Le Lézard
Classified in: Business
Subjects: RLE, CXP

TerraCap Management Acquires 790k SF Industrial Building in Savannah MSA

RINCON, Ga., Nov. 21, 2022 /PRNewswire/ -- TerraCap Management LLC, a privately held investment firm with its headquarters in Naples, Florida, announced today the acquisition of Savannah Gateway Building 1H, a 790k square foot single-story industrial building located in Rincon, GA.

Building 1H is part of a two-building acquisition. The first building, Building 1F, was delivered and acquired by TerraCap in August 2022.

"Continuing to expand our industrial holdings near growing seaports is integral to TerraCap's investment thesis and strategy. This acquisition marks over 1.35 million square feet of recent acquisitions for us in Savannah, GA. Working with our local partners on these well-located new facilities is a great example of teamwork," said Steve Hagenbuckle, TerraCap Founder and Managing Partner.

Building 1H is located in the Savannah Gateway Industrial Hub, one of the largest industrial parks in Savannah, and is less than 13 miles from the Port of Savannah's Garden City terminal. The property is also located minutes from I-95 and I-16. TerraCap is acquiring Savannah Gateway 1H at 75% occupancy.

"We are pleased to announce the acquisition of this property at Savannah Gateway. This master-planned industrial park has been meticulously designed and developed, and we are excited to own this best-in-class property that is located only 13 miles from the Port of Savannah. Industrial users across the country recognize the efficiency and value that the Port of Savannah offers, and we believe these factors will continue to drive the strong fundamentals of this market, which is currently among the most highly-occupied markets in the country," said Nick Vician, TerraCap Director of Business Development and Strategic Initiatives. "We are grateful to Britton Burdette of JLL for leading a seamless sale process, and to Broe Real Estate Group for their partnership throughout the sale process."

The seller, Broe Real Estate Group, was represented by Britton Burdette of JLL. Colliers International was hired to manage the property.

About TerraCap Management LLC

TerraCap Management LLC considers thematic factors such as business formation, employment growth and population growth on a market-by-market basis, as most metros and submarkets have different economic-based industries and therefore move through their economic cycles differently. TerraCap makes moderate strategic overweighting or underweighting to markets, depending on the specific economic drivers influencing supply and demand.

The Investment Manager has been in operation since 2008 with its headquarters located in Naples, FL, the firm also has offices in Tampa, FL, Atlanta, GA, and Denver, CO. As operators, TerraCap believes it can make decisions more efficiently while leveraging expertise from property to property. The firm has over 10 million square feet of commercial assets within its portfolio, with over 2.1 billion dollars of assets under management.

More information can be found at terracapmgmt.com.

For More Information, Contact:
Matthew Hart
TerraCap Management LLC

SOURCE TerraCap Management LLC

These press releases may also interest you

at 09:00
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against NewAge, Inc. ("NewAge" or the "Company") and reminds investors of the February 6, 2023 deadline to seek the role of lead plaintiff in a federal...

at 09:00
On or about July 28, 2022, CORE Cashless became aware of a compromise to its environment, which may have resulted in the inadvertent exposure of sensitive information of individuals who processed their payment card through the websites of certain...

at 09:00
Maria Oddy is noted for The Luxury Real Estate Experience in Naples, Florida. Maria's exclusive global network of contacts and her understanding of the Naples lifestyle makes her the perfect choice for the real estate needs of the...

at 08:00
On Wednesday, February 8, the College of Law at St. Thomas University in Miami, Florida, will become the Benjamin L. Crump College of Law. This will be the first law school in the country named after a practicing Black attorney. The only other law...

at 07:21
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against F45 Training Holdings Inc. ("F45 Training" or the "Company") and reminds investors of the February 6, 2023 deadline to seek the role of lead...

at 07:00
Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against National Vision Holdings, Inc. ("National Vision" or the "Company") and reminds investors of the March 28, 2023 deadline to seek the role of lead...

News published on 21 november 2022 at 08:34 and distributed by: