Capital Development Partners Breaks Ground on $125 Million Savannah Port Logistics Campus
SAVANNAH, Ga.--(BUSINESS WIRE)--Jun 19, 2018--Capital Development Partners has broken ground on the Savannah Port Logistics Center.
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The 2.3 million-square-foot, $125 million logistics campus is being developed to meet the needs of import, export and e-commerce customers of the Port of Savannah, the fastest growing and largest single-container port in the U.S.
The “Ground Breaking” video ( http://www.savannahportlogisticscenter.com/video ) highlights the proximity to the port, interstate highways and rail.
“The Savannah Port Logistics Center is the most significant industrial and logistics development in the southeast,” said John Knox Porter, CEO of Capital Development Partners. “Our facilities and infrastructure will provide a significant advantage for our customers.”
The Savannah Port Logistics Center will feature multiple routes to the port and access to major Interstates (I-16 to Atlanta and the Midwest and I-95 up the eastern seaboard). The 190-acre industrial campus will offer dual rail service, transload capability and more than 2,000 container storage positions. The dual rail capability will allow customers to ship via Norfolk Southern and CSX Tier 1 railroads.
The massive demand for modern industrial and logistics facilities is fueled by the widening of the Panama Canal and the global e-commerce boom. The enhanced Panama Canal allows ships to triple capacity providing a significant cost/productivity advantage for the Savannah Port.
Building I is a 1,075,000-square-foot industrial facility featuring a 40-foot ceiling, cross dock capability and dual rail service ready for occupancy in April 2019.
Building II is a 1,310,400-square-foot industrial facility featuring a 40-foot clear ceiling, cross dock capability and dual rail service. Construction is expected to begin on Building II in late 2018.
The Savannah Port Logistics Center is a joint venture between Capital Development Partners and Greenfield Partners, a $3 billion real estate investment management firm.
Capital Development Partners CEO John Knox Porter has extensive expertise in developing major industrial and infrastructure projects in the U.S. He is a former top producer at CBRE where he led the global logistics and infrastructure practice groups during his 25 year career with that company. Porter has completed significant projects in every major market in the U.S. with deep local roots in the Savannah market.
ABOUT SAVANNAH PORT LOGISTICS CENTER: Savannah Port Logistics Center is a 2.3 million-square-foot logistics campus providing easy access to the Savannah Port with dual rail service connection and quick access to I-16, I-95, Hwy 80, Jimmy Deloach Parkway and Pooler Parkway. This landmark 190-acre site less than 10 miles to the Savannah Port will feature transload, cross dock, high cube and container storage facilities.
ABOUT CAPITAL DEVELOPMENT PARTNERS: Capital Development Partners is a national developer of industrial and infrastructure facilities with a strong track record of success and satisfied customers. The company is developing e-commerce, high speed distribution, light manufacturing facilities and infrastructure in the top U.S. gateway and constrained markets.
ABOUT GREENFIELD PARTNERS: Greenfield Partners is a private equity real estate firm headquartered in Westport, CT, with $3.3 billion in gross assets under management. Over its 20-year history, Greenfield has invested over $5 billion in equity across multiple investment types including 25 million square feet of industrial, 6.6 million square feet of air cargo assets, 27 million square feet of office space, and 41 hotels, and 7,500 multifamily units.
View source version on businesswire.com:https://www.businesswire.com/news/home/20180619005254/en/
CONTACT: Capital Development Partners
John Knox Porter, 404-229-4852
Abshire Public Relations
Susan Hancock, 912-844-9549
KEYWORD: UNITED STATES NORTH AMERICA GEORGIA
INDUSTRY KEYWORD: ONLINE RETAIL SUPPLY CHAIN MANAGEMENT TRANSPORT MARITIME RAIL OTHER TRANSPORT LOGISTICS/SUPPLY CHAIN MANAGEMENT REIT RETAIL CONSTRUCTION & PROPERTY COMMERCIAL BUILDING & REAL ESTATE
SOURCE: Capital Development Partners
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PUB: 06/19/2018 07:40 AM/DISC: 06/19/2018 07:40 AM