Dermody Properties Pronounces an Acquisition within the Southeastern U.S.
Backyard Metropolis, Ga. – Dermody Properties, a nationwide personal fairness actual property funding, improvement and administration firm targeted completely on the logistics actual property sector, is happy to announce the acquisition of 2509 Dean Forest Street, Constructing A, in Backyard Metropolis, Georgia.
The 312,000-square-foot Class A logistics facility, occupied by Yokohama Off-Freeway Tires America, Inc. and GFA, Inc., is a big addition to Dermody Properties’ portfolio simply minutes from the Port of Savannah within the firm’s Southeast Area. The Port of Savannah is the quickest rising port in North America.
“This property’s strategic location, together with its zero-turn entry to the Backyard Metropolis Terminal, makes it a helpful logistics alternative throughout the market,” mentioned Wes Hardy, Southeast Area Companion at Dermody Properties. “We sit up for working with the constructing’s current prospects.”
Britton Burdette, Matt Wirth, Jim Freeman, Dennis Mitchell and Mitchell Townsend of Jones Lang LaSalle, Inc. (NYSE: JLL) introduced this chance to Dermody Properties.
The well-positioned logistics facility throughout the Savannah industrial market presents rapid entry to Backyard Metropolis Terminal, the fastest-growing container terminal in America, and shut proximity to main freeways, together with Interstate 95 and Interstate 16. The power’s specs embody a 32’ clear top, 89 dock-high doorways, three drive-in doorways, 74 trailer parking areas, T-5 lighting with movement sensors and ESFR fireplace safety.
“The Savannah industrial market’s considerably low industrial emptiness makes for an thrilling time to be a part of the market’s record-setting development,” mentioned Tim Walsh, Companion and Chief Funding Officer for Dermody Properties. “Additional, the Port of Savannah is constantly increasing as a result of quantity it has seen over the previous 5 years, with the variety of weekly port calls being second solely to New York and New Jersey.”
Dermody Properties at the moment has two properties accessible in its Southeast Area totaling 737,000 sq. toes. 210 Interstate South Drive will likely be accessible for occupancy in Q1 2024, and LogistiCenter℠ at Monroe Crossing is at the moment accessible for pre-leasing with occupancy in Q3 2024. For extra info, please go to the area web page on the Dermody Properties web site.
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About Dermody Properties
Dermody Properties is a privately-owned actual property funding, improvement and administration agency that makes a speciality of the acquisition and improvement of logistics actual property in strategic areas for e-commerce success facilities, third-party logistics and distribution prospects. Based in 1960, Dermody Properties has invested greater than $10 billion of complete capital throughout all platforms nationwide, having acquired and developed roughly 110 million sq. toes of logistics and industrial amenities. Along with its company workplace in Reno, Nev., it has regional workplaces in northern and southern California, Atlanta, Phoenix, Seattle, Chicago, Dallas, Indianapolis and New Jersey. For extra info, go to www.Dermody.com.
