Conor Commercial Real Estate is pleased to announce the sale of Southeast Gateway. Located in Savannah, Georgia, the two-building, Class A industrial development incorporates a total of 1.2 million square feet. The property was purchased by EQT Exeter, a Pennsylvania-based real estate investment firm.
“Southeast Gateway marked Conor’s entry into the Savannah industrial market, and we’re thrilled with this successful conclusion to the project,” remarked Brian Quigley, Executive Vice President at Conor. “We’re grateful to our venture partners at William Harris Investors, our listing brokers at Colliers, and the JLL Capital Markets team for their work on this sale transaction. We are confident that the property will prove to be a valuable long-term investment for the buyer.”
Both buildings were leased to full-building users prior to completion of construction. Swiss Madison, a manufacturer of bath products, leased the 184,080-square-foot Building 1 while Maersk Warehousing and Distribution Services, an integrated logistics company, leased the 1,004,400-square-foot Building 2. Both companies are using the facilities to warehouse and distribute products transported through the Port of Savannah.
Positioned on a 137-acre site at 400 and 450 Fort Argyle Road, the Savannah industrial property is just one mile from a four-way interchange at Interstate 95, six miles from Interstate 16, 13 miles from Savannah/Hilton Head International Airport, and 15 miles from the Port of Savannah. This location provides tenants maximum distribution capability to the Southeast and greater United States.
Completed in 2022, Building 1 features a 32′ clear height, 38 dock doors, two drive-in doors, and 50 trailer parking stalls. Building 2 integrates a 40′ clear height, 177 dock doors, four drive-in doors, and 318 trailer parking stalls. Both facilities incorporate natural light, ESFR sprinklers, and ample vehicle parking.
Conor and EQT Exeter were represented in the sale transaction by the JLL Capital Markets Investment Sales and Advisory team led by Britton Burdette, John Huguenard, Jim Freeman, and Max Coffin.