FL: Jones Lang LaSalle Announces Florida’s First Dedicated Inland Port / Integrated Logistics Center Development
28 Jun, 2011
Firm to advise on 4,000-acre rail oriented logistics and distribution center in St. Lucie County
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Jones Lang LaSalle today announced that it will be the exclusive project advisor to Treasure Coast Intermodal Campus (TCIC) on its more than 4,000 acre site in southwest St. Lucie County. The Treasure Coast Intermodal Campus will be developed into a major logistics hub over the next 30 to 35 years, with pre-development efforts now in full swing.
“TCIC will create an entirely new industrial model for Florida, ultimately providing a connection to direct on-dock rail service at Florida’s key seaports, along with easy access to all major highways,” said John Carver, who heads Jones Lang LaSalle’s Ports Airports and Global Infrastructure practice. “TCIC is being designed to help Florida compete more effectively for market share as a leading port destination in the Atlantic region.”
“The project will have the scale and vision to create a full service logistics environment and to accommodate a variety of manufacturing uses for which the climate and population of Florida is ideally suited,” continued Carver.
This type of development, which is sometimes referred to as an ‘inland port’, shows a growing trend toward integrating U.S. container seaports with a dedicated distribution cluster where dual rail and roadway access can support a wide range of activities relating to transport, logistics and the distribution of goods within a region of significant consumer demand.
The TCIC inland port is situated in an area of St. Lucie County that has an excellent urban infrastructure and all the support services necessary for a large-scale industrial complex. It is located on Rangeline Road at the Martin County line, and is bounded by agricultural land and Glades Cutoff Road to the west. More importantly, it is served by the Florida East Coast (FEC) Railroad, which is accessed at the northern border of the development.
“This large scale project is being engineered specifically in preparation for the Panama Canal expansion, which also coincides with the emergence of South America as one of the largest exporters in the world,” said Steve Medwin, Managing Director of Jones Lang LaSalle in Miami. “The Third Set of Locks project in Panama, set for completion in 2014, will cause a substantial increase in seaborne cargo passing through Florida waters. This will give the Port of Miami, Port Everglades and the Port of Palm Beach the opportunity to capture increased cargo that can then be transported directly to the new TCIC inland site for later distribution throughout Florida and into the southeast U.S.”
The TCIC plan has passed preliminary market, regulatory, and construction feasibility tests and over the estimated 30 to 35 year development period, the project is expected to create a significant positive fiscal impact for local government and the region's economy, including thousands of direct and indirect jobs.
“We are proud of the concepts that we have created for the Treasure Coast Intermodal Campus,” said Jim Caruso, a representative of the TCIC. “It demonstrates the three basic tenets of sustainable development – providing positive environmental, economic, and societal attributes that will sustain St. Lucie County, the Treasure Coast, and South-Central Florida for generations.”
To benefit the community and the environment, plans include vast areas of open space, setbacks and buffers along the campus’ boundaries, and significant portions of land and water set aside for sustainably designed land conservation. The campus buildings will incorporate “green” building and design techniques such as LEED standard, and the millions of square feet of roof tops will provide an opportunity for alternative energy sources such as solar power.
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a financial and professional services firm specializing in real estate. The firm offers integrated services delivered by expert teams worldwide to clients seeking increased value by owning, occupying or investing in real estate. With 2010 global revenue of more than $2.9 billion, Jones Lang LaSalle serves clients in 60 countries from more than 1,000 locations worldwide, including 185 corporate offices. The firm is an industry leader in property and corporate facility management services, with a portfolio of approximately 1.8 billion square feet worldwide. LaSalle Investment Management, the company’s investment management business, is one of the world’s largest and most diverse in real estate with more than $43 billion of assets under management. For further information, please visit our website, www.joneslanglasalle.com.