I-16 Logistics Center

On behalf of Ownership, Jones Lang LaSalle America, Inc. (“JLL”) has been retained as the sales representative for I-16 Logistics Center (“Property”). This state-of- the-art, multi-tenant, Class A distribution facility spans 548,818 SF and is situated in the thriving West submarket of the Savannah, Georgia industrial market. Boasting a prime location just 20.8 miles from Savannah’s Garden City Terminal and adjacent to the I-16 / U.S. 280 interchange, the Property sits directly across I-16 from the 17 MSF Hyundai Metaplant; a location which is emerging as a supplier ecosystem for the Metaplant along with servicing the growing Port of Savannah.

The Property is 79% leased to Veyer ($5.3B 2023 Rev), GFA (Hyundai supplier), and Ecoplastic (Hyundai supplier) with a weighted average lease term of 4.8 years and substantial 4% annual escalations, providing upside through the lease up of the remaining 117,692 SF unit. This unleased space is the only available Class A unit under 175,000 SF within a 9-mile radius of the Hyundai Metaplant, affording an owner significant leverage in pricing for prospective tenants requiring proximity to the facility. Constructed in 2023, this state-of-the-art, rear-load multi-tenant facility boasts institutional-grade quality and versatile configurations. The property is strategically designed to meet the diverse space requirements of both Hyundai suppliers and various port-related operations, as demonstrated by its current tenant composition.

The industrial market in Savannah is experiencing remarkable growth, fueled by record cargo volumes at the Port, infrastructure projects, and extensive logistical connectivity. In terms of tracked tenant demand as a percentage of inventory, Savannah ranked first in the country from 2022 through 2023 and second in 2024. In 2024 alone, Savannah ranked first across all national markets with respect to net absorption at 22.2 million square feet (inclusive of both manufacturing and warehouse & distribution) representing a 71% increase year-over-year. Further, net absorption metrics, excluding the Hyundai Metaplant (10.1 MSF), remain strong, ranking first nationally as a percentage of inventory. Regarding leasing activity, the market continued to outperform on a national basis with 12.2 million leases signed in 2024, of which 85% were new deals.