Savannah Business Park Lands 1.2 MSF in Leases

Southeast Gateway – Building 2. Image courtesy of Conor Commercial Real Estate

Conor Commercial Real Estate has signed two full-building leases at its Southeast Gateway in Savannah, Ga. The 1.2 million-square-foot Class A industrial project, scheduled for completion in the second quarter of 2022, was developed in a joint venture with WHI Real Estate Partners LP and is now fully leased. The project received $51 million in construction financing from CIBC Bank USA, CommercialEdge data shows.

McShane Construction Co. provided design-build services for the development. Swiss Madison will occupy the 184,080-square-foot Building 1, while an integrated logistics company, Maersk Warehousing and Distribution Services, will occupy the roughly 1 million-square-foot Building 2. The industrial development’s interior construction for the tenants is now underway, with occupancy planned for later in the month.

A new industrial park near the Port of Savannah

Located at 400 and 450 Fort Argyle Road, Southeast Gateway’s Building 1 offers 38 dock doors, 32-foot clear heights, 50 trailer parking spots and two drive-in doors, while the cross-dock Building 2 features 177 dock doors, 318 trailer parking spots, 40-foot clear heights and four drive-in doors. Both buildings are equipped with ESFR sprinklers and offer car parking.

Situated on a 137-acre lot, the industrial campus is close to interstates 95 and 16, 13.8 miles from Savannah-Hilton Head International Airport and 18 miles from the Port of Savannah. The entire project’s preleasing prior to the completion of construction was due to its accessibility to the Port of Savannah area, said Conor Executive Vice President Brian Quigley in prepared remarks.

Colliers’ Savannah Office Principal Hilary Shipley negotiated on behalf of Conor Commercial Real Estate in both leasing agreements. CBRE Senior Vice President William Lattimore worked on behalf of Swiss Madison, while Lee & Associates’ Executive Vice President & Principal Brett Chambless and Director Patricia Rainone (Donahue) worked on behalf of Maersk Warehousing and Distribution Services.

Another industrial project near the Port of Savannah is moving forward: McCraney Property Co. received $62.8 million in construction financing for Logistics 16’s Phase I, which will consist of three front-load buildings, totaling more than 1 million square feet.