Crestlight Capital, in partnership with GEM Realty Capital, recently announced the acquisition of Savannah Portside II, a Class A, newly constructed, state of the art, 1.2 million square foot distribution warehouse located 19 miles from the Port of Savannah, the fastest-growing and third-largest port in the nation. The partnership also acquired the adjacent Savannah Portside I building in September 2023.  In total, the Savannah Portside Industrial Portfolio spans over 2.3 million square feet.

“Long term, we see tailwinds in the industrial sector and the burgeoning Savannah market.  We are excited to partner with GEM Realty Capital to acquire our second asset together here.  Over the past decade, the Savannah industrial market has witnessed an 84% increase in rents. With billions in continued infrastructure investment, we believe the Port is in the middle innings of growth as volume is expected to continue increasing,” stated John Coury, Managing Partner of Crestlight.

The two buildings in the portfolio, located at 201 and 301 Savannah Portside International Parkway in Bloomingdale, are 100% occupied by two tenants.  Crestlight and GEM have retained CBRE to manage and lease the buildings.