Dual rail-served park offers configurable, build-to-suit sites, as well as sites for sale, and can accommodate over 13 million square feet of warehouse space
Georgia Exports Company (GEC) has selected JLL as the exclusive broker to represent Georgia International Rail Park (GIRP), a 1,500-acre, master-planned, dual rail-served park located in Savannah, Ga. A JLL team made up of Managing Director Chris Tomasulo, Economist and Chief Strategist Dr. Walter Kemmsies, Senior Associate Bennett Rudder and Mark Hall with Judge Realty will market sites for sale or build-to-suit on behalf of the owner.
Strategically located 14 miles northwest of the Georgia Ports Authority’s (GPA) Garden City Container Terminal, GIRP is an ideal location for importers, exporters, manufacturing, warehousing and distribution centers. The utility-served park features direct service from Class I rail providers CSX Transportation and Norfolk Southern and has no need for a short line railroad. The site has the potential to accommodate over 13 million square feet of warehouse, distribution and manufacturing space and will undergo three phases of development.
JLL is currently marketing the 165 acres of zoned and entitled land in phase I to users and developers. This site provides true direct rail access to both CSX and Norfolk Southern via a connecting rail-line already in place. Over 1.3 million square feet across three buildings can be developed in this portion of GIRP. Zoning and entitlement for the remaining 1,335 acres within Phase II & II are underway and is expected to be secured within six to nine months.
“GIRP will offer an unpreceded distribution opportunity for industrial users across the southeast seeking state-of-the-art rail yard access, seamless interstate connection and modern build-to-suit sites,” said Wilson Burns, co-founder of GEC. “With a project of this scale, we’re confident JLL’s industrial brokerage team is the ideal group to leverage the site’s unique features and attract a variety of prospects.”
Additionally, the rail park is conveniently located eight miles from Interstate 95, 11 miles from the Savannah/Hilton Head International Airport and 12 miles from I-16. The nearby Port of Savannah is home to the largest single-terminal container facility of its kind in North America, and the Garden City Terminal is the fourth busiest container handling facility in the United States.
“GIRP’s close proximity to the GPA’s Garden City Terminal offers strategic and geographic business advantages,” said JLL’s Tomasulo. “Access to global markets via the Georgia Ports Authority is a key draw for manufacturing and logistics companies coming to the area. Plus, having two Class 1 railroads providing direct access into the park offers competitive rail rates and increased rail service to shippers needing transportation options. This park will present an attractive opportunity for a variety of users, and we look forward to working with GEC to bring this vision to life.”
According to JLL’s Q3 Industrial Outlook, the industrial development pipeline increased 12.8% since last quarter, proving that investor and developer appetite remains strong. Year-to-date, 2019 has provided the highest net absorption the Savannah industrial market has ever experienced. With the vacancy rate hovering at 2%, investment in land for speculative development is paramount.
About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
