INDRIO RD Saint Lucie County FL 34945-4004

Colliers International South Florida is pleased to offer the opportunity to acquire a 100% fee simple interest in SFI Palm Tree Farm, an assemblage of 524.18-acres improved with marketable tree inventory in Fort Pierce, St. Lucie County, Florida. The offering is northwest the city of Fort Pierce, which is located in northern St. Lucie County, roughly sixty miles north of West Palm Beach and 45 miles south of Melbourne.

The offering consists of seventeen separate parcels totaling 524.18 acres of land situated along Seminole Road between Emerson Avenue to the west. Access is provided by Indrio Road to the north, Kings Highway to the east and Immokalee Road to the south. Improvements to the neighborhood include a $32 million transportation upgrade as Indrio Road is being widened to four lanes from Emerson Avenue to Interstate 95, and a new traffic signal is planned at the intersection of Indrio Road and Emerson Avenue. In addition, project includes building medians, turning lanes, sidewalks, shoulders and bike lanes on both sides of Indrio Road.

SFI Palm Tree Farm is zoned AG-1 Agricultural and has a future land use designation of Towns, Villages and the Countryside (TVC). While the current zoning provides a density of one unit per acre (indicating potential development of 524 sites), the location inside the Urban Services Boundary and future land use of TVC provides the ability to increase density to six units per acre (or 3,144 sites).

Property Description

As with most agricultural land in the neighborhood, the subject’s 524.18 acres is an assemblage of seventeen parcels that are mostly irregular in shape and not 100% contiguous (please refer to map and table below for details). Overall, the assemblage has adequate frontage on three secondary roads that include Seminole Road, Emerson Avenue and Immokalee Road. The sites benefit from develop-able topography as they are at street grade, generally level, and have adequate shape and size. In addition, the sites are adequately served by road infrastructure and utilities to be developed in phases. Currently, the land is improved with an inventory of more than 29,400 various palm trees that are marketable to landscape suppliers. Please refer to chart for review of retail prices for most of the SFI Palm Tree Farm’s inventory.

524.18 acres improved with more than 29,000 trees including:

• 12,700 Sylvestris Palm trees

• 7,500 Canariensis Palm trees

• 7,000 Edible Palm/Medjool and Edible Date Palm trees

• 2,200 Queen Palm trees

• Current Agricultural (AG-1) zoning allows for density of one unit per acre (or 524 homes).

• Ability to increase density to six units per acre as designated for future residential and commercial growth within St. Lucie County.

• The sites are at street grade, generally level, and are of adequate shape and size for development.

• The sites are adequately served by sufficient transportation access and utilities.

• Neighborhood improvements include Indrio Road being widened to four lanes from Emerson Avenue to Interstate 95 as a new traffic signal is planned at the intersection of Indrio Road and Emerson Avenue. The $32 million project includes building medians, turning lanes, sidewalks, shoulders and bike lanes on both sides of the road.