The Port of Savannah continues to be the fastest-growing container terminal in America. In 2020, the port acquired an additional 145 acres, adding 1 million TEUs (twenty-foot equivalent unit) container capacity to the port. This is part of the port’s larger expansion plan to increase the Georgia Ports Authority’s capacity to more than 9 million TEUs by 2030. This growth has been led by an increase in demand as the top port for U.S. exports. To keep up with this growth, the Savannah industrial market added 9,419,044 SF of new distribution and warehouse product in 2019 and another 5,971,044 SF in 2020, causing the vacancy rate to rise to 7.7%. Despite the vacancies, construction continues to boom with roughly 8 million SF under construction. The market continues to grow with a positive absorption of 3.2 million SF of net absorption to finish the year of 2020. To read the full report click the button below!