Key Takeaways
- • JLL Capital Markets facilitated the sale and acquisition financing of an 112,011 square-foot Class A industrial facility in Statesboro, Georgia, fully leased to Hanon Systems Alabama, Corp., a thermal and energy management solutions subsidiary serving the Hyundai Metaplant.
- • Spaulding & Slye Investments acquired the property from a Graham Capital and Chesterfield partnership, with Seacoast Bank providing acquisition financing to the new owner.
- • The build-to-suit facility, completed in April 2024, is strategically positioned 1.1 miles from Highway 301, 7.2 miles from I-16, and 34.9 miles from the Hyundai Metaplant, positioning it to serve both the automaker and the broader Savannah industrial market.
- • The property features institutional-grade specifications including 32-foot clear height, 11 dock-high doors, multi-sided loading, and 14,880 square feet of office space, with the tenant holding two expansion options totaling 213,600 additional square feet of potential capacity.
- • The lease secures 100% occupancy for HVAC product assembly, radiators, condensers, heat exchangers, and battery heating and cooling systems destined for automotive manufacturing.
Summary
JLL Capital Markets announced the completion of a sale and acquisition financing transaction for an industrial property located at 8540 Zell Miller Road in Statesboro, Georgia, on September 19, 2024. Spaulding & Slye Investments acquired the 112,011 square-foot Class A light manufacturing and distribution facility from a partnership comprising Graham Capital and Chesterfield. Seacoast Bank provided the acquisition financing to support the purchase.
The property represents a strategic extension of the Savannah, Georgia industrial market, with proximity to major transportation corridors and the Hyundai Metaplant. The facility is situated 1.1 miles from Highway 301, 7.2 miles from Interstate 16, and 34.9 miles from the Hyundai manufacturing operation, positioning it to serve both the automaker and regional distribution needs. The build-to-suit design accommodates the tenant's specific operational requirements with 32-foot clear height, multi-sided loading configuration, 11 dock-high doors, two drive-in doors, and 14,880 square feet of dedicated office space.
The facility was completed in April 2024 and is fully leased to Hanon Systems Alabama, Corp., a subsidiary of Hanon Systems specializing in thermal and energy management solutions. The tenant operates the facility for assembling HVAC products, radiators, condensers, heat exchangers, and battery heating and cooling systems for automotive applications, primarily destined for the adjacent Hyundai Metaplant. The lease includes two expansion options providing the tenant with flexibility for growth: a first expansion option of 68,000 square feet and a second option of 145,600 square feet.
JLL's Investment Sales and Advisory team was led by Directors Jim Freeman and Anthony Walters, Senior Managing Directors Britton Burdette, Dennis Mitchell, and Matt Wirth, and Associate Bo Osgood. The Debt Advisory function was spearheaded by Senior Director Bobby Norwood and Senior Managing Director Mark Sixour. The transaction underscores institutional investor appetite for well-located industrial assets with strong tenant credit quality and built-in expansion capacity within growing automotive supply chain corridors.
The property represents a strategic extension of the Savannah, Georgia industrial market, with proximity to major transportation corridors and the Hyundai Metaplant. The facility is situated 1.1 miles from Highway 301, 7.2 miles from Interstate 16, and 34.9 miles from the Hyundai manufacturing operation, positioning it to serve both the automaker and regional distribution needs. The build-to-suit design accommodates the tenant's specific operational requirements with 32-foot clear height, multi-sided loading configuration, 11 dock-high doors, two drive-in doors, and 14,880 square feet of dedicated office space.
The facility was completed in April 2024 and is fully leased to Hanon Systems Alabama, Corp., a subsidiary of Hanon Systems specializing in thermal and energy management solutions. The tenant operates the facility for assembling HVAC products, radiators, condensers, heat exchangers, and battery heating and cooling systems for automotive applications, primarily destined for the adjacent Hyundai Metaplant. The lease includes two expansion options providing the tenant with flexibility for growth: a first expansion option of 68,000 square feet and a second option of 145,600 square feet.
JLL's Investment Sales and Advisory team was led by Directors Jim Freeman and Anthony Walters, Senior Managing Directors Britton Burdette, Dennis Mitchell, and Matt Wirth, and Associate Bo Osgood. The Debt Advisory function was spearheaded by Senior Director Bobby Norwood and Senior Managing Director Mark Sixour. The transaction underscores institutional investor appetite for well-located industrial assets with strong tenant credit quality and built-in expansion capacity within growing automotive supply chain corridors.
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