Savannah Hospitality Developer Buys $1.3M Property

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This week's property transfers in the Savannah area include several high-value commercial and residential sales, including a $1.3 million purchase of a 15-acre commercial parcel by a local hospitality and retail developer, Arya Bloomingdale LLC. Other notable transactions include a $5 million purchase of two industrial parcels by biofuel company Poet Terminal-Savannah LLC, as well as the $2.2 million sale of a historic home in downtown Savannah.

Why it matters

These property transfers showcase the continued investment and development activity in the Savannah region, particularly in the commercial, industrial, and high-end residential sectors. The purchases by established companies like Arya Hospitality and Poet Terminal-Savannah signal confidence in the local economy and growth potential.

The details

The $1.3 million purchase of a 15-acre commercial parcel off Little Neck Road in Bloomingdale was made by Arya Bloomingdale LLC, a company affiliated with Arya Hospitality LLC, which has developed multiple hotels in the Savannah area under Marriott and Hilton brands. The seller was Drayton-Parker Companies LLC. Poet Terminal-Savannah LLC, a biofuel company, purchased two industrial parcels off Gwinnett Street for $5 million, planning to use the site as a freight terminal. Other notable sales include a $2.2 million purchase of a historic home on East Oglethorpe Avenue in downtown Savannah and a $1 million sale in the Parkside neighborhood.

• The property transfers occurred this week.
• Last week, there was a modest rebound in Savannah-area home sales.