December 10, 2021

Richmond Hill, Georgia — December 10, 2021

Today, Xebec announced plans to develop 1.6 million square feet of Class A industrial space at the Belfast Commerce Park, in Heartwood. The rise of eCommerce and the re-shoring of manufacturing to American soil has created significant demand for industrial real estate. Xebec’s plans include two Class A industrial buildings (1.04 million square feet and 553 thousand square feet), to be marketed for lease to single tenants. Development is expected to be completed by Q2 2023.

“We’re very excited to start development in Richmond Hill and can’t say enough about the City, Bryan County, and the Savannah area as a whole,” says Brooks King, Vice President-Southeast Region, Xebec. “With great market fundamentals and a surging demand for Class A industrial space in the market, Savannah/Richmond Hill has been a part of Xebec’s vision for a long time. With the tremendous volume growth at the Port of Savannah and the talented labor pool of Bryan County and the surrounding areas, it’s easy to see why companies are flocking to the area. We are very excited to be a part of it.”

Proximity to I-95, I-16, Georgia Ports, Savannah-Hilton Head International Airport, rail access, and a competitive and qualified workforce make Heartwood at Richmond Hill an industrial site selection dream. Belfast Commerce Park is home to many regional, national and international manufacturers and suppliers.

THE Heartwood UPSHOT: these facilities could add several hundred jobs to Richmond Hill and Bryan County.

“Our intent at Heartwood is to create a place where symbiotic relationships are built. Companies like Xebec have the opportunity to expand their footprint in an area where growth is organically happening, and the community has the ability to support the livelihood and lifestyle desired by so many,” says Bill Cunningham, Vice President of Real Estate for Raydient Places + Properties, developer of Heartwood. “The positive economic impact for Richmond Hill and Bryan County will be the cherry on top. We are excited that Xebec’s leadership will plant their roots here. They’ve shown a genuine interest in becoming an active part of our community.”

About Xebec

Xebec, a U.S. based privately-held real estate company, focuses exclusively on providing real estate investment opportunities to institutional and private wealth investors through its vertically integrated and full-service platform providing real estate acquisition, development, ownership, financing, leasing, property management (principally through local third-party property managers) and real estate investment management services. Xebec focuses on fulfillment, warehouse and distribution centers (bulk logistics), light industrial and infill/last-mile properties. Xebec currently has projects at various stages of development spread across multiple states. Learn more about Xebec at https://xebecrealty.com/.

About Heartwood

Imagined as the new part of a historic town, inspired by the beauty and durability of the forests, Heartwood is a new community in Richmond Hill, Georgia. Heartwood at Richmond Hill offers a lifestyle that will span the generational needs of people and the ever-evolving needs of business. Whether you are growing a family, growing an entrepreneurial dream, expanding your business footprint, or just looking to mature somewhere that has it all, Heartwood is a place to live, work, and play in one location. Heartwood is being developed by Raydient Places + Properties, a taxable subsidiary of Rayonier Inc., a real estate investment trust. To learn more about Heartwood, email us at: marketing@heartwoodlife.com

About Raydient

Raydient masterplans, develops, builds, markets and sells “places and properties” ranging from multi-use communities and industrial parks to rural homesteads and recreational lands. Raydient is a taxable subsidiary of Rayonier (NYSE:RYN), a leading timberland real estate investment trust with assets located in some of the most productive timber growing regions in the U.S. and New Zealand. When the real estate market demands a higher and better use for a property, our team steps in to transition that timberland for its future purpose. Get to know us at www.raydient.com.