Investors are adding industrial space to meet booming demand in Savannah GA, with more than 1.7 million square feet of warehousing recently completed, more than 1.9 million square feet under construction, and a 2,700-acre development just announced. The investments mean more jobs, and room for port customers to grow in the southeastern United States.
“These commitments by the private sector on numerous commercial real estate projects show confidence in the continued success of Savannah as a cargo hub for the US Southeast,” said Georgia Ports Authority Executive Director Curtis Foltz. “As Savannah’s logistical advantages continue to draw new customers to Georgia, demand should remain strong for additional industrial space.”
Foltz said the market requires higher vacancy rates to ensure space upon demand for customers that do not have the luxury of time for construction. Currently, seven major projects are being developed.
Counting all industrial space, including manufacturing, the Savannah market comprises just over 46.4 million square feet, with 1.4 million square feet (3.04%) vacant.
Recent announcements in the Savannah market include:
•Nordic Cold Storage opened its new facility April 15, expanding by 200,000 square feet.
•Rail provider and industrial real estate company OmniTRAX announced in March plans for a 2,700-acre industrial park within minutes of the Port of Savannah. In a public-private partnership with the Effingham County Industrial Development Authority, OmniTRAX will develop the megasite, which is served by both Norfolk Southern and CSX Transportation railroads.
•OA Logistics/JLA Home will soon open its 1.1 million-square-foot e-commerce fulfillment center at Northport industrial park on Georgia Hwy 21 near Interstate 95. This development will add 200 to 300 jobs. The company already operates a 679,000-sq-ft distribution center in Savannah.
•The TPA Group has a 475,000-sq-ft warehouse under construction at Northport.
•The Panattoni Development Company is building a 312,000-sq-ft building in the Westport trade park, just off Georgia Hwy 307/Bourne Avenue in Garden City. Meanwhile, a 320,000-sq-ft structure has been built at Centerpoint Industrial Park.
•Port City Logistics, with the construction of a 250,000-sq-ft warehouse on Jimmy Deloach Parkway.
•In the Pooler Distribution Complex at Old Louisville Road and Highway 80, several buildings ranging from 22,000 to 88,000 square feet are under construction, as well as a 240,000-sq-ft structure.
•In January, Georgia Marine Warehouse Inc., an affiliate of Peeples Industries Inc, opened a 100,000-sq-ft warehouse on Tremont Road, just four miles from Garden City Terminal, with another 60,000 square feet under construction.
For more information, go to www.gaports.com.