On the heels of a historic performance in 2024, the Savannah industrial market continues to see robust leasing volume, strong absorption and steady tenant demand. In Q1 2025, Savannah saw 3.3 million square feet of leases signed, according to JLL’s Q1 2025 Savannah Market Report. JLL plays an active role in the market’s growth, having executed over 23 million square feet of deals and sold more than 3,000 acres of industrial land since 2021. JLL’s Savannah team includes Executive Managing Directors Bennett Rudder, Ryan Hoyt, Chris Tomasulo and Vice President Lindsey Wilmot.

This past quarter, JLL reported an impressive 2.75 million square feet of net absorption in Savannah. Savannah's Q1 absorption outpaced Atlanta’s – a market that is five times larger in size. JLL is currently tracking up to 28 million square feet of tenants in the market, as well as renewed interest in requirements greater than 500,000 square feet. Recently, JLL represented Burlington Stores in a 2.1 million-square-foot build-to-suit lease, which also marks the largest warehouse ever constructed in the Savannah market. 

“Already this year, there has been a notable uptick in bulk and super-bulk requirements,” said Tomasulo. “While there is heightened vacancy in the market, we are anticipating several large blocks of space absorbed this quarter.” 

There is 13.75 million square feet of industrial space under construction in the market, but 51% of this space is attributed to the Hyundai Meta Plant. The remaining 6.7 million square feet under construction is warehouse space, and in accordance with the national trend, reflects the lowest level of construction since Q1 2021. 

As the fastest-growing container gateway on the East and Gulf Coasts, the Port of Savannah is driving the market’s industrial growth. The port’s volume and growth rate consistently outpace competitors, and in February of this year, the port saw its busiest month on record with a 6% year-over-year increase in TEUs. Last quarter, the Georgia Ports Authority announced plans to increase capacity in Savannah, which includes adding berth space, boosting container yard and rail capacity and expanding truck gates at the Port of Savannah.  

“With the port continuing to position itself as a leading trade gateway, Savannah’s industrial sector is primed for additional growth and investment,” said Rudder. “As we look ahead to the rest of the year, we believe Savannah will continue to surpass projections and further cement itself as the foremost port city on the East Coast.”

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