After claiming the third spot in 2024’s pipeline, Savannah leads the pack this year with 24.7 million square feet of space currently under construction, that’s according to the latest industrial survey by Commercial Edge. The current pipeline will expand the market by almost 17%, making it the leader in that metric as well. A majority of the pipeline can be attributed to Hyundai’s 17-million-square-foot electric vehicle plant, and it’s also worth noting that the market still saw a drop of around 18% compared to the start of last year in terms of space under construction.
As the fifth-largest port in the entire U.S. and home to the single largest terminal nationwide, its significance to the East Coast’s logistics network is key. A $200-million expansion of the Savannah/Hilton Head International Airport has greatly expanded its capabilities. The market’s significance was best underlined when Hyundai chose it as the site of a brand new, $7.6-billion electric vehicle plant, driving local employment as well as further development of Savannah industrial space through the multiplier effect.
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