Michael Escalante Of Peakstone Realty Trust Purchases Industrial Property In Fort Pierce For $5.32M

An industrial property located at 3904 Selvitz Road in Fort Pierce, Florida, has been sold for $5,317,500. The property spans 40,000 square feet and features a single-building IOS facility situated on a 3.5-acre site, which is currently leased to Fortiline Waterworks. The price per square foot amounts to $133.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $5,317,500
• Address: 3904 Selvitz Road
• Market: Fort Pierce
• Asset Size: 40,000 square feet
• Price per Square Foot: $133
• Buyer: Michael Escalante - Peakstone Realty Trust
• Seller: Eric M. Levitt - EML Realty Partners; Dan Flamholz - Greenspring Realty Partners

The transaction involved Michael Escalante representing Peakstone Realty Trust, acquiring the property from a partnership of Eric M. Levitt and Dan Flamholz. Notably, the sellers, EML Realty Partners and Greenspring Realty Partners, successfully repositioned the asset, selling it for over $2 million above their 2023 purchase price.