Bulk-distribution center trades for $50.75M in Savannah, Georgia

ATLANTA, May 29, 2024 – JLL Capital Markets announced today that it arranged the $50.75 million sale of Rockingham Farms Bldg. 10, a newly constructed, bulk-distribution center totaling 413,230 square feet in Savannah, Georgia.

JLL represented the seller, Scannell Properties, and procured the buyer, DWS.

The Class A, newly constructed property is fully leased to two tenants. Key building features include 36-foot clear heights, two drive-in doors, 73 dock doors, a 185-foot truck court, 100 trailer and 272 car parking spaces and rear-loading capabilities.

Rockingham Farms Bldg. 10 is located at 101 Feldspar Dr. It is situated in an infill location just 8.25 miles from the Port of Savannah’s booming Garden City terminal, and sits within Rockingham Farms Logistics Park, a brand-new, state-of-the-art, Class A industrial park. It has an exceptional southside location with unparalleled direct access and commercial frontage to Veteran’s Pkwy and is less than 10 miles from Savannah’s major corridors, which includes I-516 (2.5 miles), I-16 (4.7 miles) and I-95 (8.2 miles).

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

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.

For more news, videos and research resources, please visit JLL’s newsroom.

Scannell Properties is a privately held real estate development and investment company that focuses on build-to-suit and speculative development of industrial, office and multifamily facilities throughout the U.S., Canada and Europe. Since inception in 1990, Scannell Properties has completed more than 550 development projects totaling 158 million SF. For more information, visit scannellproperties.com.

DWS Group (DWS) with EUR 941bn of assets under management (as of 31 March 2024) aspires to be one of the world's leading asset managers. Building on more than 60 years of experience, it has a reputation for excellence in Germany, Europe, the Americas, and Asia. DWS is recognized by clients globally as a trusted source for integrated investment solutions, stability, and innovation across a full spectrum of investment disciplines.

DWS offers individuals and institutions access to its strong investment capabilities across all major liquid and illiquid asset classes as well as solutions aligned to growth trends. Its diverse expertise in Active, Passive and Alternatives asset management complement each other when creating targeted solutions for its clients. DWS’ expertise and on-the-ground knowledge of its economists, research analysts and investment professionals are brought together in one consistent global CIO View, giving strategic guidance to its investment approach.

DWS wants to innovate and shape the future of investing. DWS understands that, both as a corporate as well as a trusted advisor to its clients, they have a crucial role in helping navigate the transition to a more sustainable future. With approximately 4,600 employees in offices all over the world, DWS is local while being one global team. DWS is committed to acting on behalf of its clients and investing with their best interests at heart so that they can reach their financial goals, no matter what the future holds. With its entrepreneurial, collaborative spirit, DWS works every day to deliver outstanding investment results, in both good and challenging times, to build the best foundation for our clients’ financial future.

As part of the Alternatives business, DWS’s real estate investment business is one of the largest real estate investment managers globally with more than 350 professionals and staff located in nearly 25 cities worldwide and approximately $83.9 billion in real estate and real estate-related assets under management as of December 31, 2023.