Colliers South Florida represented the landlords and tenant in the lease transaction
As the convergence of favorable economic conditions and a flourishing workforce surge industrial demand on the Treasure Coast, Colliers is pleased to announce Heritage Flooring signed a long-term lease for 30,890 square feet at Interstate Commerce Center in Fort Pierce, FL. Colliers Executive Vice President Michael Falk and Associate Jonathan Temple represented the landlords, JBL Asset Management and Avenue Property Group, and the tenant, Heritage Flooring, in the deal. Recently finalized in late 2023, the Class A distribution warehouse is located at 3800 Crossroads Parkway in the center of Saint Lucie County.
“We’re thrilled to welcome Heritage Flooring as they settle into their new facility at Interstate Commerce Center. With a growing residential landscape and excellent visibility from I-95, the property serves as an exceptional distribution hub,” said Falk. “With national tenants, Town & Country Industries and Next Plumbing Supply, already occupying space in the building, Heritage’s presence reinforces our confidence in the prime location’s ability to attract more building supply firms as we near full occupancy.”
Strategically positioned at the full interchange of I95 and Florida’s Turnpike, this top-tier facility offers unparalleled branding opportunities and significantly reduced transit times. The building caters specifically to mid-sized tenants, offering a unique advantage as the sole Class A property in the market able to meet their needs. With only 106,000 square feet remaining for lease, this 211,547-square-foot property stands tall with 32′ clear heights, a 60′ speed bay, and over 60 dock-high loading bays, including several at-grade ramps.
The new tenant, Heritage Flooring, is a trusted name in the industry, providing top-notch design and installation services for flooring and complimentary products in Florida. With a rich history spanning over 40 years, the company has catered to residential builders across the eastern and western coasts of Florida. In 2019, it was acquired by Artisan Design Group, a nationally recognized provider of design, procurement, and installation services for interior finishes.
JBL Asset Management is a privately held, fully integrated commercial real estate services company founded in 2005 by Jacob Khotoveli. The company invests private capital in major metropolitan areas throughout the Eastern United States. JBL’s portfolio exceeds 4.3 million square feet of real estate, diversified across retail, multifamily, and industrial asset classes.
Avenue Property Group is a boutique real estate investment company founded in 2010 by Daniel Gohari. The company specializes in identifying industrial/commercial assets and executing opportunistic strategies to maximize value. The company’s investment strategy primarily targets Florida and New York, as well as other major markets across the United States, with their extensive industry knowledge. Avenue Property Group owns and is partnered with over three million square feet of real estate.
