Summit Real Estate Group is pleased to announce that it has closed on a 33.4-acre industrial site northeast of Pensacola in Santa Rosa County within the City of Milton, FL. Acquired on behalf of Summit’s Arrowrock U.S. Industrial Fund V, the development project will be approximately 417,730 SF and represent Phases 2 and 3 of I-10 Coastal Commerce Center.
The site is located along Highway 87, less than one mile from Interstate 10 and within one hour of 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 14 million visitors annually, the market has limited access to Class A industrial facilities.
With their flexible design, Phases 2 and 3 of I-10 Coastal Commerce Center will attract area manufacturing, distribution, and industrial services companies seeking modern space. The development will include three rear-load, multi-tenant warehouses with 32’ clear heights: Phase 2 includes Building 300 (±113,073 SF) and Building 400 (±141,243 SF), and Phase 3 includes Building 500 (±164,200 SF) with future outdoor storage. Summit anticipates starting construction in Q2 2026 and delivering the three buildings in Q2 2027.
Phase 1 of I-10 Coastal Commerce Center, located across the street from Phases 2 and 3, consists of two buildings representing 181,182 SF. Delivered in Q1 2026, Phase 1 is 39% leased, including a full-building build-to-suit for Mondelez International at Building 100 and a lease with LX Pantos for 17,390 SF at Building 200.