Tuesday, October 6th, 2020
Bixby Land Company, a Newport Beach, California-based investor, in joint venture with AXA Investment Managers - Real Assets, acting on behalf of clients, has acquired 95 Logistics Center, two newly constructed Class A warehouse distribution buildings totaling 564,000 square feet, in Pooler, Georgia.
The properties are currently 82% leased to two tenants: 1240 SH Morgan Parkway is fully occupied and 1030 SH Morgan Parkway is 54% occupied with a remaining vacancy of 100,214 square feet available. Offering close proximity to the I-95/I-16 freeways and within a 10-mile radius of the Port of Savannah, the fastest growing container port in the United States by TEU’s, the buildings feature 32’ warehouse clear height, 190’+ concrete truck courts, front- and rear-load configurations and excess trailer parking.
“This purchase represents Bixby’s continued commitment to expansion in the State of Georgia and other markets in the Southeast. We have now invested over $125 million between Atlanta and Savannah over the last 15 months and continue to look for opportunities to deploy more capital,” said Matt Ela, Vice President of Acquisitions at Bixby Land Company.
The brokers for the property were CBRE Atlanta Vice Chairman Chris Riley, Vice Chairman Frank Fallon and First Vice President Trey Barry.