{"id":1004691813,"date":"2023-11-27T04:29:04","date_gmt":"2023-11-27T12:29:04","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004691813"},"modified":"2023-11-27T04:42:22","modified_gmt":"2023-11-27T12:42:22","slug":"3pl-firm-signs-983-ksf-savannah-lease","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/3pl-firm-signs-983-ksf-savannah-lease\/","title":{"rendered":"3PL Firm Signs 983 KSF Savannah Lease"},"content":{"rendered":"
\"A<\/a>

Plastic Express will occupy a 982,800-square-foot building at Central Port Logistics Center. Image courtesy of Capital Development Partners<\/em><\/p><\/div>\n

Plastic Express<\/strong>, a logistics company that specializes in the handling and transport of plastics and resins, has leased all of a 982,800-square-foot building now under construction at Capital Development Partners<\/strong>‘ Central Port Logistics Center in Savannah, Ga.<\/p>\n

The facility\u2014dubbed Building 11\u2014and related infrastructure represent an investment of more than $155 million. Scheduled to deliver in June 2024, the building is\u00a0the first phase of the 1,000-acre industrial park, which will eventually feature 5.5 million square feet of warehouse space.<\/p>\n

The site is served by a CSX rail line and will feature a 300-railcar storage capacity. Upon its completion, the facility will provide packaging, warehousing, transloading, and storage capacity for more than 8,000 TEUs, and Plastic Express plans to export more than 150 million<\/span> tons of U.S.-made resin products from this location.<\/p>\n

\n

READ ALSO:<\/strong> Industrial Sector Navigates Growth Challenges<\/a><\/p>\n

\n

Also underway at Central Port Logistics Center is a 1.5 million-square-foot cross-dock building with 40-foot clear heights and 50 acres of adjacent container storage capacity. Considered the largest speculative industrial facility to be developed in the Savannah market, the development is slated to be completed in the first quarter of 2024.<\/p>\n

In a prepared statement, John Knox Porter, CEO of Capital Development Partners, noted that Plastic Express is \u201ca repeat customer\u201d of his company. In 2019, the City of Industry, Calif.-based tenant\u2014reportedly the largest U.S. logistics company to be veteran-owned and -operated\u2014leased 1.2 million square feet at Savannah Port Logistics Center, another industrial park developed by CDP in Pooler, Ga.<\/p>\n

Growth all around for Savannah’s industrial market<\/h2>\n

Although deliveries have pushed vacancy in Savannah\u2019s industrial market up from its recent record lows, tenant demand drove 2.4 million square feet in deals, more than double the previous quarter, according to a third-quarter report from Lee & Associates<\/strong>. Net absorption was 3.3 million square feet in the third quarter, bringing this year’s total to 9.6 million square feet year-do-date as of September.<\/p>\n

In October, Stonemont Financial Group and joint venture partner The Davis Cos. announced the delivery<\/a> of two industrial buildings totaling 2.7 million square feet at Georgia International Trade Center in Rincon, Ga., just northwest of Savannah. Both buildings are build-to-suits for Lowe\u2019s.<\/p>\n

The previous month, Lincoln Property Co. broke ground on its first ground-up project<\/a> in the Savannah region, a 482,350-square-foot distribution facility. Bloomingdale Trade Center is slated to open late in 2024.<\/p>\n","protected":false},"excerpt":{"rendered":"

Capital Development Partners will complete the building next summer.<\/p>\n","protected":false},"author":882,"featured_media":1004691822,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21784,21782,21748,21742,32781],"tags":[40764,32762],"class_list":["post-1004691813","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-brokerage","category-development","category-industrial","category-latest","category-southeast","tag-capital-development-partners","tag-lee-associates"],"acf":[],"yoast_head":"\n3PL Firm Signs 983 KSF Savannah Lease - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"Plastic Express has leased a 982,800-square-foot building now under construction at Central Port Logistics Center in Savannah, Ga.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/3pl-firm-signs-983-ksf-savannah-lease\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"3PL Firm Signs 983 KSF Savannah Lease\" \/>\n<meta property=\"og:description\" content=\"Plastic Express has leased a 982,800-square-foot building now under construction at Central Port Logistics Center in Savannah, Ga.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/3pl-firm-signs-983-ksf-savannah-lease\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2023-11-27T12:29:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-11-27T12:42:22+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2023\/11\/Central-Port-Logistics-Center-Plastic-Express-building-rendering-e1701082419915.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1188\" \/>\n\t<meta property=\"og:image:height\" content=\"892\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Baltic\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/3pl-firm-signs-983-ksf-savannah-lease\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/3pl-firm-signs-983-ksf-savannah-lease\/\",\"name\":\"3PL Firm Signs 983 KSF Savannah Lease - 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