LBA Logistics Acquires 491329 Square Foot Industrial Building From Lowe's For $46M

LBA Logistics acquired an industrial asset located at 50 Innovation Drive in Port Wentworth, GA. This Class A industrial building spans 491,329 square feet and was purchased for a total of $46,000,000, equating to a price per square foot of $94.

Summary of transaction details:

• Property Type: Industrial
• Transaction Amount: $46,000,000
• Sale Date: 02/14/2025
• Market: Savannah, GA
• Square Footage: 491,329
• Price per Square Foot: $94
• Buyer: LBA Logistics
• Seller: Lowe’s
• Brokers: Bob Currie, Britton Burdette, Dennis Mitchell, Jim Freeman & Tim McCarthy - JLL

The transaction involved multiple brokers from JLL, representing Lowe’s in the sale of the property. This acquisition occurred in the context of strong industrial demand within the Savannah-Hilton Head market, supported by significant transactions and the growth of the Port of Savannah.