$113m sale of two class A distribution facilities in Savannah, Ga., closes

A joint venture between AEW Capital Management and Strategic Real Estate Partners has sold Coastal Commerce Center, two class A distribution facilities totaling 826,250 square feet in Savannah, Ga, for $113 million.

The new owner is Stream Realty Partners.

Coastal Commerce Center comprises two fully leased distribution facilities offering 130-foot to 185-foot truck courts, 204 trailer parking spaces and 398 auto parking spots. Building A is a 462,000-square-foot, cross-dock building with 36-foot clear heights leased by Performance Team, LLC. Building B is a 364,250-square-foot rear-load building with 32-foot clear heights leased by IDC Logistics, Inc.

The property boasts approximately 3,000 linear feet of prime frontage on Interstate 16, with direct access to I-95, I-516 and Pooler Parkway. The buildings provide direct connectivity to Savannah’s Garden City Terminal. Coastal Commerce Center is located at 1514 Old Dean Forest Road, six miles from Garden City T