Stratford Land, Panattoni Reach Development Deal

HARDEEVILLE, SC—Stratford Land reports it has reached an agreement with Panattoni Development Co. of Newport Beach, CA to be a preferred development partner at its RiverPort Business Park here.

Panattoni has proposed a wide range of buildings from 50,000 square feet to 1.1 million square feet in the 172-acre, initial phase of the park. The first building in the project is proposed to be 151,200-square-foot industrial spec building that is designed to suit one to three tenants, according to Dallas-based Stratford Land.

“This new business park is the start of something big in the Lowcountry region and we are excited to have Panattoni in this project,” David Moore, senior director of investments Southeastern U.S. at Stratford Land, states. “RiverPort Business Park is expected to have a positive economic impact on the area as a job generator and stimulus to industrial activity and we're pleased to see the new inland logistics hub take shape.”

In March of this year, Stratford Land initiated construction on phase one of RiverPort Parkway, which is now completed and serves as the entrance to the initial 172-acre industrial section of the development. RiverPort Business Park is located 11 miles from the Port of Savannah. Stratford Land estimates that RiverPort has the potential to attract an additional 10,500 jobs and a collective increase in annual personal income of up to $210 million to the area.

“We're pleased to begin working with Stratford Land to bring the vertical development of an institutional quality to the project. We are in conversations with potential users who recognize this site as an ideal location for logistics with its proximity to both the port and Interstate 95,” says Dayne Pryor, partner at Panattoni Development Co.