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SAVANNAH, GA-Reno, NV-based DP Partners has entered the metro-area market with the acquisition of 1,810 acres where it plans to build two class A industrial parks with more than six million sf of space.

The developer has signed a letter of intent to acquire a 1,738-acre parcel in Meldrim, eight miles west of the Interstate 16/Interstate 95 interchange and 15 miles west of the Port of Savannah. Of the land, only 640 acres is developable. The land is currently owned by Effingham County Industrial Development Authority, which has been working with DP over the past six months to create an industrial park.

The land will be developed in phases over five to seven years. The first phase, on 140 acres, will include a $200-million park called LogistiCenter at Savannah with five million sf of space including eight to 15 facilities, depending on market demand. DP plans to build its first speculative building, a 400,000-sf distribution center, within the next two years. "In the meantime, there is much to do. The land must be rezoned from commercial/agricultural to light industrial; water, sewer and power must be brought to the site; road infrastructure improvements must be made," says DP regional director Stephen Bailey.