Dulany Industries, Inc. today announced that it has entered into a definitive agreement with Greenfield Environmental Savannah Trust, LLC, Trustee of the Savannah Environmental Response Trust, in which Dulany will acquire the Former 1,600 acre Tronox/Kerr-McGee Savannah Site.
The property, to be renamed “SeaPoint Industrial Terminal Complex”, with a mile of deepwater frontage, class I dual rail service, large R&D Center, substantial utilities in place, and byproduct steam available is the largest private industrial site in the port of Savannah. Dulany plans to clean-up and then redevelop the site into a diversified multi-tenant Industrial Terminal Complex focusing on general industrial and high-tech industrial companies which have synergistic interests.
Prior to the transfer of the property from Kerr-McGee to Tronox and Tronox’s subsequent bankruptcy, the property was used primarily for the manufacturing of titanium dioxide. At its peak, over 700 local residents as well as another 300 contracted employees worked at the Site.
The investigation and cleanup activities will take place under the oversight of the Georgia Environmental Protection Division in consultation with the United States Environmental Protection Agency, both of which were instrumental in creating the innovative structure for the transaction.
In early January of 2013, the Savannah Trust put the property up for sale through a competitive bidding process. Marc Weinreich, Managing Principal of the Savannah Trust, stated that “Even before the establishment of the Savannah Trust, Dulany Industries had expressed a continuous, serious interest in acquiring the property. The Savannah Trust looks forward to working with Dulany Industries to get this property put back to productive economic use in a manner protective of human health and the environment for the benefit of the people of Savannah, Chatham County and the State of Georgia.”
According to Reed Dulany, President of Dulany Industries, “We could not be more excited about our acquisition of the former Tronox Savannah facility and look forward to bringing a large number of jobs and investment to the site when clean up is completed in the next year or two. This project could not have been achieved without the diligent and creative efforts of Mr. Weinreich, the US EPA, the GA EPD, and the State of Georgia. We are very much looking forward to continuing to work with them as we now begin the process of revitalizing this long neglected property.”
Sites within SeaPoint Industrial Terminal Complex will be marketed to potential partners by Colliers International in concert with CBRE.