Argosy Real Estate Partners Acquires Industrial Outdoor Storage Property in Savannah, GA
We are pleased to announce that Argosy Real Estate Partners has closed on the off-market acquisition of 4405 Tremont Road, an approximately 14.8-acre Industrial Outdoor Storage (“IOS”) property with two existing service facilities totaling 21,800 sf (3% coverage) on an urban infill site in Savannah, GA. The property offers heavy industrial zoning, close proximity to the Port of Savannah, rail access via an on-site rail spur, and convenience to major area interstates. The business plan is to complete a capital improvement program and lease the property at market rates.
Argosy’s co-investor and operating partner is Bay Street Capital, a leading IOS platform that specializes in value-add IOS and industrial real estate investments throughout the United States. The property represents the first IOS investment in a portfolio aggregation strategy with Bay Street Capital which will target strategically located properties within demographically compelling and supply-constrained markets that serve as mission-critical sites for IOS users.