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Savannah Gateway Facility 1H, a 790,000-square-foot single-story industrial building situated in Rincon, Georgia's Savannah submarket, has been purchased by TerraCap Management, LLC of Naples, Florida.
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At 75% occupancy, TerraCap is purchasing Savannah Gateway 1H.
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Britton Burdette of JLL represented the seller, Broe Real Estate Group. The property will be managed by Colliers.
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A two-building transaction includes Building 1H. Building 1F, the first structure, was delivered and purchased by TerraCap in August 2022.
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According to TerraCap's founder and managing partner Steve Hagenbuckle, "Expanding our industrial holdings near developing seaports is key to TerraCap's investment thesis and strategy."
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"With this deal, we have now acquired properties totaling more than 1.35 million square feet in Savannah."
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Less than 13 miles separate Building 1H from the Garden City terminal of the Port of Savannah. Building 1H is situated in the Savannah Gateway Industrial Hub.
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The I-95 and I-16 are both only a short distance from the property.
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