Interstate Center II, located 20 miles from the Port of Savannahat Interstate 16 and US 280, will be part of a planned portlogistics center that will occupy more than 500 acres. The initialcross-dock warehouse will take up 54.5 acres at the site.

The JV partners are investing approximately $8.1 million equityinto the Savannah project announced Thursday, along with $15million financing from third-party debt. J. Brad Smith, principalof both the TPA and Resource segments, says demand for industrialspace in the Savannah market is projected at up to three million sfper year.

Washington, DC-based Perseus manages PRP II, which is expectedto deliver $800 million in purchasing power over the next 12 to 18months and is focused on value-add opportunities in middle marketsacross all commercial real estate asset classes. GlobeSt.comreported inApril that Loren Balsam, a 17-year industry veteran, was hiredas the fund's managing director.