Q1 2024 SAVANNAH INDUSTRIAL MARKET REPORT

Year over year, Savannah’s industrial sector has seen an influx of 27 million square feet of new inventory, leading to an increase in industrial vacancies. Nevertheless, the total leasing volume in Savannah has shown a consistent upward trend since 2018, fueled by the expansion of e-commerce and the flourishing activity at the Port of Savannah. Currently, there is 12,605,640 square feet under construction, 15% of which is already committed. Despite national uncertainties, ongoing investments in the port and its surrounding infrastructure are expected to enable Savannah to navigate short-term challenges and foster long-term growth.