Rincon Welcomes New Investment: A $34.1 Million Distribution Center Deal
Rincon, Georgia, is buzzing with excitement this week as JLL Capital Markets announces the significant $34.1 million sale of 1001 Gateway Parkway, an impressive Class A distribution center. This property, also referred to as Savannah Gateway 1G, is a pivotal piece of real estate in the thriving Savannah Gateway Industrial Hub.
Who’s Involved?
JLL has been the driving force behind this transaction, representing the seller, Broe Real Estate Group. This multi-billion-dollar firm is not just any developer; they are behind the development of the sprawling 2,600-acre Savannah Gateway Industrial Hub. The buyer, an affiliate of LXP Industrial Trust, clearly sees the value in this prime location.
What Makes This Property Special?
The distribution center spans a massive 204,800 square feet and is currently fully leased to two tenants, which adds a layer of security for the investment. One of the tenants is Kyungshin America Corporation, a tier 1 supplier for Hyundai and a subsidiary of Kyungshin Corporation, while the other is Weida Freight. This strong tenant lineup speaks volumes about the demand in this area.
But there’s more to this property than just square footage. The center features tilt-wall construction, a substantial 32-foot clear height for efficient storage, and a 185-foot truck court depth—perfect for accommodating large freight operations. With 38 dock-high doors, two drive-in doors, and ample parking, including 133 auto spaces, it’s easy to see why this facility is attractive to businesses needing logistical solutions.
The Location Advantage
Situated just 11.9 miles from the Garden City terminal at the Port of Savannah, this distribution center boasts incredibly convenient access to both Interstate 95 and Interstate 16. Plus, the area features dual-rail service from both CSX and Norfolk Southern rail lines, making it a logistics goldmine.
In addition to its current attributes, there are exciting developments on the horizon. The upcoming Effingham Parkway is set to be completed by September 2025, further enhancing accessibility to the property and solidifying its status as the ideal dual-access facility located in the Highway 21 Corridor.
Market Insights
Britton Burdette, a Senior Managing Director at JLL, highlighted the significance of this sale. He stated, “This transaction underscores the growing importance of the Savannah market in the national industrial landscape.” With increasing port activity, facilities like 1001 Gateway Parkway are becoming increasingly valuable for both investors and tenants looking to streamline their supply chain operations.
About JLL Capital Markets
JLL Capital Markets is recognized as a full-service global provider of capital solutions tailored for real estate investors and occupiers. The firm’s specialists possess deep local market insight combined with global investor knowledge, allowing them to offer top-notch advisory and investment sales services. With a team exceeding 3,000 specialists and offices in nearly 50 countries, JLL is well-equipped to cater to its client’s unique needs.
Looking Ahead
This sale marks a significant step forward for Rincon, Georgia’s industrial sector. The combination of an exceptional property, strong tenants, and a prime location positions 1001 Gateway Parkway as a vital asset in a booming market. As logistics and supply chain demands grow, this distribution center is likely to play a key role in the economic development of the region.
Rincon residents and investors alike will be keeping a close eye on how this transaction will shape the local economy and what future developments will come to this vibrant area.
