News Summary
Barings and Trinity Capital have commenced construction on Phase II of the Horizon 16 Industrial Park in Savannah, Georgia. This phase will add 1.5 million square feet of Class-A industrial space, strategically located near the Port of Savannah. With Phase I already showing strong leasing activity, the development aims to position Savannah as a key logistics hub, providing valuable opportunities for various businesses.
Barings and Trinity Capital Kick-Off Ambitious Phase II of Horizon 16 Industrial Park in Savannah
Big news is unfolding in Savannah, Georgia as Barings and Trinity Capital roll up their sleeves for the construction of Phase II at the Horizon 16 Industrial Park. This exciting venture aims to transform Savannah into a logistics hub, catering to the ever-evolving needs of both regional and international companies.
The Scope of Phase II
Phase II is no small feat, comprising six state-of-the-art buildings that will add a whopping 1.5 million square feet of Class-A industrial space to the park. This impressive new space is tailored to serve an array of tenants, from distributors and manufacturers to logistical firms, laying the foundation for future growth in the area.
Location, Location, Location
Horizon 16 Industrial Park boasts a prime location along Jimmy Deloach Parkway and Interstate 16, putting it within a mere 15 miles of the bustling Port of Savannah. This strategic positioning capitalizes on Savannah’s advantageous long-term industrial fundamentals, providing businesses with easy access to key infrastructure that supports bulk distribution. It’s worth noting that the park represents one of the last available land parcels for such use in the area, making it a coveted site for companies looking to thrive.
Success of Phase I
The Power of Partnership
The synergy between Barings and Trinity Capital continues to thrive. Their collaboration previously yielded the successful development of 85 Exchange, a 1.3 million square foot industrial park located near Charlotte, North Carolina. That project features high-profile tenants, including Amazon, showcasing the firms’ ability to attract significant players in the market.
A Broad Investment Horizon
Barings, a heavyweight in asset management boasting over $421 billion in assets as of the end of 2024, is keen to expand its footprint through strategic partnerships like this one. Similarly, Trinity Capital focuses on acquiring and developing commercial real estate in the southeastern United States and has invested over $4.5 billion across various projects. Together, they aim to reshape industrial real estate opportunities in Savannah.
Professional Team at Work
Leading the charge on this project are seasoned professionals from various areas of expertise. Evans will serve as the general contractor, overseeing the construction of these sizable buildings, while Atlas takes the helm as the architect, ensuring that the design meets the high standards expected for such a project. Additionally, leasing responsibilities for Horizon 16 Industrial Park have been entrusted to CBRE’s William Lattimore, rounding out a robust team geared toward making this venture a success.
The Future Is Bright
The launch of Phase II signifies not just a construction project but a burgeoning opportunity for Savannah, providing a boost to the local economy and creating job opportunities. As more companies seek to establish their operations in logistics-driven landscapes, Horizon 16 Industrial Park is poised to become a key player in the sector.
In conclusion, the commencement of Phase II of Horizon 16 Industrial Park presents an exciting development for Savannah, reinforcing the area’s reputation as a logistics hotspot. With the combined strengths of Barings and Trinity Capital fueling this initiative, the future looks undeniably bright.
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HERE Resources
Additional Resources
- Business Wire
- Wikipedia: Industrial real estate
- Connect CRE
- Google Search: Savannah industrial park
- GlobeSt
- Google Scholar: Savannah industrial market
- Savannah Now
- Encyclopedia Britannica: Real estate
- JLL
- Google News: Savannah industrial properties
Author: HERE Charlotte
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