JANUARY 2026 MARKET SUMMARY

The first month of the new year saw consistent performance across multiple asset classes in the Savannah area commercial market. With 28 sales transactions and $130.6M in sales volume, January was on par with most months in the second half of 2025, but fell short of December’s strong performance. 

Land in the western part of the market continued to sell at a steady pace. January saw 10 land sales, with an average price of $300,000 per acre. Proposed uses for those parcels range from storage yards to multifamily redevelopment. 

The biggest retail “sale” of the month was actually a recapitalization of the Abercorn Walk property at 5525 Abercorn St, worth $25.5M. According to Costar research, GBT Realty Corporation, who initially bought the property in 2022, will continue to own the property but with different partners. 

In other retail news, 14045 Abercorn St, Suite 1503, sold from MBM Developments to Conark, LLC, an El Paso-based CRE owner, for $5.7M. This suite, a condo owned separately from the larger Savannah Mall property, is currently leased to MCI Call Center. Future plans for the Savannah Mall property continue to be a hot topic of conversation around town. The City of Savannah and ULI Atlanta plan to convene a Technical Assistance Panel (TAP) for the Southside Retrofit area later this year.

Finally, the largest transaction of the month stemmed from International Paper’s divestment of its Global Cellulose Fibers business, originally announced in August 2025. As part of the subsidiary’s $1.5B sale to AIP, the Port Wentworth pulp mill campus changed hands for just over $40M. We are likely still years away from the sale of the Savannah plant, International Paper’s other campus in Chatham County.