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Kokot Realty Enterprises Grabs $12M Low-Coverage Industrial Asset in Savannah
Kokot Realty Enterprises has completed the $12.3-million purchase of a low-coverage industrial building within the SPA Industrial Park in Savannah, GA. The building is 100% leased to Celadon Fiber.
Britton Burdette, Dennis Mitchell, Matt Wirth, Mitchell Townsend and Jim Freeman of JLL represented the seller Hight Knox Properties, LLC, and procured the buyer.
The property consists of a 64,372-square-foot production facility with 3.6 acres of trailer/outdoor storage. The building features 3,109 square feet of office space, 34’-38’ clear heights, four grade-level drive-ins and six dock doors.
The property is situated in a high barrier to entry infill area of Savannah just minutes from Savannah/Hilton Head International Airport and less than eight miles from the Port of Savannah’s Garden City Terminal.
“The strength of the Savannah industrial market, now with the lowest vacancy rate in the country along with some of the highest amount of tenant demand, drove significant interest for this offering,” said Burdette.
- ◦Sale/Acquisition
