Tuesday, August 11, 2009

Correction...Maybe: Mitsubishi may be Savannah Mega Site Suitor.

Mitsubishi Power Systems Americas Inc., per Savannah Morning News article, is in "final negotiations" with State economic development authority to "most likely" build a plant that manufactures power generators on a portion of the site.

It would represent about $300-500,000,000 in investment & 500 quality jobs for the immediate area. It will add a good "bump" to development activity in the Dean Forest Rd/Hwy 17 corridor. Commercial Real Estate, along with residential, in the area should benefit. Garden City Town Center is one that should see some increased interest for pad sites, multi-family & office space. Timing of an official annoucement is unclear.

My potential correction: I thought it was a Korean car company from an earlier blog. It's a smaller deal, but we'll take it. The State has been holding out for a single user. Budget deficits & constant official/unofficial requests from SEDA & other state EcoDev organizations, may have loosened up the Governor. But....maybe the other deal is still alive.... CT&T Co. Ltd. are to make a decision by September this year for their EV car site.

Logo: Courtesy Mitsubishi Power Systems
Rex Benton is a Savannah Commercial Real Estate Advisor for Mopper-Stapen, Realtors. He can be reached at the downtown office of Mopper-Stapen, Realtors at 912-238-0874 or via email. Office, Industrial, Retail & Investment properties. To learn more about Rex read hisBIO.


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