SAVANNAH, Ga. /eNewsChannels/ — Savannah will see 100 new jobs by 2011, due to Dermody Properties’/DP Partners’ sale of a 689,400 square-foot building in its LogistiPort Industrial Park to JLA Home for an East Coast assembly and distribution center, SEDA announced today. The Class A industrial property is being sold for an undisclosed price to JLA, a subsidiary of E&E Company.
JLA is a global virtually integrated company specializing in home furnishing products and is a welcome addition to a growing distribution market that has become one of the main service hubs of the Southeast.
“There were many items considered while we researched for our new location on the east coast, however the overall Port of Savannah was the key along with the pro business attitude that was expressed by all parties within the Savannah area,” said Rodney Dickey, chief operating officer of JLA Home. “The overall quality of life, real estate market and labor pool was also a major attraction. We look forward to opening our operations and gradually building a strong base for our company in this eastern Port.”
The sale is also notable as the largest Class A industrial property to sell in the Savannah market in almost three years.
The property was initially developed in conjunction with the Savannah Economic Development Authority (SEDA), to provide tax benefits to prospective business clients. Based on job creation and capital investment, JLA will continue to benefit from this program and will enter into a new lease with SEDA upon sale. SEDA was also instrumental in the recruitment of JLA.
“The creative economic development solution from SEDA allowed us to build this property and continues to be a strong incentive for users to locate in Savannah. They have been an excellent partner,” said Michael Dermody, CEO and chairman of Dermody Properties/DP Partners.
“We are always pleased when we can facilitate the location of a company in our area, particularly in today’s business climate when beating out other communities for new jobs and investment can quickly elevate to an intense level of competition,” said Tommy Hester, Chairman of the SEDA Board of Directors. “An international company like JLA selecting Savannah is never an accident and today’s announcement will further solidify the significance of the Port of Savannah to our local and state economies as it continues to serve as a gateway to the world.”
“Our LogistiPort was the first multi-building industrial park in the Southeast United States to be LEED certified by the US Green Building Council and the building that JLA purchased is one of the top ‘green buildings’ in the region,” said Par Tolles of Dermody Properties/DP Partners.
Tolles and Stephen Bailey, Dermody Properties’ Eastern Region Partner, managed the transaction for Dermody Properties.
“This is a great benefit to the community of Savannah,” said Bailey. “Job creation is what it’s all about in these difficult times, and Dermody Properties is pleased to have played a key role.”
“JLA joins a growing list of port-dependent business choosing to call Savannah home over other South Atlantic options,” stated Curtis J. Foltz, executive director, Georgia Ports Authority, which assisted in attracting JLA to Savannah. “Proximity to a deepwater terminal, a state with pro-port pro-business leadership, immediate access to interstate and rail for deeper market penetration all contributed to Savannah meeting JLA’s freight mobility needs.”
David Sink with Colliers International and Steve Chess with Townsend Commercial Real Estate represented the purchaser and Bob Robers and Steve Grable with Jones Lang LaSalle represented DP Partners.
“JLA Home is a great fit for the Savannah market. After looking in other markets, including Charleston and Norfolk, they came to the conclusion that Savannah was the best location from a logistics standpoint with the most efficient port, affordable real estate and pro-business climate,” said David Sink with Colliers.
More information about SEDA: http://www.seda.org/ .
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