ATLANTA—McCraney Property Company is expanding its footprint throughout the Southeast. The firm acquired 22 acres in Savannah, GA, to develop a 345,600-square-foot class A industrial building.
The property, dubbed 95 Logistics @ Pooler Parkway, sits at a “main and main” location for industrial growth with ingress/egress to Interstate 95 and Interstate 16. 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.
“As we expand throughout the Southeast US, we continue to be drawn to markets like Savannah which is experiencing robust growth,” Steven McCraney, president and CEO of McCraney Property Company, tells GlobeSt.com. “Having grown up in nearby Jesup, Georgia, we are pleased to see the growth of the overall market as exemplified by the port's improved infrastructure and strong activity. Our development at this ideal location near Interstate 95 and Interstate 16 with easy access to the port and airport will help support this growth.”
Steve Croy, principal of Croy Group, represented McCraney during the Savannah land acquisition. The transaction comes on the heels of McCraney announcing 1.7 million square feet of industrial projects under development or planned in Atlanta, Charlotte, and Rockhill, SC.
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.
“Savannah's expanding port continues to fuel the environment for the success of large logistics companies,” says McCraney. “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.”
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