AEW Capital Management and Strategic Real Estate Partners sold Savannah GA based Coastal Commerce Center to Stream Realty Partners for $113 million. The two Class A distribution facilities total 826,250 square feet.
JLL represented the seller, a joint venture between AEW Capital Management and Strategic Real Estate Partners, in the sale to Stream Realty Partners LP.
Coastal Commerce Center comprises two fully leased distribution facilities offering 130'-185' truck courts, 204 trailer parking spaces and 398 auto parking spots. Building A is a 462,000-square-foot cross-dock building with 36' clear heights leased by Performance Team. Building B is a 364,250-square-foot rear-load building with 32' clear heights leased by IDC Logistics.
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The property consists of approximately 3,000 linear feet of prime frontage on Interstate 16 with direct access to I-95, I-516 and Pooler Parkway, the buildings provide direct connectivity to Savannah's Garden City Terminal via a signalized intersection at Dean Forest Road. Coastal Commerce Center is located at 1514 Old Dean Forest Road putting the buildings six miles from Garden City Terminal and seven miles from Savannah Hilton Head International Airport.
The JLL Capital Markets Industrial team was led by Senior Managing Directors Britton Burdette, Dennis Mitchell and Matt Wirth, Director Mitchell Townsend and Associate Jim Freeman.
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