After closing on its 60-acre development site in Pembroke Pines last week for $14.25 million, joint venture partners Core5 Industrial Partners and Helms Development are moving forward with their plans for a distribution center that could cost up to $125 million.
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Sonoco Products Company, one of the largest global diversified packaging companies, will invest $20 million in a new packaging center in Fairburn, Georgia. The company plans to create 130 full-time and 465 part-time jobs. Read More« Previous1…3738394041Next »
Core5 Industrial Partners Announces Two Speculative Buildings Near the Port of Savannah
Effingham Business Center Set to Immediately Break Ground on a 121-Acre Site in Effingham County.
ATLANTA, October 11, 2023 – Atlanta-based Core5 Industrial Partners closed on a 121-acre park located less than 9.5 miles from the Georgia Ports Authority’s Garden City Terminal. Core5 will immediately break ground on the development of Effingham Business Center, located in unincorporated Effingham County on Old Augusta Road, and only 10 miles from Savannah International Airport. The park features a 401,760-square-foot rear-load building, which will accommodate tenants 100,000 square feet and higher and a 362,880-square-foot front-load building, designed to accommodate tenants of 150,000 square feet and higher. Both buildings feature 36’ clear heights, ample auto parking and 185’ truck courts. Delivery of both buildings is scheduled for the first quarter of 2025 and will be move-ready with make-ready office, lights and dock equipment in-place at completion.
“With close proximity to the Port as well as Hyundai’s Metaplant America and its suppliers, Effingham Business Center is strategically located to meet the needs of a broad range of occupiers in the Savannah market. The project is only five miles away from I-95 and 14.3 miles from I-16,” states Rodney Davidson, Vice President Investments for Core5. “Core5 is very bullish on the Savannah market, given the Georgia Ports Authority approved plan to invest over $4.5 billion over the next 12 years to expand and improve operations, we believe Savannah will become an even more important gateway for occupiers, stated Lisa Ward, Senior Vice President with Core5.
CBRE’s Savannah office will handle leasing efforts on behalf of Core5 for both buildings.
About Core5 Industrial Partners
Core5 Industrial Partners is an industrial real estate property company with expertise in development of Class-A properties featuring the latest innovations throughout the United States. Headquartered in Atlanta, Georgia, Core5 has development activity in Atlanta, Chicago, Cincinnati/Northern Kentucky, Columbus, Dallas, Houston, Indianapolis, Los Angeles/Inland Empire, Louisville, Maryland, Memphis, Nashville, Pennsylvania, Phoenix, San Antonio, Savannah and South New Jersey with expansion plans to additional key logistic hubs in the US. Founded in 2015, the company has developed or begun construction on 43 million square feet since inception.
Immediate access to capital, coupled with the ability to financially support deals on their balance sheet without utilizing third party resources on most transactions, Core5 executes quickly without layers of bureaucratic, time-consuming processes. The company is privately held by 180-year-old Japanese-based Kajima Corp – one of the world’s largest A credit-rated construction companies with whom C5 leadership has sustained a 30+ year working relationship.
Named for its five core principles, the company values are centered around a highly flexible entrepreneurial spirit promising follow through on commitments with an emphasis on relationships, excellence in quality, attention to detail and quick decision making. For more information on Core5 Industrial Partners, visit www.c5ip.com.
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