PRP, TPG Group Sell 604,930 SF Distribution Center in Savannah for $32.9M

by John Nelson

SAVANNAH, GA. — PRP LLC and Atlanta-based TPG Group have sold Interstate Center II, a 604,930-square-foot distribution facility in Savannah. An affiliate of Gramercy Capital purchased the property for $32.9 million. The property was owned in partnership between one of PRP’s comingled investment funds and TPG Group. Built in 2009 on a 54-acre parcel, the property features 32-foot clear heights and cross-dock loading. Interstate Center II was fully leased this summer to tenants including Ameriwood Industries, a subsidiary of Montreal-based Dorel Industries.

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