A joint venture lead by Capital Development Partners, an industrial real estate and infrastructure development company, has begun construction on a $125 million logistics campus at the Port of Savannah in Georgia, known as the Savannah Port Logistics Center.
The 197-acre industrial campus will offer dual rail service by Norfolk Southern Railway and CSX Transportation. The site also will offer transload capability and more than 2,000 container storage positions, according to a Capital Development Parners press release.
The first building to be constructed as part of the campus is a 1,075,000-square-foot industrial facility with transload, cross-dock capability and high cube container and trailer storage capacity. It is slated to open in April 2019.
Construction on the second building, a similar 1,310,400-square-foot facility, is expected to begin late this year.
Demand for modern industrial and logistics facilities at the Port of Savannah and elsewhere on is driven fueled by the widening of the Panama Canal and the emergence of the “New Panamax” vessels, with a cargo capacity of up to 13,000 TEU.
The Savannah Port Logistics Center is financed with institutional financial partners including Greenfield Partners and GH Anderson & Co.
The Port of Savannah, home to the largest single-terminal container facility of its kind in North America, is comprised of two modern, deepwater terminals: the Garden City Terminal and the Ocean Terminal. The Garden City Terminal is the fourth busiest container handling facilities in the United States, encompassing more than 1,200 acres and moving millions of tons of containerized cargo annually.