News release

New bulk distribution center in growing Savannah market sells

JLL Capital Markets closed the sale of the fully leased, dual rail-served property within Savannah Gateway Industrial Hub’s 20M-SF development

December 06, 2021

Kimberly Steele

Capital Markets, Agency Leasing and Valuation Advisory PR
+1 713 852 3420

ATLANTA, Dec. 6, 2021 – JLL Capital Markets announced today that it has closed the sale of a new, fully leased, 998,472-square-foot, Class A, dual rail-served bulk distribution center near the Port of Savannah and within Savannah Gateway Industrial Hub’s 20-million-square-foot development in Effingham County, Georgia. 

JLL marketed the property on behalf of the seller, Broe Real Estate Group, an affiliate of The Broe Group, which has operated for over 45 years and owns over 10 million square feet totaling more than $1 billion assets under management. An affiliate of Walton Street Capital, LLC acquired the asset.

1004 Gateway Pkwy. is within the multi-modal Savannah Gateway Industrial Hub, which is a more than 2,600-acre master-planned industrial park. Completed in 2020, 1004 Gateway Pkwy. is triple net leased to two tenants, Quantix, formerly A&R Logistics, Inc., and Bissell Homecare, Inc. The building is served by OmniTRAX, with connectivity to both CSX and Norfolk Southern, and also features a 36-foot clear height, cross dock loading and direct rail-access.

This location is 12 miles from the Port of Savannah, Garden City Terminal via Georgia 21 with proximity to Interstate 95, the industrial backbone of the eastern seaboard, and provides easy access to the Georgia Ports Authority’s Garden City Terminal. The Port of Savannah is the single-largest and fastest-growing container terminal in the country, and the Savannah MSA is currently undergoing multiple infrastructure projects, including construction of the Effingham Parkway to service this rapidly expanding supply chain hub.

The JLL Capital Markets Investment Sales and Advisory team that represented the seller was led by Britton Burdette, Dennis Mitchell, Matt Wirth and Jim Freeman.

“Our team saw intense demand for this core industrial offering, which speaks to the strength of the Savannah market and the large amount of investor requirements to deploy capital into this dynamic market,” Burdette said. “The massive growth of the port, limited supply, ultra-low vacancy, significant market rent growth and record volume of tenant requirements have all contributed to making Savannah one of the best industrial markets in the country to invest in.”

JLL’s Capital Markets team leading the financing efforts included Bobby Norwood and Mark Sixour.

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 and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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About JLL

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 $16.6 billion in 2020, operations in over 80 countries and a global workforce of more than 95,000 as of September 30, 2021. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.

About Broe Real Estate Group

Broe Real Estate Group, The Broe Group’s real estate affiliate, owns and manages a multi-billion-dollar commercial real estate portfolio. The portfolio includes investments in the office, multifamily, industrial, retail, and land sectors. The fully integrated operating platform, which provides comprehensive solutions to enhance value and generate market-leading, risk-adjusted returns for owners and investors, includes acquisitions, construction management, asset management, leasing and property management capabilities as well as investment partnership opportunities.

About Walton Street Capital

Walton Street Capital, L.L.C. is a private equity real estate investment firm. Since its founding in 1994, affiliates of Walton Street Capital have received total equity and loan commitments of approximately $14 billion from public and corporate pension plans, foreign institutions, insurance companies and banks, endowments and foundations, trusts, and high net worth individuals. Affiliates of Walton Street Capital have invested and/or committed to invest over $12 billion of equity in more than 500 separate transactions.