Trammell Crow and MetLife Investment Management have partnered to develop a Coastal Trade Center industrial campus in Effingham County near Savannah. Previously, the joint venture partners purchased a 477-acre site from Greenland Developers to build the new Class A logistics project. JLL represented the seller in the transaction.
The Coastal Trade Center will be built in two phases, with phase I set to break ground by March. The project’s site is at Rincon, along State Highway 21, which is about 14 miles from Georgia’s Port of Savannah. Therefore, its location allows direct access to Interstates 16 and 95, and it’s also in close proximity to Atlanta’s CBD.
The developers believe the project will add much-needed Class A space to the tightest industrial market in the US. The first phase is due for delivery by the fourth quarter of 2024.
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Development plans for the Coastal Trade Center project
The Coastal Trade Center was designed as a 4.7 million square foot industrial campus, spread across six buildings. In the initial construction phase, the project will focus on building three cross-dock buildings. The three buildings will encompass 1.2 million SF, 641,000 SF, and 474,000, respectively. Meanwhile, Phase II will be focused on building two cross-dock buildings and a 363,000 SF front-load building. The two cross-dock buildings will be 1.4 million SF and 612,000 SF, respectively.
Trammell’s senior VP Will Lombard said the Coastal Trade Center would provide future tenants with scalability and port accessibility. He pointed out that this was particularly important in a market with a vacancy rate of under 1%. JLL will be handling the leasing services for the project. Executive Vice President Bennett Rudder will lead JLL’s leasing team, along with Senior Managing Directors, Ryan Hoyt, and Chris Tomasulo.
Besides the Coastal Trade Center, another major industrial project coming to the region is the Logistics 16 at Ottawa Farms. McCraney Property has secured a $62.8 million construction loan for the initial phase of the project in Bloomingdale, Georgia.