McCraney Property Company, a leading private real estate investment firm focused on the acquisition, development, and management of industrial properties in the Southeast region, signed a new, 116,750-square-foot lease with Store Supply Warehouse® at 95 Logistics @ Pooler Parkway, a 562,564 square foot speculative industrial park under development near the intersection of Interstates 16 and 95, approximately 10 miles from the Port of Savannah.
While the original plans called for a 345,600-square-foot industrial building on the 22-acre site, the area’s low industrial vacancy rate and rapidly increasing port activity led McCraney Property Company to quickly implement a phase II. The new building will span 216,964 square feet, of which Store Supply Warehouse®, a business which sells retail store supplies and fixtures to smaller, independent retailers, will take the majority of the space, as part of a relocation and expansion within Savannah, leaving the project presently 21 percent preleased.
“We’re happy to welcome the expansion of Store Supply Warehouse in the Savannah market, and the private infrastructure investment from the McCraney Property Company,” said Georgia Ports Authority Executive Director Griff Lynch. “As more and more customers tap into the efficiencies of Georgia’s ports, there is clear demand for additional warehouse and distribution center space, and the McCraney development is helping to fill that need.”
Savannah’s outlook lies squarely in the lap of global trade and together with the benefits of a widened Panama Canal. The market is currently enjoying record levels of growth according to CBRE market research. While there is some uncertainty regarding global trade related to trade tariffs, the outlook for the market could not be stronger. A recent report by Evans General Construction suggests that the Port of Savannah will demand 55 million square feet of industrial development over the next decade.
“Savannah’s port continues to fuel the expansive environment for the success of large logistics companies that in turn need space for growth,” said Steven McCraney, President and CEO of McCraney Property Company. “In my opinion, the Port of Savannah is on track to become one of the major hubs of transport along with Port of Los Angeles, Port of Long Beach and other top movers of product.”
95 Logistics @ Pooler Parkway’s front-load buildings will feature 32-foot clear heights, 48 dock-high doors and 100 trailer parking spaces. The speculative development will be designed to enable the building to fit tenants ranging upward in size from 100,000 square feet.
CBRE’s First Vice President William Lattimore, SIOR, represented McCraney Property Company in this lease, and said, “The Savannah market is experiencing an unprecedented level of absorption this year, and the 95 Logistics project is perfectly positioned. Our team is excited to be a part of McCraney Property Company’s commitment to the Savannah industrial market.”
