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SAVANNAH, GA-Reno, NV-based DP Partners has entered the metro-area market with the acquisition of 1,810 acres where it plans to build two class A industrial parks with more than six million sf of space.

The developer has signed a letter of intent to acquire a 1,738-acre parcel in Meldrim, eight miles west of the Interstate 16/Interstate 95 interchange and 15 miles west of the Port of Savannah. Of the land, only 640 acres is developable. The land is currently owned by Effingham County Industrial Development Authority, which has been working with DP over the past six months to create an industrial park.

The land will be developed in phases over five to seven years. The first phase, on 140 acres, will include a $200-million park called LogistiCenter at Savannah with five million sf of space including eight to 15 facilities, depending on market demand. DP plans to build its first speculative building, a 400,000-sf distribution center, within the next two years. “In the meantime, there is much to do. The land must be rezoned from commercial/agricultural to light industrial; water, sewer and power must be brought to the site; road infrastructure improvements must be made,” says DP regional director Stephen Bailey.

In a separate transaction, DP Partners has contracted to acquire a 72-acre development site in Pooler which fronts the west side of Dean Forest Road less than one mile north of Interstate 16. The company plans to close on the acquisition by the end of the year. Representing the company in the land acquisition was CB Richard Ellis senior associate Nathan Rogers, who is in the company’s Jacksonville office. The seller, locally based family trust Dean Forrest Associates LLP, was represented by locally based Neely Dales LLC partner John Neely.

The company plans to break ground in spring 2007 on two speculative buildings totaling 1,036,680 sf in an industrial park called LogistiPort at Savannah.

The parks are an expansion of the company’s LogistiCenter brand. In addition to Savannah, the company is currently developing 2,000 acres of LogistiCenter parks in markets including Reno and Las Vegas in Nevada, Logan Township in Southern New Jersey, Allentown and Carlisle in Pennsylvania and Rochelle and Sauk Village in the Chicago area, as GlobeSt.com previously reported.

DP is one of several developers and retailers hoping to capitalize on strong distribution trends in Savannah, including the planned Savannah Harbor expansion project. During fiscal year 2006, which ended June 30, the Port of Savannah handled more than two million 20-foot equivalent unit containers and 17.6 million tons of cargo. In addition to DP’s planned activities, Target is building a two-million-sf warehouse and Ikea is building a 1.7-million-sf distribution center, according to the Georgia Ports Authority.

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