SAVANNAH, GA. — Atlanta-based Capital Development Partners has started construction of Central Port Logistics Center at Rockingham, a 5.4 million-square-foot speculative industrial development in the coastal Georgia city of Savannah.
Central Port Logistics Center at Rockingham will consist of seven buildings, with Phase I of the project comprising a roughly 1.1 million-square-foot cross-dock warehouse. According to the development team, that building will be the largest warehouse ever constructed on a speculative basis in Savannah.
Completion of Phase I is slated for 2023. Phase II of the project will feature a 982,000-square-foot, rail-served building, a construction timeline for which was not disclosed. Subsequent phases of the project will deliver both cross-dock and rear-load storage and distribution facilities.
“Central Port Logistics Center at Rockingham is the last large-scale industrial infill site in Savannah with unmatched access to the port, excellent rail service and immediate connectivity to major highways,” says John Knox Porter Jr., CEO of Capital Development Partners. “These facilities will provide a significant location advantage for our customers.”
Bill Sparks, executive vice president of CBRE’s Savannah office, which is marketing the development for lease, also said that the proximity and access to various pieces of major infrastructure would be a game-changer for end users at the site.
“Central Port Logistics Center straddles a new interchange on Veterans Parkway, offering a direct route to the port with limited traffic signals,” says Sparks. “We estimate our customers will achieve 10 turns per day or more to the port from our project. It’s an extremely efficient facility for high-speed port logistics.”
Capital Development Partners is constructing the project in a joint venture with undisclosed equity partners. CBRE’s research states that Savannah has an industrial vacancy rate of just 0.7 percent, making it one of the tightest markets in the country.
— Taylor Williams