PCCP JV Buys Industrial Campus Near Savannah Port

95 Logistics at Pooler Parkway. Image courtesy of PCCP

PCCP LLC, in a joint venture with NFI Industries, has purchased 95 Logistics at Pooler Parkway, a 565,000-square-foot industrial campus in Pooler, Ga. The two-building asset previously traded in 2020, when the current seller, AXA Real Estate, bought the property for $46.3 million from McCraney Property Co., according to CommercialEdge.

Located at 1030 and 1240 S.H. Morgan Parkway, 95 Logistics at Pooler Parkway features 32-foot clear heights and ESFR sprinkler systems, as well as a total of 104 dock doors, 295 vehicle parking spots and 147 trailer parking spots. The 347,525-square-foot Building I, a build-to-suit project for NFI, is currently used by the company’s third-party logistics business; the 216,964-square-foot Building II, a rear-load facility, is home to GCE International and Store Supply Warehouse.

Completed on 35 acres in 2019, the campus is close to interstates 16 and 95, some 7 miles from Savannah-Hilton Head International Airport, and within 15 miles of Georgia Ports Authority’s Ocean and Garden City terminals.

Port of Savannah, a fast-growing market

Port of Savannah is the fourth-largest container port and has one of the tightest industrial markets in the U.S., PCCP Managing Director Ryan Dodge said in prepared remarks. With a 31 percent growth during the past five years, Georgia Ports Authority decided to expand the Port of Savannah by 210,000 TEUs in 2021, planning to add another 3.5 million TEUs by the end of 2025.

And the area is brimming with industrial development. Earlier in February, EJF Capita and North Signal Capital obtained $75 million in financing for the construction of three Class A warehouses, that will total 1.3 million square feet, less than 10 miles from Port of Savannah.

Investors are also targeting this high-growth market. In a recent deal, Stream Realty Partners purchased a two-building industrial campus in Garden City, Ga., for $113 million.