Morgan Company and Casto Net Lease Acquire Land for New Grocery-Anchored Shopping Center in Port St. Lucie
Morgan Company, in partnership with Casto Net Lease, announced the acquisition of just over 15 acres of commercial land for a new grocery-anchored shopping center in Port St. Lucie, Florida. The property, ideally positioned to serve the rapidly growing St. Lucie County market, will welcome a dynamic mix of national tenants and neighborhood-serving retailers. Scott Copeland of On Course Development represented the buyers in this transaction.
The new center will be anchored by Aldi, offering high-quality grocery options, and will also include outparcels designated for McDonald’s, Circle K, and AutoZone. Additional outparcel opportunities remain available for sale or lease, providing additional development options for restaurants, services, and neighborhood retail.
Construction is anticipated to begin later this year, with the project scheduled for delivery in 2027. Morgan Company and Casto Net Lease bring decades of experience developing high-quality retail destinations across the Southeast and beyond, leveraging their deep expertise in site selection, tenant relationships, capital structuring, and execution to deliver thoughtfully designed projects that serve their communities and create long-term value.
“We’re excited to partner with Casto Net Lease on this strategically located development,” said Trey Morgan, President of Morgan Company. “We can’t wait to bring a strong lineup of essential service retailers to the Port St. Lucie community. With trusted brands like Aldi, McDonald’s, Circle K, and AutoZone, this center will provide convenient, high-quality shopping and services that residents can rely on every day.”
About Morgan Company
For almost 50 years, Morgan Company has produced quality commercial real estate developments for its principals, clients, and investors, with a track record spanning retail, medical, office, and mixed-use projects across the United States Sunbelt. The firm’s expertise includes strategic land acquisition, development, leasing, and property management.
About Casto Net Lease
Casto Net Lease is a real estate investment, development, and net lease firm specializing in single-tenant retail and commercial outparcel opportunities throughout the United States. With a clear and focused mission rooted in disciplined execution, deep market insight, and exceptional client service, Casto Net Lease structures long-term net lease investments with established, creditworthy tenants. As an affiliated company of the CASTO Organization, an integrated real estate services firm with over a century of experience, Casto Net Lease leverages institutional knowledge, in-house engineering and development capabilities, and committed partnership to deliver resilient, high-performing retail environments and value-driven outcomes for its clients and partners.
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