EXECUTIVE SUMMARY

On behalf of Ownership, Jones Lang LaSalle America, Inc. (“JLL”) has been retained as the exclusive sales representative for 100% interest in NFI Distribution Center Savannah (the “Property”) — a state-of-the-art, newly completed 1,026,606 SF Class-A distribution facility located within the explosive Savannah, Georgia industrial market. Situated just 10 miles away from Savannah’s Garden City Terminal and minutes away from the pivotal I-95 & I-16 intersection, the Property is easily accessible to all of Savannah’s major logistical thoroughfares. The Property is 100% leased to NFI (#175 Forbes America’s Largest Private Companies, Rev $3.1 B in 2022), with 9.1 years of term remaining and 3.50% annual escalations.

Savannah’s industrial market fundamentals are among the best in the country driven by the Port’s record high cargo volumes, future expansion projects, and the direct connectivity to a network of logistical nodes. Savannah boasts the lowest industrial vacancy rate in the country (0.8% in Q1 2023), one of the highest amounts of tracked tenant demand in the country (#1 as a percentage of inventory), and a record annual net absorption of 15.3 MSF in 2022 (also #1 as a percentage of inventory).

*NFI Distribution Center Savannah is being marketed separately from Old Augusta Commerce Center Building 1. If you are interested in reviewing the materials for Old Augusta Commerce Center Building 1, please reach out to the Investment Advisors listed below.

PROPERTY SPECS

INVESTMENT HIGHLIGHTS

Class A Design

•    1,026,606 SF state-of-the-art distribution facility
•    Cross-dock; 190′ truck court depth
•    40′ clear height
•    224 auto spaces  and 220 trailer spaces (expandable to 307)
•    ESFR sprinklers and LED lights

Tenant Information - NFI
•    National Distribution Centers, (Operating as NFI):
     »    Fully integrated supply chain solutions provider, specializing in distribution, eCommerce, transportation, port services, real estate, and integrated logistics

     »     Revenue of $3.1 billion in 2022 
     »    #175 on Forbes America’s Largest Private Companies

     »    6th largest dedicated contract carrier in North America 
     »    90 years in business and 16,800+ employees

•    Building 2 represents ~51% of the company’s overall footprint in the greater Savannah market (4 locations)

Lease Information

•    Full-building lease (1,026,606 SF) in Building 2
•    New 10-year term
•    3.5% annual escalations

Unprecedented Industrial Market Fundamentals

•    JLL Research ranked Savannah the lowest industrial vacancy in the country 
(0.8%) for four quarters in a row in Q1 2023
•    Savannah ranked first in the country for tenant demand and net absorption as a % of market inventory (see charts below)
•    Generated 33.2 MSF of positive absorption over the last 3 years
     »    Over the same time period, Savannah has delivered 30.1 MSF and increased supply by 35.8%
•    Record breaking 15.3 MSF absorption in 2022 (15.6% of its total inventory)
•    Vacancy rate below 1% for 5 quarters in a row
•    Discount to competing port markets which drives new tenant demand
•    34.1% of under-construction inventory pre-leased or under negotiation

Proven, Premier Logistical Location

•    The Property sits just 10 miles from the Georgia Ports Authority’s booming Garden City Terminal (only two truck turns)
•    4.9 miles from Interstate 95, the industrial backbone of the eastern seaboard
     »    Interstate 95: Connects through most major east coast cities, serves 110 million people and facilitates 40% of the country’s gross domestic product.
•    Effingham County
     »    Attractive incentives, excellent labor pool, and one of the fastest growing suburbs of the Savannah MSA
•    Highway 21 Submarket
     »    First amongst all submarkets in terms of net absorption as a percentage of inventory (40.3%, 3.5 MSF total of YTD net absorption)
     »    2nd closest in submarket for servicing the Port Corridor
     »    Rapidly expanding submarket, 7.7 MSF under construction with 3.8 MSF in 
YTD completions                        

CONTACT