Savannah Business Journal Staff Report
August 1, 2018 – In late 2017, Chesterfield was selected by the Georgia Ports Authority as the developer for 148 acres located in the Savannah River International Trade park. The property, parcel 4, is located only six miles from the 4th busiest container Port in the U.S. Chesterfield has sub-divided parcel 4 into three lots, A, B and C, for a total of approximately 1.8 million SF of industrial buildings for three different clients. The total development value is around $100 million.
A 1,276,000 sf cross dock facility is under construction on lot A for JLA Home, a designer, manufacturer, and supplier of home furnishings. Averitt Express, a supply chain management company, is under construction and will be occupying a distribution warehouse on lot B. Lot C, the final lot in parcel 4, is also under construction as a speculative 420,000 SF cross dock facility.
Chesterfield’s capital partner on the speculative building is Stonemont Financial Group based in Atlanta, Georgia. The current substantial completion for all three buildings is projected for March 2019. There is strong demand at this site for industrial space, and negotiations with potential tenants for the speculative space have been ongoing. The project team includes Chesterfield as developer of all three lots, along with Thomas and Hutton as civil engineer for the entire site and Wakefield Beasley Architects and Omega Construction performing the architecture and general contracting on lots A and C.
“The Savannah Port area has had tremendous success over the past few years, and we believe the market has strong demand for new industrial space. The Chesterfield team is glad to be part of the continued growth in the Savannah area industrial market,” stated by Chesterfield’s CEO, William Gardner Sr.