Mount Laurel-based NAI Mertz, a commercial real estate firm, announced Thursday that East Rutherford-based Pioneer Logistics Systems, a startup logistics company specializing in the print and media industries, has leased an industrial facility in Savannah, Georgia.
Pioneer leased the space to meet business demand in the South, Mertz said.
The property, located at 200 S.H. Morgan Parkway, is comprised of 356,831 square feet.
In a second deal immediately following the lease, Mertz said it sold the building to an investor for $25.5 million. Mertz represented the tenant in the lease and the buyer in the sales transaction.
“Industrial product along the east coast is experiencing a velocity that is unparallel to any other commercial real estate sector due to the heightened demand from the logistics and distribution industries. I am pleased to have worked with these stellar companies to bring a quality company to the community and also to help the original building owner meet its business goals,” Scott Mertz, president of Mertz, said.