Stonemont Financial Group, a private real estate investment firm specializing in industrial development, acquisitions and net lease investments, announced today that it has secured a 733,200-square-foot lease for all of Building 4A at Georgia International Trade Center (GITC) in Effingham County, Georgia. The warehouse is the latest building to deliver at the 1,150-acre industrial park outside of Savannah, which Stonemont is developing as part of a joint venture with The Davis Companies and Chesterfield.
Building 4A is a cross-dock facility with a 40’ clear height, 175 dock-height doors, four drive-in doors and 208 trailer parking stalls. Armstrong Logistics Inc, a warehousing and logistics service provider based out of Walnut, California, will expand its east coast operations with its presence at GITC. Building 4A is the 10th warehouse Stonemont has built at the park, and every building has been pre-leased before completion. This totals nearly 8 million square feet of development.
“Since purchasing the land in 2018, we have seen tremendous pre-leasing demand at each building within the park,” said Neal Moskowitz, senior vice president and principal at Stonemont. “Securing a lease before each building delivers at a development this size is unheard of, and we believe this is a testament to our ability to identify advantageous locations in close proximity to ports and major transportation routes that attract a variety of users. We’re grateful to have valued partnerships with Chesterfield and Davis that played an instrumental role in bringing GITC to life, and we are thankful to the Effingham and Chatham County officials for making this entire development and leasing process so successful.”
GITC is strategically located within close proximity to the Port of Savannah, which moved 11.4% of the nation’s loaded international containers for the 2023 fiscal year, more than 2 million TEUs. As the nation’s fourth-ranked busiest port, it continues to serve as a magnet for retailers and manufacturers from across the country seeking to strengthen their logistics networks by concentrating activity in a region known for its low cost of doing business, deep labor pool and premier access to major rail lines and highways.
Scott Mertz, SIOR of NAI Global served as the broker in the transaction. Additional partners for the project include Omega Construction as the general contractor, Atlas Collaborative as the architect and Thomas & Hutton as the civil engineer. Stephen Ezelle of Cushman/Gilbert & Ezelle are handling all leasing on this project.
