https://www.bizjournals.com/st…
By Steph Kukuljan – Reporter, St. Louis Business Journal Jan 19, 2021, 3:39pm EST
Commercial real estate firm Sansone Group is planning a 375-acre industrial park in southern Florida, marking the Clayton company’s most recent out-of-town deal.
Sansone Group partnered with Creve Coeur-based Argos Capital Partners to acquire nearly 375 acres of land in Port St. Lucie, Florida, on the Atlantic coast. There, they intend to create Legacy Park at Tradition, a master planned industrial development that will total up to eight buildings and 2.9 million square feet once complete.
Sansone Group’s first project in the park will be a 245,000-square-foot, Class-A industrial distribution center. Construction is slated to start later this year, with delivery of the entire Legacy Park at Tradition to come in 2023, Sansone officials said.
Neither a sales price nor an investment cost were disclosed.
ARCO Murray is the general contractor and architect on the project. Culpepper & Terpening Inc. is the civil engineer on the project.
The Port St. Lucie project is the latest out-of-town deal for Sansone Group. Late last year, the firm partnered with a Brookfield Asset Management-backed fund to acquire 85 acres in New Jersey Turnpike Exit 8A real estate district. Sansone Group also acquired nearly 25 acres in the Salt Lake City area, also with Argos Capital Partners.
