BTH Development Partners, i3 Interests Break Ground on 560,000-SF Traditions Commerce Park in Port St. Lucie

PORT ST. LUCIE, Fla. — BTH Development Partners and i3 Interests have broken ground on Phase I of Traditions Commerce Park, a fully approved, seven-building industrial development spanning approximately 34 acres in Port St. Lucie's Tradition community. At full buildout, the three-phase project is expected to deliver more than 560,000 square feet of industrial and flex space along Interstate 95 and SW Tom Mackie Boulevard.

Colliers announced the groundbreaking on Aug. 31, 2026. The firm is serving as exclusive leasing and sales brokerage for the development, with Executive Vice Presidents Michael Falk and Scott Weprin and Senior Associates Robert Dabrowski, Anthony Cicio, and Jake Falk leading the assignment. Miller Construction, a statewide privately held construction firm, is serving as general contractor.

Project Details and Phase I Focus

Traditions Commerce Park is located at 12051 SW Tom Mackie Boulevard in Port St. Lucie, Florida 34953. The site totals approximately 34.17 acres and is designed to accommodate distribution, logistics, manufacturing, life sciences, and other commercial users across seven buildings.

Building sizes across the project range from roughly 24,021 square feet to 165,888 square feet. The lineup includes Building 1 at 165,888 square feet, Building 2 at 165,888 square feet, Building 3 at 99,252 square feet, Building 4 at 38,400 square feet, Building 5 at 35,200 square feet, and Buildings 6 and 7 at 24,021 square feet each.

Phase I is specifically designed to address demand for small- and medium-bay industrial space, a segment that the project team describes as being in short supply in the Port St. Lucie market. The development falls within the city's Southern Grove jobs corridor, which was originally envisioned as a 20- to 25-year buildout but is now nearing full buildout after approximately eight years.

"Traditions Commerce Park reflects the strong demand for modern industrial space in Port St. Lucie and throughout the Treasure Coast," said Michael Falk. "This development will provide businesses with high-quality space to grow while supporting continued economic investment and job creation in the Southern Grove jobs corridor."

Developer and Community Context

BTH Development Partners is the project's developer. Bryan Hussey, Founder and Managing Partner of BTH Development Partners, said the development is intended to support long-term investment and job creation in the region.

"As Tradition continues to grow, Traditions Commerce Park will provide the modern industrial space businesses need to succeed," Hussey said. "Phase I marks the beginning of a development that will support long-term investment, job creation, and economic growth in Port St. Lucie."

The Tradition community where the project is situated includes thousands of residential units, major retail destinations, Cleveland Clinic Tradition Hospital, and a growing medical and office corridor. The park's location along Interstate 95 is intended to provide regional logistics connectivity for prospective tenants.

Market Conditions Driving Industrial Demand

Port St. Lucie's industrial market carries a vacancy rate of approximately 11.9%, with asking rents near $13.54 per square foot on a net basis and cap rates around 7.8%. Those figures reflect a market that has more available space than many Florida peers, which helps explain why the Traditions Commerce Park team is positioning the project around smaller-format, flex-oriented product rather than large-format distribution facilities.

At the national level, the U.S. industrial vacancy rate fell to 7.3% in the second quarter of 2026, down seven basis points sequentially, with net absorption reaching 59 million square feet — nearly double year-ago levels — signaling that the sector is stabilizing after a prolonged period of rising vacancy. Colliers reported leasing revenues up 23% in the same period, led by U.S. industrial activity, as part of overall commercial real estate revenues of $997.3 million, up 12% year over year.

The rapid pace of development in Southern Grove — compressing a projected multi-decade buildout into roughly eight years — illustrates the scale of population and employment growth that has reshaped the Treasure Coast's industrial footprint. Traditions Commerce Park is positioned to capture demand from businesses seeking modern, right-sized space in a corridor where land, infrastructure, and interstate access converge.

Leasing and Sales

Colliers holds the exclusive leasing and sales mandate for all phases of Traditions Commerce Park. Michael Falk, Scott Weprin, Robert Dabrowski, Anthony Cicio, and Jake Falk are leading the assignment out of Colliers' West Palm Beach office. Prospective tenants include users in distribution, logistics, manufacturing, and life sciences.

Sources: Colliers — Traditions Commerce Park Groundbreaking Announcement