We’ve been told since we were kids how important it is to respond when opportunity knocks. But you really must hand it to wise investors; they listen closely enough to know precisely when to answer, and exactly how wide to open the door.
Hence their success.
I had this thought when listening to the recent presentation by Jill Marasa of Ashley Capital at our BDB Economic Champions Breakfast. Highly accomplished in the economic-development arena, Jill led us through the story of Sunrise Grove and how Rick Morton—principal and co-founder of Ashley Capital, one of the largest privately held real estate investment companies in the country—recognized the property’s potential and timed its purchase.
With facilities in six states totaling more than 30 million square feet in its portfolio, Ashley Capital acquired Sunrise Grove in 2020. The site near the corner of I-95 and Martin Highway in Palm City was once a citrus grove that—like so many across the region—succumbed to greening. Then-owner King Ranch—while researching crop alternatives—repositioned the property to attract targeted industries.
Spanning 1,626 acres, the site is zoned for 5 million square feet of industrial, 1 million square feet of office, 200,000 square feet of retail and 500 hotel rooms. Ashley Capital is expanding its footprint, having acquired an adjacent 200-acre site that encompasses a mile-and-a-half fronting I-95.
Sunrise Grove stands among an elite selection of sites around the county that either already host robust economic activity or brim with the potential to do so. Those include established sites such as Sands Commerce Center, Martin County Airport and the nearby Innovation Hub and the Cleveland Clinic Martin Health South Campus as well as Seven J’s and well-positioned-but-yet-undeveloped sites such as Newfield’s Martin Enterprise Park.
We applaud Ashley Capital’s investment and vision for the property, which will benefit the community overall. In addition to increasing the tax base, the location is ideal to entice targeted industries and will give the local workforce numerous new employment options.
From the businesses that eventually set up at Sunrise Grove to the individuals who launch or advance their careers there, the cascading effect of possibility is immense when a visionary with the experience and means responds to the knock of opportunity.
Thank you, Rick Morton, for making this investment and demonstrating the message we’re proudly sharing far and wide, that when it comes to making great things happen in Martin County, indeed, Now’s The Time.
This article can also be found in the June 11, 2023, Friends and Neighbors of Martin County Newsletter.
