Becknell Acquires 430 Acres in Savannah
CHICAGO, July 19, 2021 (GLOBE NEWSWIRE) -- Becknell Industrial is excited to announce the acquisition of 430 acres for the development of a six-building, 4.8 million-square-foot, state-of-the-art industrial park in Savannah, Georgia. Phase I construction has commenced at the Old Augusta Commerce Center (“OACC”) which will feature two buildings measuring 1,026,606 and 442,606 square feet. Located 10 miles from Savannah’s Garden City Terminal and just minutes from I-95 and I-16 directly via Route 21 (a/k/a Old Augusta Rd), OACC is a premier location for users seeking space in the Southeastern US.
“This project is exciting and important to Becknell on many levels. With this 430-acre investment, Becknell is jumping headlong into one of the fastest growing, most vital industrial markets in the country. The Old Augusta Commerce Center represents a long-term commitment to Savannah that will add 5 million square feet of buildings and thousands of jobs to the Savannah market. The entire Becknell organization is extremely proud of this new endeavor and we look forward to growing our presence in Savannah,” said Dan Fogarty, Executive Vice President of Development for Becknell.
OACC will allow Becknell to address the demand of the fastest growing and 2nd busiest port on the U.S. Eastern Seaboard. The Port of Savannah’s Garden City Terminal is the largest single-terminal container facility of its kind in North America that serviced 4.68 million twenty-foot equivalent units (“TEU”) in 2020. Over the next decade, the Georgia Ports Authority plans to expand the current capacity of 5.5 million TEU’s per year to 8 million TEU’s. Savannah provides excellent connectivity to the growing southeast population, with 80% of the US population within two days by truck.
Chris Tomasulo, Bennett Rudder and Ryan Hoyt of JLL represented both the land seller and Becknell in the transaction and will be the leasing agents on the project.
About Becknell Industrial
Becknell Industrial specializes in the development, investment and management of industrial properties across the United States. The company currently owns interests in 185 properties totaling more than 30 million square feet. Vertically integrated, Becknell is responsible for every aspect of the project providing the decision-making authority and expertise to meet client expectations for a high-performance facility delivered on time and on budget. More information about Becknell is available at www.becknellindustrial.com.
Shona Bedwell – Becknell Industrial
SVP – Marketing & Corporate Communications