Stonemont Financial Group has sold a 245,511-square-foot warehouse at South Florida Logistics Center 95 in Fort Pierce. The sale for $32,653,000 reflects $133 per sf. The newly constructed building was completed in 2024 and has never been occupied.
The property is located at the southwest corner of South Kings Highway and Orange Avenue. The warehouse has 32-foot clear ceiling heights, 40 dock doors, and 60-foot speed bays. Chris Spear of ComReal represented the buyer, and Sky Groden of JLL represented Stonemont in the transaction.
This building is adjacent to the 1.1 million SF warehouse destroyed by a tornado caused by Hurricane Milion on Oct 9, 2024. Stonemont Financial Group plans to demolish the remainder of the building and has not yet decided on rebuilding. The loss of the structure dropped the overall vacancy rate from approximately 17% to 14%. The 17% vacancy figure is from a recent publication from Colliers for Q3, 2024.
