CenterPoint Acquires Prime Port-centric Land Site in Savannah, Georgia
Posted By Staff Writers On September 2, 2020 @ 11:20 am
OAK BROOK, IL – CenterPoint Properties has acquired a land site in the 2100 – 2200 blocks of Georgia State Highway 307 (Dean Forest Road) in Savannah, GA. The 72.81-acre site is just 3 miles from the Port of Savannah, less than 5 miles from the Savannah/Hilton Head International Airport and has proximate access to I-16 and I-95.
Demand in the supply-constrained Savannah market is strong for smaller, single-loaded and port-proximate warehousing. By acquiring one of the closest available raw land sites to the rapidly growing Port of Savannah, CenterPoint can fulfill the market’s need for Class A warehouse space with abundant parking and additional container yard space.
“This site offers us the unique ability to build a modern facility with plenty of space for parking and storage – as much as 15 acres of additional trailer parking and storage. The market is demanding it, so we’re thrilled to build a new facility from the ground up so close to the Port,” said Brian Hollings, CenterPoint Vice President of Development.
Ronel Borner, CenterPoint Senior Vice President of Development, added: “Savannah is one of our target markets because it has such strong economic fundamentals. The Port of Savannah continues to be a major economic driver with TEU volumes expected to continue being strong in 2021 and in the long-term. This asset will be a great complement to our portfolio there that already includes the CenterPoint Intermodal Center – Savannah.”
When it’s completed, the park will add approximately 650,000 SF of Class A assets to the CenterPoint portfolio.
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About CenterPoint Properties
CenterPoint is an industrial real estate company made up of dedicated thinkers, innovators and leaders with the creativity and know-how to tackle the industry’s toughest challenges. And it’s those kinds of problems—the delicate, the complex, the seemingly-impossible—that we relish most. Because with an agile team, substantial access to capital and industry-leading expertise, those are exactly the kinds of problems we’re built to solve. For more information on CenterPoint Properties, visit centerpoint.com, follow @CenterPointProp on Twitter or engage with us on LinkedIn.