On October 9, an EF3 tornado from Hurricane Milton devastated South Florida’s largest warehouse, the 1.1 million-square-foot South Florida Logistics Center 95 in St. Lucie County. The facility, located at Orange Avenue and Kings Highway, was projected to bring nearly 900 jobs to the area.
The warehouse, owned by Stonemont Financial Group, a real estate company based in Atlanta, Georgia, will be demolished for safety reasons. However, the company has not yet determined if they will rebuild.
The newly constructed warehouse was vacant and had never been occupied. Construction on the 1,114,030 sf warehouse was completed in March 2024.
The loss of the 1.1 million SF warehouse brings the total industrial space in St Lucie County down to 25,276,970 SF from 26,391,000 SF. According to a recent report by Colliers, St Lucie County had a 17.8% vacancy rate at the end of Q3 2024. The loss of 1.1 million sf, results in a 370 basis point drop in the St Lucie County vacancy rate, bringing the total vacancy rate to 14.1%.
