Ashley Equities, Inc. Acquires Development Site In Palm City For $25M

A development site located at 11335 SW Martin Highway in Martin County, Palm City has been sold for $25,000,000. The 1,717-acre property was purchased by Sunrise Business Park, LLC. The transaction was facilitated by Colliers International South Florida, with representation from their team including Ken Krasnow, Michael Falk, Mike Millard, and Sean Old.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $25,000,000
• Address: 11335 SW Martin Highway, Palm City
• Market: Palm City

The site is strategically located along a 3-mile stretch of I-95 in Martin County, offering excellent exposure for future development. The property, which has gone through years of planning and positioning for approvals with Martin County, is zoned for over 5,000,000 SF of industrial space, 1,000,000 SF of office space, 250,000 SF of retail space, and over 500 hotel rooms. The project is expected to be completed in phases over the next 12-24 months, catering to the growing demand in the booming industrial sector on the Treasure Coast.

According to Neustar's demographic forecast, the area is projected to experience significant household and population growth in the upcoming years. The anticipated household growth is estimated at 18% and the population growth at 19%, resulting in approximately 25,000 new households and a population increase of 68,000.

For more information, please contact Sean Old, Investment Sales, at sean.old@colliers.com or visit their office at 2385 NW Executive Center Dr., Suite 350, Boca Raton, FL 33431. Contact number: 561-558-6363.