DECEMBER 20, 2021

ASB Acquires 1.38-Million-Square-Foot Logistics Center in Savannah

Savannah, GA — ASB Real Estate Investments (ASB) announced today the acquisition of the Savannah Logistics Center, a 100% leased, three-building, 1,381,860-square-foot Class A industrial portfolio serving the nation’s fastest growing container port. ASB made the acquisition on behalf of its Allegiance Real Estate Fund, a $7.9 billion core vehicle. Ares Management, a global alternative investment manager, was the seller.

Situated on 84 acres just west of the Savannah/Hilton Head International Airport in Pooler, GA, the portfolio provides phenomenal access to the Port of Savannah via Pooler Parkway and is proximate to both I-16 and I-95, providing for direct connectivity to Atlanta, Florida, and the Carolinas. The portfolio includes two buildings at 1020 and 1024 S H. Morgan Parkway —710,000 and 325,000 square feet, respectively — that are fully leased to Matson Logistics.  The third building at 101 S H. Morgan Parkway totals 346,000 square feet and is fully leased to Outsource Logistics and Expeditors. The portfolio benefits from Class A physical attributes such as 30- to 32-foot clear ceiling heights, deep truck courts, ample trailer storage, and security fencing.

The investment adds to ASB’s industrial holdings in Savannah. In October, the company acquired a recently constructed 166,400-square-foot, Class A industrial building in Garden City.

ASB Vice President, Mary Murphy said: “Savannah has quickly established itself as one of the East Coast’s most important ports, benefiting from explosive growth in logistics to serve e-commerce supply chains and a shift from West Coast ports to the East Coast. These properties feature an excellent location with proximity to the Port and will help advance our goal of owning superior industrial assets in one of the nation’s most important transportation hubs and growing population centers.”

Savannah is the fourth largest port in the U.S. and second largest on the East Coast.

ASB’s nationwide industrial portfolio comprises 11.6 million square feet of space and is 99% leased. Its assets are located in leading markets, including Northern New Jersey, the Inland Empire, San Francisco, Dallas-Fort Worth, Houston, South Florida, Denver, and Savannah. The company has invested $1.3 billion in 19 industrial assets since 2018.

About ASB Real Estate Investments

ASB Real Estate Investments (ASB), a division of ASB Capital Management, LLC, is a leading U.S. real estate investment management firm with more than $8.5 billion in gross assets under management for over 325 institutional clients. Headquartered in Washington DC, ASB invests in major U.S. markets, concentrating in office, multifamily, retail, industrial and self-storage properties and employs core, value add and development strategies for its clients.

*as of September 30, 2021
The information provided in the release does not constitute an offer to sell or buy securities or the solicitation of an offer to sell or buy securities.

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