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Denholtz Properties Acquires Three-Building Industrial Portfolio in Savannah
Denholtz Properties has acquired a three-building, 358,884-square-foot industrial portfolio in the Savannah submarket of Bloomingdale/Pooler, GA for $33 million. The Coleman Portfolio is currently fully leased tenants including Collins Aerospace, Johnson Matthey and East Coast Logistics.
Colliers handled the transaction; JLL arranged the buyer’s financing.
The buildings on Coleman Boulevard and Artley Road offer access to Port of Savannah, Norfolk Southern and CSX rail networks, Interstates 16 and 95 and Savannah/Hilton Head International Airport.
The transaction is part of the company’s plan to acquire and develop multi-tenant industrial properties with a total value of approximately $1 billion.
“When we launched our joint venture earlier this year, the Savannah market’s steady growth, superior infrastructure and underlying demographics made it an ideal target for us,” said Stephen Cassidy, president of Denholtz Properties.
“In the face of macroeconomic pressures and changing local market dynamics, the multitenant industrial sector continues to showcase tremendous resiliency and price appreciation,” added Mark Mahasky, director of acquisitions and capital transactions for Denholtz Properties.
- ◦Sale/Acquisition
