JLL closes $19.6M sale of Class A distribution building in Savannah
Exeter Property Group acquired the newly constructed industrial facility
CHARLOTTE, N.C., June 3, 2020 – JLL Capital Markets announced today that it has closed the $19.6 million sale of a new, Class A, 281,467-square-foot industrial distribution property in the Savannah-area community of Port Wentworth, Georgia.
JLL represented the buyer, Exeter Property Group, who acquired the property from the seller.
Completed in 2019, the rear-loaded warehouse is situated on 24 acres at 110 Little Hearst Pkwy., which is located within Savannah River International Trade Park, a strategic distribution and logistics location adjacent to the Port of Savannah. The property is less than six miles from both the Port of Savannah, the fastest-growing port in the U.S. and the largest single container terminal in North America, and Savannah/Hilton Head International Airport. Additionally, the property has easy access to Interstates 95 and 16, which provide access to the entire Southeastern United States.
The JLL Capital Markets team was led by Senior Director Patrick Nally; Managing Directors Trent Agnew, Matt Wirth and Britton Burdette; and Senior Managing Directors Dennis Mitchell and Pete Pittroff.
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 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.
For more news, videos and research resources on JLL, please visit the firm’s U.S. media center Web page: U.S. newsroom.
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion, operations in over 80 countries and a global workforce of more than 94,000 as of March 31, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Exeter Property Group
Exeter is a real estate investment management firm specializing in industrial, office and related business park properties through an array of private equity investment vehicles across the Americas, Europe, and Asia. Exeter is among the largest global warehouse landlords, with nearly 250 million square feet of space that we have acquired or developed and now lease and manage from 30 offices across the world.