Stay Oak Logistics Middle. Picture courtesy of Seefried Properties
Seefried Properties has begun web site work for its 287-acre Stay Oak Logistics Middle in Savannah, Ga., a facility that’s deliberate to incorporate greater than 4 million sq. toes of Class A distribution and manufacturing house.
The location is on Dean Forest Highway, lower than a quarter-mile north of I-16 and about 3 miles from I-95. It’s additionally inside 6 miles of the Georgia Ports Authority’s Backyard Metropolis Terminal, the third-largest and reportedly the fastest-growing container terminal within the U.S.
Stay Oak Logistics Middle can be 15 miles from the Hyundai electrical automobile meeting and battery manufacturing unit that’s scheduled to open in 2025.
The campus will finally function a complete of 5 build-to-suit and speculative buildings starting from 252,000 to almost 1.4 million sq. toes. The primary speculative constructing, of 669,760 sq. toes with a cross-dock configuration, is scheduled for supply within the fourth quarter of 2023.
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Stay Oak’s buildings will function 40-foot clear heights in addition to, in line with Seefried, beneficiant full concrete truck courts with ample auto and trailer parking.
In a ready assertion, Greg Herren, senior vice chairman & COO of Seefried, known as the Stay Oak location “one of many largest infill websites in Savannah with unmatched entry to the port and rapid connectivity to main highways.”
Leasing shall be led by Stephen Ezelle and Bob Robers of Cushman and Wakefield.
Surge by the ocean
Only a week in the past, TerraCap Administration introduced its buy of a 790,000-square-foot industrial property in Rincon, Ga., which was TerraCap’s second buy of a constructing this yr within the Savannah Gateway Industrial Hub.
At 58 million sq. toes, the Dean Forest/Pooler submarket encompasses greater than half of metro Savannah’s 94 million sq. toes of business house. Whereas the metro space has a complete availability of 13.1 p.c, the submarket enjoys an availability of simply 6.3 p.c, in line with a third-quarter report from JLL.
Each the metro and the Dean Forest/Pooler submarket face a surge in deliveries, nonetheless, with 22 million sq. toes of house underneath development throughout the Savannah area and seven.5 million of that within the submarket, JLL stories.
