MIAMI, Florida—July 23 2020—Sansone Group, represented by Lee & Associates South Florida & Peter Crane of Sansone Group, has executed a contract to acquire 300 acres to develop 3.2 million square feet of Class A light industrial and distribution center space in Port St Lucie on the northwest corner of SW Becker Road and I-95.

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. The agreement was executed on July 13, 2020.

“Sansone Group’s anticipated timing is to master plan the site, close on the land and commence construction in the fourth quarter of 2020, and complete Phase One for occupancy by the third quarter of 2021. The timing for the second and third phases would be dependent on market conditions”, stated Peter Crane, Regional Director of Sansone Group Florida.

“The Port St Lucie market has significant logistical advantages between two of the largest and fastest growing markets in the United States, Miami and Orlando. The location can service the entire State of Florida within a 5 hour drive time. This will be a great project for Sansone Group.”

Sansone Group was founded in 1957 by Anthony F. Sansone, Sr., and is a nationally recognized commercial and industrial real estate development firm based in St. Louis, Missouri with regional offices in Sunrise, Florida and Indianapolis, Indiana. Over its 64-year history, Sansone Group has established an outstanding reputation for developing high quality projects in key markets throughout the United States. This includes development in commercial, industrial and multi-family sectors. Sansone Group’s current industrial pipeline encompasses 44 projects in 13 states which include build to suit and speculative development projects. In addition to its development arm, the company also specializes in property management, facility management and brokerage.