A joint venture owned by North Signal Capital and a fund managed by Westport Capital Partners has broken ground on two of the last developable sites within 10 miles of the Port of Savannah in Georgia.
“The sites are just seven miles from the Georgia Ports Authority, home of the fourth-largest and fastest-growing port in the nation. The opportunity to deliver highly attractive total occupancy costs to tenants in a market with sub–1 percent industrial vacancy rate drove our investment,” said Peter Goulding, partner, North Signal Capital.
The joint venture completed its acquisition of the land on Oct. 31, 2018, and plans to develop two industrial buildings, 355,000 square feet (Site 1) and 88,000 square feet (Site 2), respectively.
“The partnership made a smart investment. The Dean Forest Distribution Park should ‘check all of the boxes’ for tenants requiring anywhere from 20,000 square feet up to 355,000 square feet. The location is ideal, only seven
