. Louis-based Sansone Group and Costco announced the acquisition of 192.5 acres as part of the park’s next phase. Additional details about the land deal were not disclosed.
Legacy Park at Tradition’s development began in 2020 and has seen Sansone Group build out the park with projects that include an Amazon delivery station, FedEx ground sorting facility, and two additional speculative buildings. Plans entail another 250,000-square-foot speculative industrial site as well as a 380,000-square-foot refrigerated facility.
Upon completion, the park will encompass 425 acres, offering up to 3.7 million square feet of industrial and distribution facilities.
Port St. Lucie was selected as a lower-cost alternative to Miami, according to a statement from Sansone Group. Industrial rents in Miami have started to exceed $17 per square foot, according to JLL’s most recent market report released at the end of 2023. In the Treasure Coast area farther north, industrial space can be rented for about $12.35 per square foot, according to CoStar data.
Legacy Park at Tradition is located at SW Anthony F. Sansone Sr. Blvd. and sits near the intersection of Interstate 95 and near the Florida Turnpike. According to a property brochure, CBRE’s Robert Smith, Kirk Nelson and Jeff Kelly oversee leasing at the site.
The new Costco facility will be the eighth project for Sansone Group at Legacy Park, with Jeff Greenwalt, national director for industrial development at Sansone Group, saying in the release that the firm was committed to developing high-quality industrial spaces for “top-tier” employers such as Costco.
