This case study highlights EIP's strategic vision, focus on long-term tenant relationships, and the development of a state-of-the-art distribution warehouse facility.
Strategic Acquisition and Single-Tenant Partnership
In 2021, EIP acquired 115 Pinder Road, a single-tenant building, with a forward-thinking strategy for long-term opportunity to enter a new market having never owned in the quickly growing Port of Savannah. The property's prime location and familiarity with the tenant were highly attractive to EIP. The acquisition was purchased through a 1031 exchange, and a strategic partnership was established with the tenant, RoadOne IntermodaLogistics.
Strategic Location and Development Potential
The property comprises three lots: Lot 1, the building lot, is situated on 36.6 acres, while Lots 2 and 3 serve as trailer parking lots, occupying 10 acres and 40.76 acres, respectively. The 526,932 square foot distribution warehouse was designed to accommodate the needs of modern intermodal shipping operation. With over 700 trailer spots available and expansion potential on the trailer lot, the property represents a significant opportunity for RoadOne IntermodaLogistics to establish a robust and efficient distribution center and for EIP to enhance its returns.
Long-Term Hold Opportunity
The acquisition of 115 Pinder Road was strategically chosen for its long-term hold potential. The property's close proximity to the Port of Savannah offers a strategic advantage in terms of access to major transportation routes. The warehouse's location, combined with a secure long-term lease agreement, creates a solid foundation for sustainable growth and value creation.
Best-in-Class Build and Tenant Partnership
The construction at 115 Pinder Road meets the highest industry standards. With a focus on best-in-class design and functionality, the facility ensures optimal efficiency for RoadOne IntermodaLogistics' operations. The long-term tenant partnership with RoadOne further solidifies the property's value and provides a reliable income stream for EIP.
The case study of 115 Pinder Road in Wentworth, GA, demonstrates Equity Industrial Partners' commitment to growing in strategic markets and quality construction and tenant relationships.