Summit Real Estate Group is pleased to announce that it has closed on a 12.7-acre industrial site northeast of Pensacola in Santa Rosa County within the City of Milton, FL. Acquired on behalf of Summit’s Arrowrock US Industrial Fund IV, the development project will be known as I-10 Coastal Commerce Center and include two buildings representing approximately 181,170 square feet.
The site is a part of Santa Rosa County’s 88-acre Northwest Florida Industrial Park @ I-10 along Highway 87, less than one mile from Interstate 10, and within one-hour from Interstate 65. As the region’s primary east-west connector, the I-10 corridor plays a pivotal role in Northwest Florida’s rapidly growing economy. Despite the area’s vibrant industries—ranging from military and defense to aerospace, cybersecurity, building supply, food and beverage, and tourism, which attracts over 16 million visitors annually— the market lacks access to Class A industrial facilities. The I-10 Coastal Commerce Center will be the first Class A speculative development in this region, addressing this need.
With its flexible design, I-10 Coastal Commerce Center will attract area manufacturing, distribution, and industrial services companies seeking modern space. At approximately 53,600 square feet, Building 100 will be a rear-load, multi-tenant warehouse with 32’ clear heights and a 130’ truck court. At approximately 127,570 square feet, Building 200 will be a rear-load, multi-tenant warehouse with 32’ clear heights with space available for trailer parking. Summit anticipates starting construction Q1 2025 and delivering the two buildings Q4 2025.