Savannah, GA – The Net Lease Group (“NLG”) is pleased to announce the sale of a 700,000-square-foot industrial warehouse at The Cubes at Interstate Centre II in Bryan County, GA., 23 miles west of Savannah, to Realty Income. Known as Building A at The Cubes at Interstate Centre II, a 300-acre development within Interstate Centre, the facility is fully leased to McKesson Medical-Surgical, a leading medical distributor.
The project served as the first vertical development of CRG’s master-planned industrial park, The Cubes at Interstate Centre II, strategically positioned to address the increased demand for industrial space being driven by the expansion of the Port of Savannah.
“We anticipated tremendous interest in Building A, and its quick lease-up and sale demonstrate CRG’s ability to deliver the best product in the right market at the right time,” said Mike Demperio, partner and senior vice president of the Southeast region for CRG. “For a whole range of companies doing business in the Southeast, this site is ideal for transportation and labor. As the Port of Savannah continues to experience rapid growth and market absorption from the congested West Coast ports, The Cubes at Interstate Centre II offers much-needed proximity to the Savannah port while benefiting from lower labor costs and traffic congestion.”
Located at 1338 Interstate Blvd. in Ellabell, GA., Building A features 36’ clear heights, an ESFR sprinkler system, 80 9’ x 10’ dock doors, and four 12’ x 14’ drive-in doors. It also has 185-foot-deep truck courts, 131 trailer spaces and 225 auto spaces. CRG’s parent company Clayco served as the builder for the project and it subsidiary Lamar Johnson Collaborative served as architect. CRG is currently constructing a 463,200-square-foot facility as its second industrial project at The Cubes at Interstate Centre II.
The disposition team led by Esmael Hill includes Net Lease Group team members Philip Wickstrom, Rick Ross, Mark Lewensohn and Ross Wood, who assisted throughout the transaction from construction to completion. In addition to leading the disposition, Net Lease Group arranged the equity capitalization for the construction and development of Building A at Interstate Centre II.
About NLG:
NLG is an investment advisory and brokerage firm specializing in corporate, institutional, and private execution of single and multi-tenant, net lease transactions across all markets. NLG provides Investment Sales, Sale-Leaseback Advisory, Build-to-Suit Advisory, Development Services, Debt-Equity Placement, and Private Client Services throughout the United States.
NLG/NLGCM provides advice and expertise through all stages of a real estate project; this includes initial research, project finance, feasibility studies, lease structuring, construction, delivery, and disposition, which sets NLG apart from other net lease property advisors.