Atlanta-based industrial firm MDH Partners has completed 1.5 million square feet of leasing across two industrial buildings in Georgia in the past 45 days. Signaling the strength of Georgia’s clean energy boom and the continued draw of the Port of Savannah, these major deals include a lease with a solar manufacturer at a facility in Atlanta’s northwest industrial submarket and a full-building deal with a third-party logistics company in the Savannah market. 

“These deals are significant because overall industrial fundamentals have softened, particularly in the bulk leasing space,” said Kate Kilgore, Head of Asset Management at MDH Partners. According to CBRE, there were 63 leases signed across the country in 2022 that exceeded 1 million square feet, but that number fell to only 43 leases in 2023. 

Kilgore adds, “However, Georgia has seen huge investments from manufacturing users over the past few years, largely due to its business-friendly environment and the infrastructure investments made in Savannah at Georgia Ports Authority. We have positioned ourselves to take full advantage of these tailwinds, as evidenced by the scale of these leases.”

A solar panel manufacturer will occupy 843,000 square feet at Busch Commerce Center in Cartersville, Georgia. Completed last fall, the 1.2-million-square-foot, Class-A bulk industrial facility was constructed by MDH Partners and CF Real Estate Investments using CarbonCure concrete. The technology permanently mineralizes captured CO2 by injecting it back into the concrete during the mixing process. Busch Commerce Center saved 234 tons of CO2 emissions during construction and is one of the largest CarbonCure Technologies developments of its kind. Nathan Anderson and Darren Butler with NAI Brannen Goddard lease Busch Commerce Center on behalf of ownership, with approximately 383,000 square feet available. 

On the heels of acquiring the newly constructed warehouse in October 2023, MDH has secured a third-party logistics firm to fully lease the 655,000-square-foot Beltway Logistics Center near Savannah, Georgia. Located in Bloomingdale, Georgia, Beltway Logistics Center is 15 miles from the Port of Savannah and less than one mile from the I-16 interchange. Darren Butler with NAI Brannen Goddard represented MDH Partners in the deal.

According to the Georgia Port Authority, Georgia’s ports and inland terminals support more than 561,000 jobs throughout the state annually, and contribute $33 billion in income, $140 billion in revenue and $3.8 billion in state and local taxes to Georgia’s economy. Georgia has been able to attract several notable investments, many of which are electric vehicle manufacturers such as Rivian, Hyundai and Kia. 

Georgia is emergng as a center of clean energy manufacturing and technology, having also received billions of dollars in manufacturing investments from solar energy companies. These investments are fueled by federal policies like the Solar Investment Tax Credit and millions in local incentives, as well as Georgia’s research institutions like Georgia Tech, existing manufacturing workforce and the state’s position as a domestic logistical hub.

MDH Partners had tremendous leasing success in 2023, leasing 3.1 million square feet across the firm’s portfolio. MDH currently owns or manages approximately 24 million square feet across 30 markets in 18 states.