VanTrust Sells Industrial Facility Near Savannah
VanTrust Real Estate has sold Interstate West’s Building A, a 637,868-square-foot industrial facility in Ellabell, Ga., near Savannah. Goldrich Kest acquired the 2023-completed asset. JLL represented the seller.
Fully leased by three tenants at the time of closing, the facility is part of the 515-acre Interstate West. The industrial park currently comprises three completed buildings totaling roughly 2.8 million square feet and an underway development expected to measure more than 2 million square feet.
VanTrust completed Building A last year, using funds from a construction note originated by Wells Fargo Bank in August 2022, according to CommercialEdge information. The warehouse has 40-foot clear heights, 134 dock-high loading doors, four drive-in doors, 168 trailer stalls, 228 parking spots and a 185-foot truck court.
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The distribution center is at 54 Logistics Drive, just off Interstate 16 and 26 miles from downtown Savannah. The location is 25 miles from the Port of Savannah and 23 miles from Savannah/Hilton Head International Airport.
JLL Senior Managing Directors Britton Burdette, John Huguenard, Matt Wirth and Dennis Mitchell, along with Director Jim Freeman, led the team that arranged the transaction on behalf of VanTrust.
VanTrust’s recent industrial activity
VanTrust Real Estate has developed more than 58 million square feet of industrial space across 115 projects since its 2010 inception. The company’s total industrial volume is currently north of $4.7 billion.
The firm is developing Sephora’s build-to-suit facility in Avon, Ind. The 745,672-square-foot distribution center is set to come online next summer and marks the second collaboration between the two companies.
In April, VanTrust sold Building 2 of Rickenbacker Exchange at Commercial Point, a 1.2 million-square-foot property in Commercial Point, Ohio. W.P. Carey paid $94.1 million for the speculative facility.
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