Jones Lang LaSalle Incorporated : New construction distribution facility trades in Savannah

ATLANTA, Nov. 29, 2023 - JLL Capital Markets announced today that it arranged the sale of Coastal Commerce Center II, a newly completed, Class A distribution facility totaling 314,288 square feet in Savannah, Georgia.

JLL represented the seller, Strategic Real Estate Partners and AEW Capital Management, and procured the buyer, L&B Realty Advisors, LLP on behalf of a separate account client.

Coastal Commerce Center is an infill, state-of-the-art, multi-tenant distribution facility located at 5214 Old Louisville Rd. Key features include rear-load capabilities with a 185-foot concrete truck court, 63 dock-high doors, two drive-in doors, 36-foot clear heights, 171 car parking spaces and 76 trailer parking spaces. The property was 53% leased at the time of sale.

Savannah's industrial market fundamentals are among the best in the country, driven by the port's record high cargo volumes, future expansion projects, and its direct connectivity to a network of logistical nodes. Savannah is recognized as one of the most important transportation and logistics hubs in North America due to its connectivity to a network of sea, rail, air and road operations.

The JLL Capital Markets Investment Sales team was led by Senior Managing Directors Britton Burdette, Dennis Mitchell and Matt Wirth and Directors Jim Freeman and Mitchell Townsend.

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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