(Savannah, GA ‒ March 18, 2019) The Atlanta office of Duke Realty Corporation (NYSE: DRE), the leading U.S. domestic-focused industrial property REIT (Real Estate Investment Trust), announces that it has executed a long-term lease agreement for a 194,120-square-foot, build-to-suit, rail accessible warehouse with Schilli Distribution Services, a logistics services provider specializing in flatbed and open-deck transportation. The building, which is being built on a 12.11-acre parcel at 276 Jimmy Deloach Parkway in Savannah, will be accessible via a CSX rail spur that serves another Duke Realty building at 100 Logistics Way. Delivery is expected in September 2019.
“Schilli Distribution Services is a one of America’s fastest growing transportation providers and a valued tenant of Duke Realty in Savannah. We are excited to continue our partnership with them by delivering a custom-designed, state-of-the-art facility that will serve as a core component in their logistics chain,” said Chris Brown, Senior Vice President for Duke Realty in the Southeast region of the United States. “This new facility will incorporate modern features and can be rail accessible, providing them with enhanced storage and distribution capabilities, as well as multiple transportation options.”
“Our partnership with Duke Realty is instrumental in our ability to grow. They understand the industry and our needs,” said Lee Michaud, CEO and President of Schilli Transportation Services. “The result is a state-of-the-art facility within minutes of the port, and with access to vital truck routes and rail capacity. ‘276’ is exactly what we were looking for in our quest to remain the provider of choice for our customers.”
276 Jimmy Deloach Parkway is located just east of I-95, which is accessible via Jimmy Deloach Parkway and GA-21, and is only minutes from the Port of Savannah. Schilli’s new facility will incorporate 32′ clear height, 43 – 9′ x 10′ dock doors and 2 – 12′ x 14′ drive-in doors. Outside the building will be a 170′ truck court, and parking for 71 automobiles and 39 trailers.
“Demand for warehouse space in the Savannah market continues to be high given the strong TEU volumes at the Garden City Terminal,” said Brian Sutton, Vice President of Leasing for Duke Realty in Atlanta and Savannah. “Overall market vacancy is currently 3 percent and our existing 7.3 million-square-foot portfolio is 98 percent occupied, so we are pleased that we are able to take an underused parcel of land and develop a building that will meet Schilli’s needs both in terms of functionality and location.”
Bob Luttrell and Ken Boyd with Newmark Frank Knight (formerly Jackson Cooksey) represented Schilli in the transaction while Brian Sutton represented Duke Realty.
About Duke Realty
In the Savannah Industrial Market, Duke Realty owns more than 7.3 million square feet of space in 24 buildings, making it the largest industrial/warehouse owner in Savannah. Duke Realty manages its Savannah portfolio out of its Atlanta office located at 3715 Davinci Court, Suite 300, Peachtree Corners.
On a nationwide basis, Duke Realty Corporation owns and operates approximately 153 million rentable square feet of logistics assets in 20 key U.S. logistics markets. Duke Realty is publicly traded on the NYSE under the symbol DRE and is listed on the S&P 500. The company maintains a Baa1 rating from Moody’s Investor Service and a BBB+ rating from Standard & Poor’s Financial Services. More information about Duke Realty Corporation is available at www.dukerealty.com. Duke Realty also can be followed on Twitter, LinkedIn, Facebook and YouTube.