IDI ACQUIRES LAND FOR WAREHOUSE AND DISTRIBUTION CENTER

FORT PIERCE, FLA. — Atlanta-based IDI has acquired 129 acres of land in Fort Pierce from St. Andrews Episcopal Church for $17 million. IDI will develop the site into Crossroads Business Center, a 1.3 million-square-foot Class A warehouse and distribution space located in Crossroads Park of Commerce near Interstate 95 and the Florida Turnpike. The property will feature buildings ranging from 140,000 to 400,000 square feet. Construction on the first building will begin this summer. Ron Kent of Coldwell Banker Commercial NRT’s Boca Raton, Fla. office was the sole broker.