Savannah Gateway 1F and 1H. Picture courtesy of JLL
TerraCap Administration, LLC., has acquired two Class A industrial buildings in Rincon, Ga. Savannah Gateway Industrial Hub 1F and 1H have been bought by Broe Actual Property Group. They whole 1.1 million sq. ft and have been bought for $116 million.
The Savannah Gateway property are within the Savannah Gateway Industrial Hub, a logistics park on greater than 2,600 acres. The buildings are 75 % leased to Lion Model Yarn and Exel Inc. DHL.
In keeping with CommericalEdge information, Constructing 1F is 314,133 sq. ft located on 20.4 acres. The rear-load property has 58 dock-high doorways, 68 trailer areas and 135 auto areas. Constructing 1H is 790,400 sq. ft on 58.8 acres, based on the identical information. The cross-dock facility contains 296 automobile areas, 157 trailer areas and 146 dock-high doorways. Each buildings have been accomplished earlier this 12 months.
The Savannah Gateway includes a 185-foot truck court docket, 60-foot velocity bays, 32 foot to 36 foot clear heights and 53-foot to 54-foot by 50-foot column spacing.
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Situated at 1008 and 1009 Gateway Parkway, the Savannah Gateway is 12.7 miles from the Port of Savannah’s Backyard Metropolis Terminal. The Backyard Metropolis Terminal is the biggest container terminal within the nation.
Tenants have entry to Southeastern markets, corresponding to Charlotte, Orlando, Jacksonville and Atlanta, by means of Interstate 95, I-16 and Freeway 21. The property advantages from dual-rail service from the Norfolk Southern and the CSX.
OmniTRAX, Inc., the Broe Group’s transportation affiliate, partnered with Effingham County Industrial Growth Authority to additional develop the Savannah Gateway Industrial Hub. The CSX and Norfolk Southern rail service are linked to the park through a lately developed OmniTRAX managed rail service.
JLL Capital Markets, led by Senior Managing Administrators Britton Burdette and Dennis Mitchell, together with Affiliate Jim Freeman, represented TerraCap within the deal.
Broe bought one other Savannah Gateway property, 1004 Gateway Parkway, late final 12 months to Walton Avenue Capital. The warehouse is 998,472-square-feet and accomplished building in December 2020. JLL additionally represented Broe within the transaction.
