Hyundai Glovis’ new space at Satellite Place is an intermarket relocation, and the company will nearly double its existing square footage. The space will serve as the office component for the South Korean automobile manufacturer’s new industrial facility near Savannah. Hyundai Glovis plans to move employees to Satellite Place in May 2024. The influx of EV-related companies and jobs at Satellite Place exemplify the halo effect of Governor Kemp’s goal to make Georgia the electric vehicle capital of the nation.
“Satellite Place has emerged as the preferred office location for EV manufacturers and their suppliers and partners to be central to both the manufacturing facilities and the vital workforce that supports them from the offices in Gwinnett,” said Zac Gruber, president of the office division at Banyan. “The property is on pace to fully stabilize this year with a diverse roster of national and international tenants, and it will continue to benefit from the economic development happening throughout Georgia.”
According to JLL Research, Satellite Place has captured nearly 40% of Gwinnett County’s year-to-date new leasing activity. JLL Managing Director Jeff Taylor and Executive Vice President Glenn Aspinwall handle office leasing efforts on behalf of Banyan.
Of the 21 transactions, 13 are new leases or expansions totaling 89,926 square feet and six are renewals totaling 20,037 square feet.
Additionally, Banyan has partnered with Greystar on the construction of a 328-unit, best-in-class multifamily community at Satellite Place to be known as Elan Satellite…
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