REAL ESTATE
TCBusiness.com 5
tional Airport and Kings Highway, where
37 acres recently sold for $5.2 million in a
deal brokered by Coldwell Banker Commercial
Paradise.
SLOW START IN THE ’80S
Lifelong St. Lucie County resident Hoyt
C. Murphy Jr., a Realtor with the firm,
said the promise of an industrial land
boom is not new. It’s been around since
the late 1980s when I-95 was completed
from Miami to the Georgia state line. The
completion of the interstate along with
the confluence of it and Florida’s Turnpike
in Fort Pierce made the area logistically
alluring to industrial developers.
When his firm did the site sale for the
Walmart Distribution Center on Jenkins
Road in Fort Pierce nearly two decades
ago, Murphy said he figured that a wave
of similar sales was in the offing, but that
didn’t happen.
“Then, in the past three years, it’s gone
crazy,” Murphy said. “… well over 10 million
square feet of industrial facilities are
under construction or in the permitting
process” in St. Lucie County.
The $5.2-million sale Murphy’s firm brokered
was at an average of $140,000 an
acre. Five years ago, a generous estimate >>
CITY OF PORT ST. LUCIE
One of the major companies at Legacy Park is FedEx. The company’s distribution center is shown under
construction in October 2021. Amazon is at Legacy, too. Legacy Park developer Sansone Group said it is
a two-hour drive from 8 million people and a four-hour drive from 20 million people.
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