LI firm expands Savannah portfolio with $75M acquisition

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The Blueprint:

• Sanders Equities closes $75 million Savannah acquisition
• Portfolio includes five industrial properties near Port of Savannah
• Acquisition increases Savannah holdings to over 1 million square feet
• Jordan Sanders and team lead expansion strategy

Less than three years after Sanders Equities entered the industrial market in Savannah, Georgia, the company has doubled down with a new $75 million acquisition.

The Jericho-based commercial real estate investment and management firm just closed on its purchase of a five-property industrial portfolio that serves the area around the Port of Savannah, the third largest and fastest-growing container port in the U.S., according to the company.

The fully occupied Portside V Portfolio, which had been owned by publicly traded logistics giant Prologis, totals 737,000 square feet on 52 acres. The acquisition, Sanders Equities largest ever, follows the firm’s $34 million purchase of two Savannah properties totaling 305,400 square feet on 25 acres in Nov. 2023, which brings the company’s Savannah industrial holdings to more than 1 million square feet.

“Savannah has been a conviction market for us since we first entered in 2023, and the Portside V Portfolio represents exactly the type of infill, well-leased industrial asset we have been targeting,” said Jordan Sanders, president of Sanders Equities. “Crossing 1 million square feet in a single market is a meaningful milestone for our company—one that reflects both the strength of the Savannah logistics corridor and our confidence in its long-term fundamentals.”

The Savannah acquisition includes the 195,000-square-foot building at 318 Grange Road; the 175,000-square-foot 190 Gulfstream Road; 150,000-square-foot 198 Gulfstream Road; 100,800-square-foot 194 Gulfstream Road; and the 116,250-square-foot building at 405 Expansion Blvd.

Sanders said Craig Dowd, the company’s executive vice president and Ted Pupilla, director of property operations at Sanders Equities, were instrumental in the new Savannah acquisition.

“Craig, Ted, and the entire Sanders team are the reason we are able to move forward on this acquisition with conviction,” Sanders said. “Craig’s market knowledge and analytics gave us a clear picture of where this portfolio sits in the competitive landscape, and Ted’s hands-on assessment of these buildings, their condition, their functionality, their long-term operability, gave us the physical confidence to match.”

Sanders Equities, which also has an office in Greenwich, Conn., was founded by Jordan Sanders’ dad Arthur Sanders in 1999, after leading Spiegel Associates for 14 years. The company now owns about 2.5 million square feet on Long Island and in Georgia.

“Our desire to diversify our holdings outside of the Long Island market landed us on Savannah after a lengthy investigation,” said Arthur Sanders, the company’s chairman. “Jordan identified Savannah as most aligned with our general philosophy of risk-adjusted growth, and he has put a team together that allows us to offer the same high-level, hands-on management that we have always employed for our local portfolio.”

Carrying on his father’s philosophy, Jordan Sanders has accelerated the company’s strategy of owning well-located industrial acquisitions, with Savannah serving as the central pillar of its growth.

“My father built this company on the belief that real estate, done right, is a generational asset,” Sanders said. “Every decision we make is informed by that principle. The expansion into Savannah is not a departure from our roots; it is an expression of them. We are building something that is meant to endure, and I am proud of what this team has accomplished.”

Sanders Equities was self-represented, while the JLL Southeast Capital Markets Team represented the seller, Prologis, in the Savannah sales transaction.

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