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Sansone Group has acquired 101.5 acres of land in Savannah, Georgia, marking the Clayton-based commercial real estate firm’s first acquisition in the Peach State.
The company is partnering with an undisclosed private real estate fund, advised by Crow Holdings Capital, which has $10.6 billion of assets under management, on the deal. Together, the two groups will develop up 1,343,000 square feet of Class A industrial space, Sansone officials said.
A sales price and estimated investment cost were not disclosed.
The site is located at the intersection of Highway 21 and Interstate 95, less than 6 miles from the Georgia Port Authority, the third largest and fastest growing port in the United States, officials said.
The Savannah deal is part of Sansone Group’s market expansion strategy and its bullish push into the national industrial sector. Within the past year, the company has announced new deals in Port St. Lucie, Florida; New Jersey; and Salt Lake City.
