Wells Investments Acquires 215-Acre Development Site In Fort Pierce For $4M

Colliers International South Florida's Land Services Team, consisting of Sean Old, Mike Millard, and CoBroker Jeff Luther, represented both the buyer and the seller in the recent sale of a development site in Fort Pierce, located at 25th St SW & Emerson Ave. The 215-acre site, owned by Sexton Farms Inc., was sold for approximately $4,000,000 to Wells Investments, led by Jeffery Wells. This transaction signifies the ongoing residential housing expansion in the area, with the site offering potential for over 212 units of single-family home development on half-acre lots.

Summary of Transaction Details

• Property Type: Development Site
• Transaction Amount: $4,000,000
• Market: Fort Pierce
• Address: 25th St SW & Emerson Ave
• Buyer: Wells Investments - Jeffery Wells
• Seller: Sexton Farms Inc. - Randy Sexton
• Brokers: Sean Old, Mike Millard, Jeff Luther - Colliers

With the current growth in St. Lucie County, this property's location provides excellent access to local schools and amenities. Sean Old noted that the area is undergoing further expansion, with the potential for big-box stores on Indrio Road and Emerson Avenue in the coming years. The Treasure Coast region, which includes Martin, St. Lucie, and Indian River counties, has experienced a 17% increase in population since 2010, bringing new employment centers such as Cleveland Clinic, Cheney Brothers, FedEx, and Amazon distribution centers. In Martin County alone, the unemployment rate is at 4%, with over 74,002 team members employed as of August 2021.

For more information or inquiries about this transaction, interested parties can contact Sean Old, the point of contact for investment sales at Colliers International South Florida, via phone at 561-558-6363 or email at [email protected].