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Hines REIT Adds Savannah Industrial Asset
Hines paid $194.4 million for two industrial facilities within Georgia International Trade Center in Rincon, Ga. The Davis Cos. sold the assets.
Hines purchased the Georgia International assets through a Delaware statutory trust, part of Hines Global Income Trust’s DST program.
The two distribution facilities total 2.2 million square feet. The Georgia International Trade Center (GITC) is a fully leased, master-planned industrial park developed through a joint venture of Davis and Stonemont Financial Group. It encompasses over 7.7 million square feet of Class A manufacturing and warehouse space across ten buildings. The site is approximately ten miles from the Port of Savannah, the third-largest container port in the U.S., the largest port in the Sunbelt, and the fastest-growing port on the East Coast.
Ryan Wood and Tom Griggs, with Hines’ U.S. Sunbelt and East industrial teams, led the acquisition.
- ◦Sale/Acquisition
