{"id":1004747011,"date":"2025-02-14T04:29:13","date_gmt":"2025-02-14T12:29:13","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004747011"},"modified":"2025-02-14T04:36:33","modified_gmt":"2025-02-14T12:36:33","slug":"lba-pays-46m-for-savannah-industrial-asset","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/lba-pays-46m-for-savannah-industrial-asset\/","title":{"rendered":"LBA Pays $46M for Savannah Industrial Asset"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"alignright size-full is-resized\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/50-Innovation-Drive_Image-e1739444282508.jpeg\"><img loading=\"lazy\" decoding=\"async\" width=\"1017\" height=\"762\" data-attachment-id=\"1004747034\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/lba-pays-46m-for-savannah-industrial-asset\/50-innovation-drive_image\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/50-Innovation-Drive_Image-e1739444282508.jpeg\" data-orig-size=\"1017,762\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;1&quot;}\" data-image-title=\"50 Innovation Drive_Image\" data-image-description=\"\" data-image-caption=\"&lt;p&gt;Exterior shot of 50 Innovation Drive, an industrial building in Port Wentworth, Ga. Image courtesy of JLL&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/50-Innovation-Drive_Image-e1739444282508.jpeg?w=1017\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/50-Innovation-Drive_Image-e1739444282508.jpeg\" alt=\"Exterior shot of 50 Innovation Drive, an industrial building in Port Wentworth, Ga.\" class=\"wp-image-1004747034\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/50-Innovation-Drive_Image-e1739444282508.jpeg 1017w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/50-Innovation-Drive_Image-e1739444282508.jpeg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/50-Innovation-Drive_Image-e1739444282508.jpeg?resize=768,575 768w\" sizes=\"auto, (max-width: 1017px) 100vw, 1017px\" \/><\/a><figcaption class=\"wp-element-caption\">The industrial facility at 50 Innovation Drive is a former Lowe&#8217;s distribution center. <em>Image courtesy of JLL<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>LBA Logistics has purchased a 491,329-square-foot Class A industrial building in Port Wentworth, Ga., within metro Savannah. Lowe&#8217;s sold the asset for $46 million, according to CommercialEdge data. JLL represented the seller, which was also the former tenant.<\/p>\n\n\n\n<p>The home improvement retailer had picked up the property in 2006 for $20 million, the same source shows.<\/p>\n\n\n\n<p>The cross-dock facility has 32-foot clear heights, 106 dock-high doors, ESFR sprinkler systems,149 trailer parking spaces and 126 vehicle parking spots. At the time of the sale, the building was vacant.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide\" style=\"background-color:#d2d2d2;color:#d2d2d2\"\/>\n\n\n\n<p><strong>READ ALSO:<\/strong> <a href=\"https:\/\/www.commercialsearch.com\/news\/whats-next-for-industrial-real-estate\/\">Industrial Real Estate&#8217;s Future Depends on Adaptability<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-text-color has-alpha-channel-opacity has-background is-style-wide\" style=\"background-color:#d2d2d2;color:#d2d2d2\"\/>\n\n\n\n<p>The single-story facility is at 50 Innovation Drive, near interstates 95 and 16, providing easy access through the Savannah-Hilton Head area.\u00a0Additionally, Savannah\/Hilton Head International Airport is 4 miles from the property, while Georgia Port Authority\u2019s Garden City Terminal is roughly 6 miles away and downtown Savannah is within 12 miles.<\/p>\n\n\n\n<p>JLL Senior Managing Directors Britton Burdette and Dennis Mitchell, Director Jim Freeman, together with Executive Managing Directors Bob Currie and Tim McCarthy, negotiated on behalf of the seller.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-port-of-savannah-attracts-industrial-investment\">Port of Savannah attracts industrial investment<\/h2>\n\n\n\n<p>Investors traded $455 million in industrial assets across the Savannah-Hilton Head market last year, according to CommercialEdge information. The Port of Savannah is one of the fastest growing in the nation, so demand for high quality space is strong. Of the 11 assets that changed hands in 2024, nine were Class A.<\/p>\n\n\n\n<p>In November last year, <a href=\"https:\/\/www.commercialsearch.com\/news\/goldman-sachs-pays-101m-for-savannah-industrial-property\/\">Goldman Sachs Alternatives paid $100.6 million<\/a> for a 942,210-square-foot facility. Scannell Properties sold the building, which is part of Rockingham Farms Logistics Park. <\/p>\n\n\n\n<p>Transwestern Investment Group also made a big purchase in the metro in the second half of last year. It <a href=\"https:\/\/www.commercialsearch.com\/news\/transwestern-acquires-1-2-msf-distribution-center\/\">acquired Interstate West\u2019s Building C<\/a>, a 1.2 million-square-foot distribution facility in Ellabell, Ga. The seller was VanTrust Real Estate, which also <a href=\"https:\/\/www.commercialsearch.com\/news\/vantrust-sells-industrial-facility-near-savannah\/\">sold Building A of that same industrial park<\/a>, to Goldrich Kest.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lowe&#8217;s sold the property in a deal arranged by JLL.<\/p>\n","protected":false},"author":2991,"featured_media":1004747034,"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":[44981,37933],"class_list":["post-1004747011","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-industrial","category-investment","category-latest","category-southeast","tag-lba-logistics","tag-lba-realty"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>LBA Pays $46M for Savannah Industrial Asset - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"LBA Logistics purchased a 491,329-square-foot Class A industrial building in Port Wentworth, Ga., within metro Savannah.\" \/>\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\/lba-pays-46m-for-savannah-industrial-asset\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"LBA Pays $46M for Savannah Industrial Asset\" \/>\n<meta property=\"og:description\" content=\"LBA Logistics purchased a 491,329-square-foot Class A industrial building in Port Wentworth, Ga., within metro Savannah.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/lba-pays-46m-for-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=\"2025-02-14T12:29:13+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-14T12:36:33+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/50-Innovation-Drive_Image-e1739444282508.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1017\" \/>\n\t<meta property=\"og:image:height\" content=\"762\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Simona Tudose\" \/>\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\/lba-pays-46m-for-savannah-industrial-asset\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/lba-pays-46m-for-savannah-industrial-asset\/\",\"name\":\"LBA Pays $46M for Savannah Industrial Asset - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lba-pays-46m-for-savannah-industrial-asset\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lba-pays-46m-for-savannah-industrial-asset\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/50-Innovation-Drive_Image-e1739444282508.jpeg\",\"datePublished\":\"2025-02-14T12:29:13+00:00\",\"dateModified\":\"2025-02-14T12:36:33+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4\"},\"description\":\"LBA Logistics purchased a 491,329-square-foot Class A industrial building in Port Wentworth, Ga., within metro Savannah.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lba-pays-46m-for-savannah-industrial-asset\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/lba-pays-46m-for-savannah-industrial-asset\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lba-pays-46m-for-savannah-industrial-asset\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/50-Innovation-Drive_Image-e1739444282508.jpeg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/50-Innovation-Drive_Image-e1739444282508.jpeg\",\"width\":1017,\"height\":762,\"caption\":\"Exterior shot of 50 Innovation Drive, an industrial building in Port Wentworth, Ga. Image courtesy of JLL\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/lba-pays-46m-for-savannah-industrial-asset\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/www.commercialsearch.com\/news\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"LBA Pays $46M for 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\/4659e2337f06b61cefc6b0b897d183a4\",\"name\":\"Simona Tudose\",\"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\/SimonaTudose_AuthorPhoto.jpg?w=79\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/SimonaTudose_AuthorPhoto.jpg?w=79\",\"caption\":\"Simona Tudose\"},\"description\":\"Simona Tudose is an Associate Editor with Commercial Property Executive and Multi-Housing News. She joined the CPE-MHN team in July 2022 and writes news about industrial, office and manufactured housing sectors. You can reach out to her at simona.tudose@cpe-mhn.com.\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/author\/simona-tudose\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"LBA Pays $46M for Savannah Industrial Asset - Commercial Property Executive","description":"LBA Logistics purchased a 491,329-square-foot Class A industrial building in Port Wentworth, Ga., within metro Savannah.","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\/lba-pays-46m-for-savannah-industrial-asset\/","og_locale":"en_US","og_type":"article","og_title":"LBA Pays $46M for Savannah Industrial Asset","og_description":"LBA Logistics purchased a 491,329-square-foot Class A industrial building in Port Wentworth, Ga., within metro Savannah.","og_url":"https:\/\/www.commercialsearch.com\/news\/lba-pays-46m-for-savannah-industrial-asset\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2025-02-14T12:29:13+00:00","article_modified_time":"2025-02-14T12:36:33+00:00","og_image":[{"width":1017,"height":762,"url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/50-Innovation-Drive_Image-e1739444282508.jpeg","type":"image\/jpeg"}],"author":"Simona Tudose","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\/lba-pays-46m-for-savannah-industrial-asset\/","url":"https:\/\/www.commercialsearch.com\/news\/lba-pays-46m-for-savannah-industrial-asset\/","name":"LBA Pays $46M for Savannah Industrial Asset - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/lba-pays-46m-for-savannah-industrial-asset\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/lba-pays-46m-for-savannah-industrial-asset\/#primaryimage"},"thumbnailUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/50-Innovation-Drive_Image-e1739444282508.jpeg","datePublished":"2025-02-14T12:29:13+00:00","dateModified":"2025-02-14T12:36:33+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/4659e2337f06b61cefc6b0b897d183a4"},"description":"LBA Logistics purchased a 491,329-square-foot Class A industrial building in Port Wentworth, Ga., within metro Savannah.","breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/lba-pays-46m-for-savannah-industrial-asset\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/lba-pays-46m-for-savannah-industrial-asset\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/lba-pays-46m-for-savannah-industrial-asset\/#primaryimage","url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/50-Innovation-Drive_Image-e1739444282508.jpeg","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/50-Innovation-Drive_Image-e1739444282508.jpeg","width":1017,"height":762,"caption":"Exterior shot of 50 Innovation Drive, an industrial building in Port Wentworth, Ga. Image courtesy of JLL"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/lba-pays-46m-for-savannah-industrial-asset\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"LBA Pays $46M for 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\/4659e2337f06b61cefc6b0b897d183a4","name":"Simona Tudose","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\/SimonaTudose_AuthorPhoto.jpg?w=79","contentUrl":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/02\/SimonaTudose_AuthorPhoto.jpg?w=79","caption":"Simona Tudose"},"description":"Simona Tudose is an Associate Editor with Commercial Property Executive and Multi-Housing News. She joined the CPE-MHN team in July 2022 and writes news about industrial, office and manufactured housing sectors. You can reach out to her at simona.tudose@cpe-mhn.com.","url":"https:\/\/www.commercialsearch.com\/news\/author\/simona-tudose\/"}]}},"jetpack_featured_media_url":"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/02\/50-Innovation-Drive_Image-e1739444282508.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004747011","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\/2991"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004747011"}],"version-history":[{"count":9,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004747011\/revisions"}],"predecessor-version":[{"id":1004747200,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004747011\/revisions\/1004747200"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media\/1004747034"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004747011"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004747011"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004747011"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}