Barings and Trinity Capital Commence Phase II Construction
Barings and Trinity Capital are excited to announce the start of construction for Phase II at Horizon 16 Industrial Park, a pivotal joint venture logistics park located in Savannah. This phase plans to expand the project with six new buildings encompassing a whopping 1.5 million square feet of top-tier industrial space. It aims to cater to the increasing demands of regional, national, and international businesses involved in distribution, manufacturing, and logistics.
Strategic Location and Infrastructure
Positioned strategically on Jimmy Deloach Parkway and Interstate 16, Horizon 16 Industrial Park is one of the last available land parcels that can facilitate bulk distribution within 15 miles of the Port of Savannah. This location offers unmatched access to major East Coast markets, further enhancing the site's attractiveness for logistics and distribution operations. Moreover, this expansion builds upon Barings’ successful completion of Phase I, which provided 1.1 million square feet of space across three already leased buildings.
Commitment to Quality and Growth
Maureen Joyce, the Head of US Real Estate Equity at Barings, expressed excitement about this new venture, stating the partnership with Trinity Capital aligns with Savannah's strong industrial fundamentals. She noted that the proximity to essential infrastructure plays a key role in their decision to expand. Jordan Quinn from Trinity Capital echoed this sentiment, highlighting the commitment to developing high-quality industrial spaces in high-demand growth markets, particularly as they branch into new areas.
Working Together for Success
The collaboration between Barings and Trinity Capital goes beyond this single project, as they also successfully developed 85 Exchange, a 1.3 million square foot industrial park in North Carolina, with prominent tenants such as Amazon. This partnership showcases their capability to meet the evolving needs of modern businesses in strategic markets.
Leasing and Construction Teams
Handling leasing for the Horizon 16 project is CBRE’s William Lattimore, who will play a vital role in attracting tenants to this expansive new space. Furthermore, the construction aspect will be overseen by Evans, serving as the general contractor, while Atlas is engaged as the project’s architect, ensuring that the development meets the highest standards of quality.
About Barings
Barings is recognized as a significant player in global asset management, boasting over $421 billion in assets under management. Their mission focuses on delivering flexible financing solutions to institutional clients while leveraging their global scale across diverse market sectors including fixed income and real assets. They are a subsidiary of MassMutual, dedicated to generating returns through their extensive reach and expertise.
About Trinity Capital
Trinity Capital Advisors specializes in the acquisition and development of high-quality commercial real estate throughout the southeastern United States. They have made impressive strides with over $4.5 billion invested in developing successful workspace projects across a vast area that includes North Carolina, South Carolina, Tennessee, and Florida. Their developed portfolios include a mix of industrial, office, and mixed-use projects backed by several top institutional investors.
Frequently Asked Questions
What is the focus of Phase II construction at Horizon 16 Industrial Park?
Phase II focuses on constructing six buildings totaling 1.5 million square feet of Class-A industrial space tailored for distribution, manufacturing, and logistics companies.
Why is the location significant for Horizon 16 Industrial Park?
The park's proximity to the Port of Savannah and major East Coast markets is crucial for businesses requiring bulk distribution capabilities.
What companies are involved in the construction and leasing of the project?
Barings oversees asset management, while Trinity Capital handles development. CBRE manages leasing, and Evans and Atlas are involved in construction and architecture respectively.
What past projects have Barings and Trinity Capital collaborated on?
The partnership has seen successful projects like 85 Exchange, a significant industrial park in North Carolina with notable tenants such as Amazon.
What is Barings' investment strategy?
Barings aims to provide flexible financing solutions to institutional clients while striving for excess returns by leveraging their global presence across public and private markets.
