Two-building project set to help ease industrial space shortage in Savannah, Georgia
Two business units within Transwestern have partnered to purchase land in Georgia, just outside the Port of Savannah, with plans to build more than 500,000 square feet of industrial warehouse space.
According to Transwestern, Transwestern Development Co. and Transwestern Investment Group created a joint venture to acquire roughly 31 acres of raw land in Rincon. The seller wasn’t disclosed, and financial specifics were not provided. The companies intend to construct two warehouse facilities totaling 528,560 square feet on the site.
The property is located about 10 miles north of the Port of Savannah’s Garden City Terminal, the second-largest port on the East Coast after the Port of New York and New Jersey. Through Oct. 31, the Port of Savannah handled 4.8 million TEUs, representing a 4% increase from the same period in 2024, according to the Georgia Ports Authority. TEUs — or twenty-foot-equivalent units — are a standard measurement for container cargo capacity across ports and shipping terminals.
The Savannah industrial market continued to lead the nation for the second consecutive quarter in terms of absorption as a percentage of inventory during Q3, JLL reported. The market recorded about 2.6 million square feet of net absorption, reflecting the difference between occupied and vacated space in the region.
A shortage of available space has played a major role in Savannah’s elevated absorption levels.
“The construction pipeline is tight, with only 3.8 million square feet of available speculative product and very few options for tenants needing more than 500,000 square feet,” JLL said.
Transwestern’s new speculative development is intended to help fill that gap, said Chris Sterling, director of acquisitions at Transwestern Investment Group.
“With ongoing demand for modern, port-adjacent facilities outpacing current supply — and with new construction starts dropping sharply — this location positions us well to deliver the kind of space occupiers are actively looking for,” Sterling said.
Construction on the two speculative buildings is scheduled to begin this month and finish by the end of 2026, the company added.
The two warehouse properties will be located at 1700 General Way and 1000 Nicklaus Loop, according to Transwestern. Representatives confirmed to CoStar News that the buildings will rise on land now owned by Transwestern, next to Orden Co.’s North Gate Industrial Park. Greenland Developers serves as the master developer for the broader industrial area.
Public records show Greenland Developers owns 1700 General Loop, while 1000 Nicklaus Way is owned by three Springfield-based groups: P-51 Properties, Yellow Pine Properties, and J&W Landholdings.
For the record
Chris Tomasulo, Bennett Rudder, Ryan Hoyt, and Lindsey Wilmot at JLL represent Transwestern for leasing. Sutton Realty Advisors handled the property acquisition on Transwestern’s behalf. Weiner, Shearouse, Weitz, Greenberg & Shawe served as legal counsel to the seller. Randall-Paulson Architects is the architect for the two buildings, and Conlan Co. is the general contractor.
Updated Dec. 2: This update clarifies that the buildings will rise on Transwestern-owned land adjacent to North Gate Industrial Park. A previous reference to an Ameris Bank loan was removed after Transwestern confirmed the county records were incorrect and currently being updated.
Source: Original reporting by Andy Peters, CoStar News.
