TCC and MetLife Investment Management Clients Acquire 477-Acre Site in Savannah, Georgia for Coastal Trade Center
December 20, 2022
Development Will Deliver Nearly Five Million Square Feet of Class A Logistics Space
A JV between Trammell Crow Company (TCC), a global commercial real estate developer, and MetLife Investment Management clients acquired a 477-acre development site in Effingham County, Georgia. The project, known as Coastal Trade Center, will include 4,727,520 square feet of Class A logistics space planned across six buildings and will be developed in two phases. Construction will begin on Phase I in March 2023 with an expected delivery in the Q3 2024.
“TCC is beyond excited to break into the Savannah market, which is a highly sought-after area for a variety of industrial users that want access to the entire U.S. Eastern Seaboard,” said Will Lombard of TCC’s Atlanta Office. “The Coastal Trade Center is uniquely positioned to provide outstanding port proximity, scalability, and speed-to-completion in a market that has a very tight vacancy rate under one percent and is is need of new Class A product.”
The first phase of development at the Coastal Trade Center will include three cross-dock facilities that will include 1,215,200 square feet, 640,640 square feet and 473,760 square feet, respectively. The second phase of development will include a 1,423,520-square-foot cross-dock facility, a 611,520-square-foot cross-dock facility, and a 362,880-square-foot front-load facility.
Leasing for the project will be handled by Bennett Rudder, Ryan Hoyt, and Chris Tomasulo at JLL, who also represented the sellers, Greenland Developers.
“With its proximity to the Port of Savannah in the highly desirable Highway 21 industrial corridor, the Coastal Trade Center will bring much-needed inventory in a variety of configurations to suit occupiers seeking the efficiencies of locating in the Southeast’s busiest port gateway market,” added Bennett Rudder with JLL Savannah.
Located in Rincon, Georgia, the site is situated along Highway 21, which provides direct access to I-95 and I-16, and will be located on the to-be-built Coastal Trade Center Parkway. The Port of Savannah is within 14 miles of the site and the Atlanta CBD can be reached by vehicle in less than four hours.
Trammell Crow Company
Trammell Crow Company (TCC) is a global commercial real estate developer and wholly-owned subsidiary of CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas. Founded in 1948, TCC has developed or acquired nearly 2,900 buildings valued at $75 billion and over 655 million square feet. As of September 30, 2023, TCC had $15.4 billion of projects in process and $14.5 billion in its pipeline. It employs 650 professionals in 28 major cities throughout the United States and Europe. The company serves users of and investors in office, industrial/logistics, healthcare, life sciences and mixed-use projects, as well as multi-family residential through its operating subsidiary High Street Residential. For more information visit www.TrammellCrow.com.