JLL Capital Markets arranges sale of new bulk distribution center in Savannah

Invesco Real Estate acquires new bulk distribution center from Stonemont Financial Group and The Davis Companies

JLL Capital Markets announced today that it has closed the sale of Georgia International Trade Center – Building 2B, a new, Class A bulk distribution center in the Savannah-area community of Rincon, Georgia.

JLL Capital Markets marketed the property on behalf of the seller, a joint venture between Stonemont Financial Group and The Davis Companies. Invesco Real Estate, a global real estate investment manager, purchased the asset.

Developed by the seller, the 1.1 million square foot cross-dock building is situated on 76.6 acres at 2008 Trade Center Blvd. within the broader, fully occupied Georgia International Trade Center, one of the most successful speculative industrial developments in the market having completed 2.42 million square feet of new projects in just 24 months with another 1.83 million square feet currently under construction.

The Port of Savannah is the single-largest and fastest-growing container terminal in America, and Georgia International Trade Center – Building 2B is less than 10 miles from its Garden City terminal. Additionally, the property is proximate to the most extensive network of transportation thoroughfares in the country, including Interstates 16 and 95, and enjoys uninterrupted access to every major destination east of the Mississippi via two Class I railroads.

The JLL Capital Markets team representing the seller was led by Managing Directors Britton Burdette, Patrick Nally, Matt Wirth and Senior Managing Director Dennis Mitchell.

“The competitive pricing achieved for this offering, along with the deep pool of high-quality buyers who pursued the asset, signifies a true turning point for the Savannah Industrial market,” Burdette said. “The high demand was driven by the incredible performance and massive projected growth of the market which is fueled by the booming Savannah port.”

“We’re excited to announce such a market-moving trade for Savannah and would like to thank the Stonemont, Davis Companies and Invesco Real Estate deal teams for a successful transaction,” Nally added.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

Show More

Related Articles

Back to top button