For the first time in its history, the Port of Savannah has moved 5.3 million twenty-foot equivalent container units, growing cargo volumes by 20 percent in FY2021, or nearly 900,000 TEUs compared to the previous year.
GPA Executive Director Griff Lynch said the Savannah Harbor deepening, the Mason Mega Rail terminal and other capacity enhancements are not only preparing GPA for the present influx of cargo, but also for future demand.
“A major strength for the Port of Savannah is its ability to respond to the needs of customers as they expand their positions in Georgia,” Lynch said. “As port users continue to route additional cargo to Georgia, we are bullish on the future. We have an abundance of near-port property available for development, and GPA is right now adding millions of TEUs of additional capacity in Savannah.
- Vacancy rate has dropped to 1.31%
- Rents are up 3.2% from 2021 Q2
- Construction has increased to 20M SF
- The market will soon exceed 100M SF in total inventory