Stream Realty Partners Winds Up $113M Buy of Two Distribution Facilities in Savannah

Stream Realty Partners has completed its $113-million acquisition of Coastal Commerce Center, two Class A distribution facilities totaling 826,250 square feet in Savannah, GA.

Britton Burdette, Dennis Mitchell, Matt Wirth, Mitchell Townsend and Jim Freeman of JLL represented the seller, AEW Capital Management and Atlanta, GA-based Strategic Real Estate Partners.

Coastal Commerce Center offers 130’-185’ truck courts, 204 trailer parking spaces and 398 auto parking spots. Building A is a 462,000-square-foot cross-dock building leased by Performance Team, LLC. Building B is a 364,250-square-foot rear-load building leased by IDC Logistics, Inc.

The property at 1514 Old Dean Forest Road has direct access to I-95, I-516 and Pooler Parkway and direct connectivity to Savannah’s Garden City Terminal. “Savannah’ market strength along with the offering’s best-of-market location helped to drive very strong interest from buyers,” said Burdette.  “The outlook for the Savannah industrial market is excellent and should drive growth in value for quality assets such as this going forward.”