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CRG building speculative distribution center near port

As container volumes at the Port of Savannah continue to expand, so does the demand for warehouse and distribution space around the country’s fourth-largest and fastest-growing port.

In 2016, some 3.1 million square feet of new industrial space was delivered in Savannah and was almost immediately leased. Despite an addition of 1 million square feet in inventory in the fourth quarter of 2016 alone, the market continued to absorb more industrial square footage than it gained, dropping the year-end vacancy rate to a precarious 2.4 percent.

That’s why it’s especially good news to hear that that CRG, the real estate development arm of Clayco, is underway with a two-building, 1.7 million-square-foot speculative distribution center situated on 133 acres in Port Wentworth.

“CRG believes strongly in the future of the Savannah industrial market,” said Mike Demperio, vice president and Southeast Partner of CRG.

“We see opportunity as a result of the opening of the Panama Canal and the work done on deepening the Port of Savannah.”

The state-of-the-art facilities will feature Class-A amenities and offer a rare 36-foot clear height. Other features in both buildings include ESFR sprinklers, energy-efficient LED lighting and convenient access to Interstate 95 and Port of Savannah. Clayco is the design-build contractor and the company’s architecture subsidiary, Forum Studio, served as the design team for the project.

The first building, 590 Northport Parkway, will deliver in June. It will total 832,000 square feet with 220 trailer spaces and 173 dock high doors.

Steve Grable and Chris Tomasulo of Jones Lang LaSalle represented CRG in the land acquisition from Dallas-based Stratford Land and are also marketing and leasing the project on behalf of CRG.

Perdue on deepening costs

The Corps of Engineers announcement that the cost of the project to deepen Savannah’s harbor has gone up more than $250 million comes as no surprise to U.S. Sen. David Perdue, R-Ga. And he is clear on the reason why.

“It took 17 years to get the original project approved because of bureaucratic delays,” he said late Wednesday.

“There’s no doubt Washington caused this cost estimate to increase, too. President Obama ignored our warnings about the economic impact delays would have on the people of Georgia.”

In 2015, Georgia’s legislative delegation, including Perdue, Sen. Johnny Isakson and U.S. Rep. Buddy Carter, sent a letter to Jo-Ellen Darcy, Obama’s assistant secretary of the Army for civil works, urging federal funding of $100 million per year, the amount identified by the Corps as needed to keep the high-priority project on a path to timely completion.

Without that commitment, the delegation warned, the resulting delays in project completion could cost taxpayers as much as $1 billion.

Perdue said he’s now looking to President Trump to make the deepening a priority.

“We now have a business guy in the White House who understands we need to get Washington moving at a business-pace,” he said.

“To get this economy going, infrastructure projects vital to our global competitiveness need to be a priority. After breaking a tonnage record again, it is indisputable the Savannah port is a vital economic project.”

Senior business reporter Mary Carr Mayle covers the ports for the Savannah Morning News and savannahnow. She can be reached at 912-652-0324 or at mary.mayle@savannahnow.com.

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Following are the ships expected to call on Georgia Ports Authority’s Garden City and Ocean terminals this week. Schedules are supplied by GPA and are subject to change.

TERMINAL VESSEL ETA

GPA MAERSK COLUMBUS Today

GPA PETROCHEM SUPPLIER Today

OT ANDREA ENTERPRISE Today

OT PROMISE 3 Today

GPA NYK DIANA Saturday

GPA SAINT NIKOLAOS Saturday

GPA MOL BRAVO Saturday

GPA PHILADELPHIA EXPRESS Saturday

GPA ZIM SAN FRANCISCO Saturday

GPA CMA CGM CORAL Saturday

OT TOLEDO Saturday

GPA MSC VIDISHA R. Sunday

GPA MAERSK KOKURA Sunday

GPA NYK ALTAIR Sunday

GPA CMA CGM MAUPASSANT Sunday

GPA MSC MICHAELA Sunday

OT STAR LOEN Sunday

OT XING XI HAI Sunday

OT ROYAL HARMONY Sunday

GPA SCT DISTINCTION Monday

GPA IRENES REMEDY Monday

GPA MSC KOLKATA Monday

GPA BILBAO BRIDGE Monday

GPA CMA CGM MUSSET Monday

GPA MSC KOREA Monday

GPA YM UNICORN Monday

OT UNIVERSAL BARCELONA Monday

GPA MSC JOANNA Tuesday

GPA NYK METEOR Tuesday

GPA ADRIAN MAERSK Tuesday

GPA MOL MAXIM Tuesday

GPA MAERSK MEMPHIS Tuesday

GPA HAWK HUNTER Tuesday

OT BAHRI ABHA Tuesday

OT GRANDE CAMEROON Tuesday

GPA ZIM TARRAGONA Wednesday

GPA JAN Wednesday

GPA NEW DELHI EXPRESS Wednesday

GPA OOCL ANTWERP Wednesday

GPA CSCL AMERICA Wednesday

OT TIJUCA Wednesday

OT OTELLO Wednesday

GPA HARMONY N Thursday

GPA SOFIA EXPRESS Thursday

GPA MAERSK KURE Thursday

GPA MSC KARLSKRONA Thursday

GPA COLOMBO EXPRESS Thursday

OT STAR GRIP Thursday

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In Case You Missed It