Updated Oct 29, 2024
EQT Exeter Acquires Southeast Gateway Business Park In Savannah, GA For $120.4M
400 Fort Argyle Road Savannah, GA 31419, USA
$120,400,000
$100/SF
Building Size
1,200,000 SF
Asset Type
Industrial
Closing
Aug 24, 2023
About this deal
AI
EQT Exeter has expanded its industrial assets portfolio by acquiring the 1.2 million-square-foot Southeast Gateway business park in Savannah, GA for $120.4 million from Conor Commercial Real Estate. The property, located at 400 & 450 Fort Argyle Road, is an industrial asset in Savannah's market.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $120,400,000
- Square Footage: 1,200,000
- Price per Square Foot: $100
- Address: 400 & 450 Fort Argyle Road, Savannah, GA
- Market: Savannah, GA
The deal involved EQT Exeter as the buyer and Conor Commercial Real Estate as the seller. The transaction was facilitated by brokers Britton Burdette, Jim Freeman, John Huguenard, and Max Coffin from JLL.
Players
Argyle Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.13%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93