Jeff Ostrowski
Alexandra Clough
Home > Real Time > Archives > 2008 > February > 15 > Entry
IDI latest big warehouse developer to buy land
Atlanta-based IDI has paid $17 million for 129 acres in Fort Pierce, making it just the latest major industrial developer to buy warehouse land in Palm Beach County and the Treasure Coast.
Used to be the blue-chip industrial developers focused mainly on Miami, Fort Lauderdale and Orlando while ignoring this part of the state. No more.
Warehouse REITs ProLogis, Duke Realty and First Industrial last year bought sites in Palm Beach County for prices as high as $10 a square foot. That makes IDI’s $3 a square foot look cheap in comparison.
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