Market Place of Stuart
BlueGate Partners, LLC
(“BlueGate”) has been retained by the owner (the “Owner”) regarding
its sale of the fee simple interest in the Market Place of Stuart Retail Development
Parcel located on the west side of U.S. Highway 1 at the western terminus of SE
Miami Avenue in the City of Stuart, FL (the “Site”). The Site totals approximately 22.77 acres and
has approximately 950 linear feet (“lf”) of frontage along U.S. Highway 1. The
Site is centrally located in a major retail destination that is anchored by
national retailers which include Lowe’s adjacent to the north, and a Walmart
Super Center and recently approved Aldi anchored retail center to the east. The
Property is strongly influenced by the high income residential neighborhoods to
the east, south and west with the strongest economic demographics within a two
mile radius. Additionally, Downtown Stuart and Interstate 95 (at exit 101) are
both within approximately four miles of the Property. According to Claritas
there is over $8.25 million in retail sales demand for the one-mile radius and
over $1.66 billion in retail sales demand for the five-mile radius, which is
currently being serviced by a number of older, outdated centers. The Site is
currently zoned Commercial Planned Unit Development by the City of Stuart,
which allows up to 152,300 sf of retail development including as many as five
outparcels. These in-place approvals will
dramatically shorten the timeline for any investor pursing a development deal
in Stuart and Martin County.