Speculative 1.7 MSF Distribution Center Coming Near Port of Savannah
CRG is developing two industrial buildings totaling 1.7 million square feet, while the company’s architecture subsidiary Forum is designing both facilities. The project will benefit from the proximity of the Port of Savannah and is set to bank on the widening of the Panama Canal.
By Evelina Croitoru
590 Northport
CRG, a full-service real estate development company operating as a wholly owned subsidiary of Clayco Inc., has tapped JLL to market and lease 1.7 million square foot of speculative industrial development. Last year, the company purchased two parcels of land for the project in Savannah, Ga. JLL’s Steve Grable and Chris Tamasulo represented the buyer in the acquisition from Dallas-based Stratford Land.
Located at 590 and 455 Northport Parkway, the 133-acre industrial project will consist of two buildings. With construction currently underway, the first building, 590 Northport, is slated for completion this June. Once completed, the state-of-the-art facility will total 832,000 square feet with 220 trailer spaces and 173 dock high doors. The second building, 455 Northport Parkway, will total 866,100 square feet of industrial space and will feature 185 trailer spaces and 148 dock high doors. Both properties will also include ESFR sprinklers, energy-efficient LED lighting and easy access to Interstate 95 and the Port of Savannah. Clayco is developing the project while the company’s architecture subsidiary, Forum Studio, has designed both facilities.
“We see opportunity as a result of the opening of the Panama Canal and the work done on deepening the Port of Savannah,” Mike Demperio, vice president & Southeast partner at CRG, said in prepared remarks.
Rendering courtesy of JLL
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