Economic Overview: Continued Stability
The Savannah regional economy continues to demonstrate resilience, supported by steady industrial leasing activity and long-term structural demand drivers. The market’s strength remains anchored by the Georgia Ports Authority (GPA), along with a diversified economic base that includes logistics, advanced manufacturing, and tourism. The GPA has handled approximately 4.4 million twenty-foot equivalent units (TEUs) through September 2026, maintaining its position as one of the fastest-growing and most efficient container gateways in North America. While container volumes are projected to remain relatively flat through 2026 amid broader normalization in global trade, Savannah continues to outperform many competing U.S. ports, supported by ongoing infrastructure investments, population growth in the Southeast and sustained gains in import market share.
Supply And Demand: Stabilized Vacancy
Savannah’s industrial market held steady in Q3 2026, with the overall vacancy rate edging up to 10.6% from 10.5% in Q2 as 2.0 million square feet of new deliveries were largely offset by 1.6 million square feet of positive net absorption, bringing year-to-date absorption to 3.2 million square feet. Leasing activity in Q3 totaled approximately 1.6 million square feet including renewals, highlighted by a 492,480 SF lease by Cocam at Central Port Logistics Building 6 and a 239,931 SF lease by Everon Logistics at 40 Sonny Perdue. While tenant demand remains active, particularly among regional and mid-sized users, some large-scale requirements exceeding 1 million square feet continue to evaluate the market and validate the fundamental demand drivers for the market which has emerged as a preferred gateway for imports to the East Coast.
