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Sign in Sign up for a FREE subscriptionTerraCap acquires two class A industrial buildings near Savannah for $116m
Broe Real Estate Group has closed the $116 million sale of Savannah Gateway 1F & 1H (Savannah Gateway), two class A industrial buildings totaling 1.1 million square feet in Rincon, Ga.
The new owner is TerraCap Management.
Completed earlier this year, the buildings are 75 percent leased to two tenants, Lion Brand Yarn and Exel Inc. (d.b.a.). The buildings are part of the Savannah Gateway Industrial Hub, a 2,600-plus acre master-planned industrial park that is expected to total over 18 million square feet of industrial space once completed.
Located at 1008 and 1009 Gateway Parkway, Savannah Gateway is 12.7 miles from the Port of Savannah’s Garden City Terminal and minutes from Interstates 95 and 16 and Highway 21. As a result, tenants can reach major Southeastern markets, such as Atlanta, Charlotte, N.C., Orlando and Jacksonville, Fla. in under four hours. Furthermore, the property is dual rail-served by both CSX and Norfolk Southern.
Savannah Gatew
