{"id":1004715438,"date":"2024-05-30T02:56:21","date_gmt":"2024-05-30T10:56:21","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004715438"},"modified":"2024-05-30T02:58:45","modified_gmt":"2024-05-30T10:58:45","slug":"dws-pays-51m-for-savannah-facility","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/dws-pays-51m-for-savannah-facility\/","title":{"rendered":"DWS Pays $51M for Savannah Facility"},"content":{"rendered":"
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\"The
The 413,320-square-foot warehouse is part of a 10 million-square-foot, master-planned industrial park. Image courtesy of JLL<\/em><\/figcaption><\/figure><\/div>\n\n\n

DWS has acquired Rockingham Farms Building 10, a 413,230-square-foot bulk-distribution center in Savannah, Ga., for $50.8 million. JLL negotiated on behalf of the seller, Scannell Properties.<\/p>\n\n\n\n

The building is part of a 10 million-square-foot master-planned industrial campus owned by Scannell. In March, INDUS Realty Trust Inc. partnered with the owner for the development of Rockingham Farms Commerce Center<\/a>, a 1 million-square-foot property within the park.<\/p>\n\n\n\n

Completed last year, Rockingham Farms Building 10 features 36-foot clear heights, 73 dock-high loading doors, two drive-in doors, 100 trailer stalls and 272 car parking spaces. Additionally, the warehouse has rear-loading capabilities, 60-foot speed bays and 185-foot truck courts.<\/p>\n\n\n\n

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READ ALSO:<\/strong> How Logistics Developers Can Surmount Inventory Hurdles<\/a><\/p>\n\n\n\n

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Dile Solutions and DKW Logistics fully occupy the Class A warehouse, according to CommercialEdge information. The triple-net leases have a weighted average lease term of 7 years.<\/p>\n\n\n\n

Located at 101 Feldspar Drive, the building provides access to highways 204 and 17. Major transport hubs within a 20-mile radius include downtown Savannah, Port of Savannah and Savannah\/Hilton Head International Airport.<\/p>\n\n\n\n

The JLL Capital Markets Investment Sales and Advisory team included Senior Managing Directors Britton Burdette, Dennis Mitchell and Matt Wirth, alongside Director Jim Freeman.<\/p>\n\n\n\n

Savannah\u2019s industrial sector remains steady<\/h2>\n\n\n\n

Savannah\u2019s industrial sector remained strong in the first quarter of this year. It recorded its highest first quarter net absorption ever\u2014almost 2.8 million square feet\u2014according to a CBRE report. Despite a decline in completions since the previous quarter, deliveries were up 156.3 percent on a year-over-year basis.<\/p>\n\n\n\n

A significant number of large transactions closed last year, including InLight Real Estate Partners and Black Salmon\u2019s sale of an infill industrial facility for $74.7 million<\/a>. J.P. Morgan Real Estate Income Trust Inc. acquired the 136,240-square-foot asset.<\/p>\n\n\n\n

Another notable deal was EQT Exeter\u2019s purchase of Southeast Gateway<\/a>, a 1.2 million-square-foot business park, for $120.4 million. The McShane Cos. was the previous owner.<\/p>\n","protected":false},"excerpt":{"rendered":"

Scannell Properties sold the fully occupied asset.<\/p>\n","protected":false},"author":3355,"featured_media":1004715440,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21748,21783,21742,32781],"tags":[43859,32796,38446],"class_list":["post-1004715438","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-latest","category-southeast","tag-dws-group","tag-jll","tag-scannell-properties"],"acf":[],"yoast_head":"\nDWS Pays $51M for Savannah Facility - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"DWS has acquired Rockingham Farms Bldg. 10, a 413,230-square-foot facility in Savannah, Ga., from Scannell Properties for $50.8 million.\" \/>\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\/dws-pays-51m-for-savannah-facility\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DWS Pays $51M for Savannah Facility\" \/>\n<meta property=\"og:description\" content=\"DWS has acquired Rockingham Farms Bldg. 10, a 413,230-square-foot facility in Savannah, Ga., from Scannell Properties for $50.8 million.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/dws-pays-51m-for-savannah-facility\/\" \/>\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=\"2024-05-30T10:56:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-30T10:58:45+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/05\/Rockingham-Farms-Building-10-sm.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" \/>\n\t<meta property=\"og:image:height\" content=\"750\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Vicentiu Fusea\" \/>\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\/dws-pays-51m-for-savannah-facility\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/dws-pays-51m-for-savannah-facility\/\",\"name\":\"DWS Pays $51M for Savannah Facility - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dws-pays-51m-for-savannah-facility\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dws-pays-51m-for-savannah-facility\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/05\/Rockingham-Farms-Building-10-sm.jpg\",\"datePublished\":\"2024-05-30T10:56:21+00:00\",\"dateModified\":\"2024-05-30T10:58:45+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6f90c90d1e85956f06679ddabc844412\"},\"description\":\"DWS has acquired Rockingham Farms Bldg. 10, a 413,230-square-foot facility in Savannah, Ga., from Scannell Properties for $50.8 million.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dws-pays-51m-for-savannah-facility\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/dws-pays-51m-for-savannah-facility\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/dws-pays-51m-for-savannah-facility\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/05\/Rockingham-Farms-Building-10-sm.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/05\/Rockingham-Farms-Building-10-sm.jpg\",\"width\":1000,\"height\":750,\"caption\":\"The 413,320-square-foot warehouse is part of a 10 million-square-foot, master-planned industrial park. 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