NAI Mertz president Scott Mertz completed the lease of a 356,831 s/f industrial facility to Pioneer Logistics Systems, a start-up logistics company specializing in the print and media industries, at 200 S.H. Morgan Parkway, Savannah, Georgia.
The company, based in East Rutherford, New Jersey, required this new space to meet its business demands in the southern part of the United States.
In a second transaction, immediately following the lease, Mertz sold the building to an investor for the sale price of $25,500,000.
Mertz represented the tenant in lease transaction, and buyer in the sale transaction. The seller represented themselves in the sale.
“Industrial product along the east coast is experiencing a velocity that is unparallel to any other commercial real estate sector due to the heightened demand from the logistics and distribution industries,” commented Mertz.
“I am pleased to have worked with these stellar companies to bring a quality company to the community and also to help the original building owner meet its business goals,” he added.
Located within the Prologis Savannah Logistics Center, 200 S.H. Morgan Parkway is located in close proximity to I-95, Port Savannah, and the Savanna Hilton Head International Airport, making this an ideal location for logistics and distribution companies alike.
This 252-acre industrial park features more than 85 acres of cleared land and entitled land sites for industrial development.
Current tenants within the center include FedEx, Floor & Décor, and Matson Logistics.