Market Place of StuartLocation
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$1.66 billion in retail sales demand for the five-mile radius, which is currently being serviced by a number of older, outdated centers.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.