{"id":1004761592,"date":"2025-06-16T01:56:55","date_gmt":"2025-06-16T09:56:55","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004761592"},"modified":"2025-06-25T02:01:16","modified_gmt":"2025-06-25T10:01:16","slug":"capital-development-partners-lands-77m-for-georgia-project","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/capital-development-partners-lands-77m-for-georgia-project\/","title":{"rendered":"Capital Development Partners Lands $77M for Georgia Project"},"content":{"rendered":"\n<p><\/p>\n\n\n<div class=\"wp-block-image\">\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a0943dd6984c&quot;}\" data-wp-interactive=\"core\/image\" class=\"alignright size-full is-resized wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"2258\" height=\"1693\" data-attachment-id=\"1004761593\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/capital-development-partners-lands-77m-for-georgia-project\/capital_development_partners-plastic-express-lease\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Capital_Development_Partners-Plastic-Express-Lease.jpg\" data-orig-size=\"2258,1693\" data-comments-opened=\"0\" 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=\"Capital_Development_Partners-Plastic-Express-Lease\" data-image-description=\"&lt;p&gt;Property at 200 Landmark Blvd. E., Savannah, Ga.&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Plastic Express fully leased this 982,800-square-foot facility at the Central Port Logistics Center in 2023. Image courtesy of Capital Development Partners&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Capital_Development_Partners-Plastic-Express-Lease.jpg?w=1024\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Capital_Development_Partners-Plastic-Express-Lease.jpg\" alt=\"Exterior shot of the building fully leased by Plastic Express at the Central Port Logistics Center in Savannah, Ga.\" class=\"wp-image-1004761593\" style=\"width:400px\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Capital_Development_Partners-Plastic-Express-Lease.jpg 2258w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Capital_Development_Partners-Plastic-Express-Lease.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Capital_Development_Partners-Plastic-Express-Lease.jpg?resize=768,576 768w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Capital_Development_Partners-Plastic-Express-Lease.jpg?resize=1024,768 1024w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Capital_Development_Partners-Plastic-Express-Lease.jpg?resize=1536,1152 1536w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2025\/06\/Capital_Development_Partners-Plastic-Express-Lease.jpg?resize=2048,1536 2048w\" sizes=\"auto, (max-width: 2258px) 100vw, 2258px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Plastic Express fully leased this 982,800-square-foot facility at the Central Port Logistics Center in 2023. <em>Image courtesy of Capital Development Partners<\/em><\/figcaption><\/figure><\/div>\n\n\n<p>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 &amp; Millichap\u2019s IPA Capital Markets division arranged the financing, originated by a life company.<\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>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 and a total of 93 dock doors, among other specifications. What\u2019s more, a third 769,500-square-foot building will rise with a cross-dock configuration.<\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p><strong>READ ALSO<\/strong>: <a href=\"https:\/\/www.commercialsearch.com\/news\/naiop-special-report-will-tariffs-tax-cres-industrial-sector\/\">NAIOP Special Report: Will Tariffs Tax CRE\u2019s Industrial Sector?<\/a><\/p>\n\n\n\n<hr class=\"wp-block-separator has-alpha-channel-opacity has-very-light-gray-to-cyan-bluish-gray-gradient-background has-background is-style-wide\"\/>\n\n\n\n<p>Located on 130 acres at the southwest corner of Buckhalter Road and 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.<\/p>\n\n\n\n<p>IPA Capital Markets Executive Managing Director Sunny Sajnani and Associate Director Travis Headapohl arranged the financing on behalf of CDP.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-a-closer-look-at-the-industrial-park\">A closer look at the industrial park<\/h2>\n\n\n\n<p>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.<\/p>\n\n\n\n<p>Plastic Express\u2014the largest veteran-owned and operated logistics company in the U.S.\u2014<a href=\"https:\/\/www.commercialsearch.com\/news\/3pl-firm-signs-983-ksf-savannah-lease\/\">fully leased one of the buildings<\/a> in 2023. CDP\u2019s 982,800-square-foot facility and infrastructure marked an investment of more than $155 million.<\/p>\n\n\n\n<p>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.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-greater-savannah-s-vacancy-drops-despite-high-deliveries\">Greater Savannah&#8217;s vacancy drops despite high deliveries<\/h2>\n\n\n\n<p>Metro Savannah\u2019s industrial pipeline encompassed 3.8 million square feet of industrial product underway as of March, according to a report by Lee &amp; Associates. The market\u2019s vacancy rate stood at 10.7 percent at the end of the first quarter, marking a 128-basis-point decline compared to December 2024.<\/p>\n\n\n\n<p>Notably, the market\u2019s vacancy index tightened even as <a href=\"https:\/\/www.commercialsearch.com\/news\/top-markets-for-industrial-deliveries\/\">industrial deliveries<\/a> crested at 4.6 million square feet during the first three months, and that\u2019s without counting <a href=\"https:\/\/www.commercialsearch.com\/news\/hyundai-opens-7-6b-manufacturing-plant\/\">Hyundai\u2019s $7.6 billion plant<\/a> that debuted earlier this year, according to the report.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The industrial development comprises 1.2 million square feet. <\/p>\n","protected":false},"author":3471,"featured_media":1004761593,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21825,21748,21742,32781],"tags":[40764,35230,34836],"class_list":["post-1004761592","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-finance","category-industrial","category-latest","category-southeast","tag-capital-development-partners","tag-institutional-property-advisors","tag-marcus-millichap"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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