JBL Asset Management recently completed the acquisition of a 5-lot assemblage measuring 12.71 acres in the Crossroads Commerce Park.
The company plans a ground up development of a multitenant industrial facility measuring approximately 200,000 and is beginning preconstruction leasing efforts for delivery in late 2022. Located at the Northmost interchange between Interstate 95 and Florida’s Turnpike, the property boasts connections to Orlando, Fort Myers, and Miami within two hours, as well as a direct visual connection to vehicular traffic on the well-traveled I95 corridor.
Fort Pierce is positioned at the forefront of this booming asset class due to the area’s strong fundamentals. Established blue chip firms such as Pepsi and Walmart have long maintained a local presence, and the distribution infrastructure is recently rumored to have lured a large ecommerce retailer to establish a major distribution facility. The potent combination of a well-educated workforce, expanding local economy, and quick access to Florida’s largest markets combine to make Fort Pierce the epicenter of South Florida’s booming industrial development community.
JBL Asset Management is a fully integrated commercial real estate investment firm specializing in the acquisition, development and management of commercial properties in major markets across the country. JBL’s current portfolio spans over 2.6M square feet and is diversified into retail, multifamily, and industrial properties. JBL’s development portfolio includes 1,000 multifamily units in various stages of development and 500,000+ sf of ground up commercial product.
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