{"id":1004139353,"date":"2016-03-15T00:05:54","date_gmt":"2016-03-15T08:05:54","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004139353"},"modified":"2022-08-03T02:17:34","modified_gmt":"2022-08-03T10:17:34","slug":"omnitrax-partners-on-colossal-industrial-project-in-savannah","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/omnitrax-partners-on-colossal-industrial-project-in-savannah\/","title":{"rendered":"OmniTrax Partners on Colossal Industrial Project in Savannah"},"content":{"rendered":"<p><em>By Barbra Murray, Contributing Editor\u00a0<\/em><\/p>\n<div id=\"attachment_1004139358\" style=\"width: 310px\" class=\"wp-caption alignright\"><a href=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/03\/Reserach_Parcel-Outlines1.jpg\"><img loading=\"lazy\" decoding=\"async\" aria-describedby=\"caption-attachment-1004139358\" data-attachment-id=\"1004139358\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/omnitrax-partners-on-colossal-industrial-project-in-savannah\/reserach_parcel-outlines1-630x440\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/03\/Reserach_Parcel-Outlines1-630x440.jpg\" data-orig-size=\"630,440\" data-comments-opened=\"1\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"Reserach_Parcel-Outlines1-630&#215;440\" data-image-description=\"&lt;p&gt;Aerial view of the Research Forest site in Savannah&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Aerial view of the Research Forest site in Savannah&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/03\/Reserach_Parcel-Outlines1-630x440.jpg?w=630\" class=\"wp-image-1004139358 size-medium\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2016\/03\/Reserach_Parcel-Outlines1.jpg?w=300\" alt=\"\" width=\"300\" height=\"210\" \/><\/a><p id=\"caption-attachment-1004139358\" class=\"wp-caption-text\">Aerial view of the Research Forest site in Savannah<\/p><\/div>\n<p><strong>Savannah, Ga.<\/strong>\u2014There\u2019s a big void in the Savannah <a href=\"https:\/\/www.commercialsearch.com\/news\/industrial\/\" target=\"_blank\" rel=\"noopener\">industrial market<\/a> and <a href=\"https:\/\/omnitrax.com\/\" target=\"_blank\" rel=\"nofollow noopener\">OmniTrax Inc.<\/a> is going to help fill it. The private railroad and transportation management company has joined forces with the <a href=\"https:\/\/www.effinghamindustry.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Effingham County Industrial Development Authority<\/a> to develop the Savannah Gateway Industrial Hub, a state-of-the-art business park located on a 2,700-acre tract.<\/p>\n<p>OmniTrax was the answer to ECIDA\u2019s search for a partner to build out the site once known as Research Forest. But\u00a0this\u00a0isn\u2019t your typical development team\u2014a city agency and a rail company\u2013nor is it your typical development. Per OmniTrax\u2019s tentative master plan, Savannah Gateway will\u00a0be able to accommodate 20 million square feet based upon 25 percent coverage for 1,865 upland acres, with offerings consisting of warehouses, distribution facilities and the like, as well as a single-user mega site and options for purchasing or leasing land. And the\u00a0project is certainly well located, sited\u00a0within\u00a012 miles of the Port of Savannah,\u00a0the fourth busiest port in the U.S.<\/p>\n<p>However, it\u2019s not just the gargantuan size of the development and its coveted port-centric location that make Savannah Gateway unique; it\u2019s the rail access. Both CSX and Norfolk Southern railroads will serve the park. \u201cDual rail-served property is rare no matter where it is located. To have a site of this size and this close to a major port and two major interstates may not exist anywhere else on the East Coast,\u201d Tony Manos, senior vice president of\u00a0industrial development at OmniTrax, told <em>Commercial Property Executive<\/em>.<\/p>\n<p>Savannah Gateway will not go\u00a0unnoticed\u00a0for many reasons,\u00a0not the least of which is the growing\u00a0gap between supply and demand in Savannah\u2019s industrial market. The vacancy rate has been on a steady annual decline since \u00a02009, and in the fourth quarter of 2015, it dropped down to an enviable 3 percent, according to a report by commercial real estate services firm\u00a0Colliers International. There\u2019s an even more favorable figure that will work to Savannah Gateway\u2019s advantage. \u201cThe vacancy rate for rail-served industrial space is 0 percent,\u201d Manos added.<\/p>\n<p>And demand is only going to grow stronger.\u00a0As Manos noted, \u201cIt is anticipated the completion of the Panama Canal widening will drive more business to East Coast Ports and the Port of Savannah in particular.\u00a0\u201d<\/p>\n<p>With ECIDA supplying the land for Savannah Gateway, OmniTrax will contribute capital for infrastructure development, including a rail system linking the park\u2019s tenants to the Class 1 operators,\u00a0as well as marketing services. The company will also share its development prowess, having completed\u00a0other\u00a0massive industrial business parks, including the 3,000-acre Great Western Industrial Park in Denver, and the 1,400-acre GEOTRAC Industrial Hub in Brownsville, Tex.<\/p>\n<p>Savannah Gateway\u00a0won\u2019t take shape right away, as\u00a0both OmniTrax and ECIDA are presently performing due diligence on the development arrangement.<\/p>\n<p><em>Image courtesy of the Effingham County IDA<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>One of North America\u2019s largest private railroad and transportation management companies has joined forces with the Effingham County IDA to develop a state-of-the-art business park in Savannah.<\/p>\n","protected":false},"author":969,"featured_media":1004139358,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21782,21808,21748,21742],"tags":[],"class_list":["post-1004139353","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-development","category-featured","category-industrial","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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