NNN Pilot Ground Lease (20 Years)
I-16 & Highway 280
Ellabell, GA 31308
Highlights
- NNN Pilot Ground Lease (20 Years)
- Berkshire Hathaway owns 80% of Pilot
- Lease Term: 03/01/24 to 02/29/44
- NOI: $360,000; 5% Capitalization Rate
- ±10-Acre Interstate Site (I-16 @ Exit 143)
- Directly Across from Hyundai EV Metaplant
Description
SVN is pleased to present an opportunity to acquire fee simple ownership of a NNN Pilot Ground Lease, which is majority owned by Berkshire Hathaway in Bryan County, Georgia within the Savannah MSA. The site is located at the NE quadrant of I-16 and Highway 280, which is directly across from the Hyundai EV Plant and represents a direct investment of $5.5 Billion while suppliers and vendors represent an additional $1.5 Billion to date.
The NNN ground lease commenced March 1, 2024 for a period of (20) years with an expiration date of February 29, 2044. Net Operating Income is $360,000 annually in years 1 through 5 with increases in Year 6 and every 5 years thereafter. The project is now completely built out and the business opened on July 20, 2024.
The site is located in Bryan County, Georgia, a submarket of Savannah at Exit 143 on I-16, which is (14) miles from the interchange of I-95 & I-16. The strategic position of this site is directly related to the proximity of a number of industrial and manufacturing developments that have continued to expand due to Savannah’s explosive Port Growth.
