Less than 2 percent vacancy and record port activity in Savannah underscore high demand for McCraney’s first industrial project in the market
Savannah, GA – McCraney Property Company, the most active independently-owned developer of high-finish industrial properties in Florida, strategically expanding its footprint throughout the Southeast U.S., acquired 22 acres in Savannah, Georgia, to develop a 345,600-square-foot Class A industrial building. The property, dubbed “95 Logistics @ Pooler Parkway”, is well positioned at a “main and main” location for industrial growth with tremendous ingress/egress to Interstate 95 and Interstate 16, providing exceptional access to the Port of Savannah and major east coast distribution hubs.
The proposed industrial development of 95 Logistics @ Pooler Parkway is a front-loaded building with 32-foot clear height, approximately 48 dock high doors, and 100 tractor trailer parking spaces. To mitigate lease-up risk, the building’s design will allow for the option of subdividing the space for tenants ranging in size from 100,000 to 345,600 square feet.
“Savannah’s expanding port continues to fuel the environment for the success of large logistics companies,” said Steven McCraney, President and CEO of McCraney Property Company. “The port has the necessary infrastructure in place to support high traffic without congestion as well as available land for much growth in the coming years. Now is the ideal time to enter the Savannah market, and the development provides the ideal location for industrial users who will be drawn to its easy access to the Savannah Port, the Savannah Airport, and Georgia’s main interstate arteries offering connectivity throughout the Southeast.” Steve Croy, Principal of Croy Group, LLC, represented McCraney Property Company during the Savannah land acquisition. The transaction comes on the heels of McCraney Property Company announcing 1.7 million square feet of industrial projects under development or planned in Atlanta, Georgia; Charlotte, North Carolina; and Rockhill, South Carolina; with Principal-Managing Director Dave Williams providing oversight.
“As a firm, we exclusively focus on industrial development throughout the Southeast,” added McCraney. Savannah, its people and their commitment to stable, smart growth complemented by the ports outstanding infrastructure make us proud to be a contributor to the market.”
According to recent market reports, Savannah has experienced year-to-date absorption of over 817,000 square feet. With over 50-million-square-feet of industrial space, Savannah continues to experience remarkable growth due to a record increase in container shipping through the Port of Savannah which is the nation’s fastest-growing and fourth-largest port and has recently emerged as a leader in global commerce shipping.
With rising demand causing historically low vacancy rates and record absorption activity, new construction is the only way for Savannah to sustain its current rate of growth fueled by e-commerce and its hub-and-spoke locational requirements,” said Croy. “We are pleased to have facilitated McCraney Property Company’s land acquisition for its first industrial project in this robust market.”
Specializing in industrial real estate development, e-commerce distribution facilities, management, and private acquisition throughout the Southeast, McCraney Property Company has completed or is under construction on nearly 5 million square feet of speculative industrial space. 95 Logistics @ Pooler Parkway’s design elements will incorporate McCraney Property Company’s signature clean facades and high-finish benchmark-setting product, targeting high-quality end-users requiring freight forwarding and fulfillment needs while also seeking a business location that evokes a sense of place.