ATLANTA, Feb. 11, 2025 - JLL Capital Markets announced today the sale of 50 Innovation Drive, a 491,329-square-foot industrial property in Savannah, Georgia.
JLL represented the confidential seller in the sale to LBA Logistics.
This industrial facility features 32-foot clear height, 200-foot truck courts, 106 dock-high doors and 149 trailer parking spaces. The property sold vacant, giving the buyer the ability to add value via leasing up the asset.
Its strategic position provides easy access to major highways and transportation networks, including I-95, Jimmy Deloach Parkway and I-16, facilitating seamless logistics and distribution across the region and beyond. Sitting roughly six miles from Georgia Port Authority's Garden City Terminal, the property is well located for maximizing truck turns to the Port.
The JLL Capital Markets team was led by Senior Managing Directors Britton Burdette and Dennis Mitchell and Director Jim Freeman along with JLL's Atlanta Agency Leasing team of Executive Managing Directors Bob Currie and Tim McCarthy.
"Savannah has been exhibiting exceptional absorption rates and tenant demand figures, ranking among the highest in the nation," said Burdette. "This impressive performance is primarily driven by the rapid expansion of the port and the Hyundai plan. Consequently, we are observing robust demand for well-located assets in Savannah such as this property."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients - whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL's newsroom.
LBA Realty | LBA Logistics ("LBA") is a full-service, vertically integrated real estate investment and management company headquartered in Irvine, California, U.S. with a diverse portfolio of industrial and office properties in major markets throughout the U.S. and U.K. LBA was founded in 1991 and is a privately held company with 255 global team members. LBA invests via closed-end real estate investment funds and joint venture partnerships on behalf of institutional investors including leading pensions funds, endowments, foundations, and foreign investors. LBA Logistics, the industrial operating arm of LBA Realty, operates a portfolio of industrial properties that total approximately 103M SF and is comprised of over 400 properties. LBA expanded to Europe in 2023 and is currently growing its U.K. logistics and industrial investment team and portfolio.
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Jones Lang LaSalle Inc. published this content on February 11, 2025, and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on February 11, 2025 at 14:53:24.678.
