Will Matthews Purchases Development Site From Cabot Edewaard For $3.2M In Port St. Lucie
1401 Northwest Commerce Centre Drive
$3,500,000
$12/SF
Building Size
290,980 SF
Asset Type
Development Site
Closing
Jun 1, 2026
AI
A development site located at 1401 Northwest Commerce Centre Drive in Port St. Lucie was sold for $3,200,000. The property boasts a total square footage of 290,980, translating to a price per square foot of $11.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $3,200,000
- Address: 1401 Northwest Commerce Centre Drive
- Market: Port St. Lucie
- Buyer: Will Matthews
- Seller: Cabot Edewaard
- Seller's Representative: Jason Abitbol & Blaise Pronesti - APEX Capital Realty
The transaction involved key individuals including buyer Will Matthews and seller Cabot Edewaard, with Jason Abitbol and Blaise Pronesti representing the seller in this deal through APEX Capital Realty.
Players
Port Saint Lucie Development Site Market Snapshot
Boundary boundary · Development Site · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
4.53%
Cash-on-Cash
-1.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93