Capital Development Partners Lands $77M for Georgia Project

June 16, 2025

The industrial development comprises 1.2 million square feet.

Capital Development Partners has secured a $77.3 million construction loan for the development of three speculative industrial facilities spanning 1.2 million square feet at the Central Port Logistics Center in Savannah, Ga. Marcus & Millichap’s IPA Capital Markets division arranged the financing, originated by a life company.

Proceeds go toward the completion of vertical construction and the lease-up process, according to a company statement. CDP expects the latter to finish by November 2026.

The project consists of two rear-load structures set to measure 168,480 and 284,480 square feet. The duo is slated to feature 32-foot clear heights each and a total of 93 dock doors, among other specifications. What’s more, a third 769,500-square-foot building will rise with a cross-dock configuration.

Located on 130 acres at the southwest corner of Buckhalter Road & Veterans Parkway, the site is in a foreign-trade zone, about 10 miles south of the Port of Savannah and roughly 14 miles away from the Savannah/Hilton Head International Airport. Thoroughfares such as U.S. routes 17 and 80, as well as interstates 16 and 516, run within approximately 6 miles.

IPA Capital Markets Executive Managing Director Sunny Sajnani and Associate Director Travis Headapohl arranged the financing on behalf of CDP.

A closer look at the industrial park

Central Port Logistics Center is a master-planned development set to comprise a total of 5.5 million square feet upon completion. CDP has already delivered four facilities at the park, enclosing 2.7 million square feet. Additionally, the industrial campus benefits from job tax credits.

Plastic Express—the largest veteran-owned and operated logistics company in the U.S.—fully leased one of the buildings in 2023. CDP’s 982,800-square-foot facility and infrastructure marked an investment of more than $155 million.

Other buildings at the park include a 1.4 million-square-foot structure, which was the largest speculative facility in the market when CDP broke ground on it in 2022, and two warehouses measuring 150,000 square feet each.

Greater Savannah’s vacancy drops despite high deliveries

Metro Savannah’s industrial pipeline encompassed 3.8 million square feet of industrial product underway as of March, according to a report by Lee & Associates. The market’s vacancy rate stood at 10.7 percent at the end of the first quarter, marking a 128-basis-point decline compared to December 2024.

Notably, the market’s vacancy index tightened even as industrial deliveries crested at 4.6 million square feet during the first three months, and that’s without counting Hyundai’s $7.6 billion plant that debuted earlier this year, according to the report.