{"id":1004608119,"date":"2022-10-21T04:04:36","date_gmt":"2022-10-21T12:04:36","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004608119"},"modified":"2022-12-07T13:55:30","modified_gmt":"2022-12-07T21:55:30","slug":"stream-buys-113m-savannah-industrial-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/stream-buys-113m-savannah-industrial-asset\/","title":{"rendered":"Stream Buys $113M Savannah Industrial Asset"},"content":{"rendered":"
\"\"<\/a>

Coastal Commerce Center I. Image courtesy of JLL Capital Markets<\/p><\/div>\n

Stream Realty Partners<\/strong> has acquired Coastal Commerce Center I, a two-building industrial campus totaling 826,250 square feet in Garden City, Ga. A joint venture between AEW Capital Management<\/strong> and Strategic Real Estate Partners<\/strong> sold the fully leased property for $113 million, with the assistance of JLL<\/strong>.<\/p>\n

Completed earlier this year on more than 106 acres, the two warehouses represent the first phase of a larger industrial development. According to CommercialEdge data, Strategic Real Estate financed their construction with a $31.6 million loan, originated by Bank OZK<\/strong>. Coastal Commerce Center II, still under construction, is slated for delivery in 2023.<\/p>\n

\n

READ ALSO:<\/strong> Meridian Group\u2019s Upbeat Take on Industrial<\/a><\/p>\n

\n

Building A is a 462,000-square-foot warehouse with 36-foot clear heights, 120 dock-high doors, 80 trailer parking spaces and 82 car parking spots. The 364,250-square-foot, rear-loading Building B features 32-foot clear heights, 80 dock-high doors, 83 trailer spaces and 240 car parking spots. Building A is leased to Performance Team<\/strong> while Building B is occupied by IDC Logistics<\/strong>.<\/p>\n

Coastal Commerce Center I is at 1516 Old Dean Forest Road, 7.8 miles from downtown Savannah. The property is just north of Interstate 16 which gives it direct access to interstates 95, 516 and Pooler Parkway. Additionally, the facility is 7.2 miles from Garden City Terminal, the largest container terminal in the U.S., and Savannah Hilton Head International Airport. The surrounding area is home to companies such as Amazon, Mitsubishi, Lineage Logistics, UPS and Gulfstream Aerospace.<\/p>\n

The JLL Capital Markets<\/strong> team representing the seller included Senior Managing Directors Britton Burdette, Denis Mitchell and Matt Wirth, alongside Director Mitchell Townsend and Associate Jim Freeman.<\/p>\n

Savannah’s industrial market<\/h2>\n

According to JLL research, Savannah had the lowest industrial vacancy rate in the country, at 0.5 percent, as of the third quarter of 2022. More than 22 million square feet were underway in the metro, a strong pipeline that is able to sustain tenant demand: 47 percent of construction was already pre-leased or in negotiations.<\/p>\n

Earlier this fall, McCraney Property Co. secured $62.8 million in construction financing for the development of the first phase of Logistics 16<\/a> at Ottawa Farms in Bloomingdale, Ga. At full build-out, the entire project will add a total of 4.5 million square feet to Savannah\u2019s industrial inventory.<\/p>\n","protected":false},"excerpt":{"rendered":"

JLL assisted the seller of the fully leased property.<\/p>\n","protected":false},"author":2829,"featured_media":1004608122,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[22251,21748,21783,21742],"tags":[33758,44006,33358],"class_list":["post-1004608119","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in-focus","category-industrial","category-investment","category-latest","tag-aew-capital-management","tag-jll-capital-markets","tag-stream-realty-partners"],"acf":[],"yoast_head":"\nStream Buys $113M Savannah Industrial Asset - CPE<\/title>\n<meta name=\"description\" content=\"Stream Realty Partners acquired Coastal Commerce Center, an 826,250-square-foot recently completed industrial property in Garden City, Ga.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/stream-buys-113m-savannah-industrial-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Stream Buys $113M Savannah Industrial Asset\" \/>\n<meta property=\"og:description\" content=\"Stream Realty Partners acquired Coastal Commerce Center, an 826,250-square-foot recently completed industrial property in Garden City, Ga.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/stream-buys-113m-savannah-industrial-asset\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2022-10-21T12:04:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-07T21:55:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/Coastal-Commerce-Center-Email-e1666347115384.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"847\" \/>\n\t<meta property=\"og:image:height\" content=\"636\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Madalina Pojoga\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/stream-buys-113m-savannah-industrial-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/stream-buys-113m-savannah-industrial-asset\/\",\"name\":\"Stream Buys $113M Savannah Industrial Asset - CPE\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/stream-buys-113m-savannah-industrial-asset\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/stream-buys-113m-savannah-industrial-asset\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/Coastal-Commerce-Center-Email-e1666347115384.jpg\",\"datePublished\":\"2022-10-21T12:04:36+00:00\",\"dateModified\":\"2022-12-07T21:55:30+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/7ced0369df035c845a1e5d647c62dd7a\"},\"description\":\"Stream Realty Partners acquired Coastal Commerce Center, an 826,250-square-foot recently completed industrial property in Garden City, Ga.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/stream-buys-113m-savannah-industrial-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/stream-buys-113m-savannah-industrial-asset\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/stream-buys-113m-savannah-industrial-asset\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/Coastal-Commerce-Center-Email-e1666347115384.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/Coastal-Commerce-Center-Email-e1666347115384.jpg\",\"width\":847,\"height\":636,\"caption\":\"Coastal Commerce Center. Image courtesy of JLL Capital Markets\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/stream-buys-113m-savannah-industrial-asset\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Stream Buys $113M Savannah Industrial Asset\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/7ced0369df035c845a1e5d647c62dd7a\",\"name\":\"Madalina Pojoga\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/MadalinaPojoga_AuthorPhoto.jpg?w=72\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/MadalinaPojoga_AuthorPhoto.jpg?w=72\",\"caption\":\"Madalina Pojoga\"},\"description\":\"Madalina Pojoga is an associate editor with Commercial Property Executive and Multi-Housing News. She joined CPE and MHN in 2022. Madalina is covering the self storage sector on MHN and industrial and medical office building assets for CPE. She has an academic background in film studies and performative arts.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/madalina-pojoga\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Stream Buys $113M Savannah Industrial Asset - CPE","description":"Stream Realty Partners acquired Coastal Commerce Center, an 826,250-square-foot recently completed industrial property in Garden City, Ga.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/stream-buys-113m-savannah-industrial-asset\/","og_locale":"en_US","og_type":"article","og_title":"Stream Buys $113M Savannah Industrial Asset","og_description":"Stream Realty Partners acquired Coastal Commerce Center, an 826,250-square-foot recently completed industrial property in Garden City, Ga.","og_url":"https:\/\/www.commercialsearch.com\/news\/stream-buys-113m-savannah-industrial-asset\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2022-10-21T12:04:36+00:00","article_modified_time":"2022-12-07T21:55:30+00:00","og_image":[{"width":847,"height":636,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/Coastal-Commerce-Center-Email-e1666347115384.jpg","type":"image\/jpeg"}],"author":"Madalina Pojoga","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/stream-buys-113m-savannah-industrial-asset\/","url":"https:\/\/www.commercialsearch.com\/news\/stream-buys-113m-savannah-industrial-asset\/","name":"Stream Buys $113M Savannah Industrial Asset - CPE","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/stream-buys-113m-savannah-industrial-asset\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/stream-buys-113m-savannah-industrial-asset\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/Coastal-Commerce-Center-Email-e1666347115384.jpg","datePublished":"2022-10-21T12:04:36+00:00","dateModified":"2022-12-07T21:55:30+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/7ced0369df035c845a1e5d647c62dd7a"},"description":"Stream Realty Partners acquired Coastal Commerce Center, an 826,250-square-foot recently completed industrial property in Garden City, Ga.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/stream-buys-113m-savannah-industrial-asset\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/stream-buys-113m-savannah-industrial-asset\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/stream-buys-113m-savannah-industrial-asset\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/Coastal-Commerce-Center-Email-e1666347115384.jpg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/Coastal-Commerce-Center-Email-e1666347115384.jpg","width":847,"height":636,"caption":"Coastal Commerce Center. Image courtesy of JLL Capital Markets"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/stream-buys-113m-savannah-industrial-asset\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Stream Buys $113M Savannah Industrial Asset"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/7ced0369df035c845a1e5d647c62dd7a","name":"Madalina Pojoga","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/image\/","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/MadalinaPojoga_AuthorPhoto.jpg?w=72","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/MadalinaPojoga_AuthorPhoto.jpg?w=72","caption":"Madalina Pojoga"},"description":"Madalina Pojoga is an associate editor with Commercial Property Executive and Multi-Housing News. She joined CPE and MHN in 2022. Madalina is covering the self storage sector on MHN and industrial and medical office building assets for CPE. She has an academic background in film studies and performative arts.","url":"https:\/\/www.commercialsearch.com\/news\/author\/madalina-pojoga\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2022\/10\/Coastal-Commerce-Center-Email-e1666347115384.jpg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004608119","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/2829"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004608119"}],"version-history":[{"count":10,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004608119\/revisions"}],"predecessor-version":[{"id":1004608325,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004608119\/revisions\/1004608325"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004608122"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004608119"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004608119"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004608119"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}