Home Depot has been renting a 1.4 million-square-foot distribution center in Savannah for 30 years. It has now bought the building and an adjacent 100 acres of raw land. Home Depot paid $145.5 million to acquire the distribution center, which spans about 325 acres near the Savannah/Hilton Head International Airport.
The seller was the Savannah Economic Development Authority, which developed the broader business park that includes companies such as Gulfstream Aerospace Corp.Â
The Atlanta Business Chronicle reports that Home Depot has leased much of the space for its supply chain operations. According to a filing with the U.S. Securities and Exchange Commission, at the end of 2023, the company owned just 3% of its more than 100 million square feet of warehouses and distribution centers. In contrast, it owned 80% of its stores at that time.Â
The post Home Depot Pays $145M Savannah Distribution Center appeared first on Connect CRE.
​Â
