Studio Demand for Production Facility in Savannah Creates Economic Opportunities for Local Community
SAVANNAH, Georgia -- Plans for KAT-5 Studios, America’s first purpose-built sustainable production studio opening in Savannah, Georgia in December 2022, took a major step forward today as principals David L. Paterson and Taylor Owenby announced exclusive representation with North America’s leading real estate investment brokerage, Marcus & MIllichap (NYSE: MMI).
“The Savannah market is primed for film industry growth,” said KAT-5 Studios’ Taylor Owenby. “And we look forward to building a diverse workforce development pipeline that will provide much-needed opportunities. After working in Georgia for my entire career, I’ve seen the demand for infrastructure increase year over year. Now is the time to show the industry what a sustainable film studio looks like and the impact it can have for generations to come.”
“Our goal is to provide a resource for the industry, community and our environment,” said KAT-5 Studios’ David L. Paterson. “Marcus & Millichap understands real estate and finance, and the KAT-5 team understands the needs of film studios and the Savannah community alike. Many years of research went into our design and we are excited KAT-5 is moving forward with this incredible group of professionals.”
“With a years-long waiting list for film production studio space in the state of Georgia, and with Savannah’s tax rebate on top of the state’s generous tax credits, there is huge demand for a project like KAT-5,” said Marcus & Millichap’s Henri Kessler. “We expect this demand to continue, and the additional value KAT-5 brings to the community in tourism, eco-design, and emergency preparedness makes this an exciting project for all of us.”
“The addition of studio space has been an ongoing need,” said Trip Tollison, President and CEO of the Savannah Economic Development Authority. “We are excited to see investments being made which will help attract more productions to the Savannah region.”
Marcus & Millichap is a leading firm specializing in commercial real estate sales, financing, research and advisory services; and has the largest team of investment specialists in the country. Henri Kessler in Manhattan and Gary Lee in Atlanta are the Team Leads representing KAT-5 Studios.
KAT-5 Studios first look, courtesy ISP Global Capital, LLC