Brunswick Real Estate

Introduction to the Brunswick Real Estate Market: 

            Local knowledge is important when you buy or sell your most important asset.  Hodnett Cooper Real Estate wants you to have the best information about Brunswick Georgia real estate so that you can make the decisions that are right for you.  In the following pages, you’ll find helpful information about the factors affecting growth, and property values, in the Brunswick Georgia real estate market.

            This section of Southeast Coastal Georgia encompasses (1) the Golden Isles of St. Simons Island, Sea Island, and Jekyll Island, and their mainland communities, of which Brunswick is the largest, and (2) other coastal barrier islands located along the Atlantic Seashore, including Little St. Simons Island.  The area is prized for its moss-draped grand oaks, unspoiled beaches, genteel Southern lifestyle, and temperate climate.  Brunswick and Glynn County, Georgia is ideally suited for vacation and second homes, retirement homes and lifestyles and permanent homes.  The area is particularly attractive for those individuals seeking a balance between activity and a "laid-back" lifestyle.

            The Brunswick Georgia real estate market is booming. Four factors are creating extensive growth in Brunswick and Glynn County with a corresponding impact on the Brunswick real estate market: (1) the expansion of the Port of Brunswick, (2) the influx of retirees and second home purchasers to Coastal Georgia, (3) the rapid appreciation in housing prices on St. Simons Island, and (4) the rapid growth in employment from expansion of the construction, retail, service, tourism and medical industries in Brunswick and Glynn County.

A History of Brunswick, Georgia:

            Brunswick is the county seat of Glynn County.  This quaint port city was founded in 1771 and named for the ancestral home of King George II.

            The area’s first European settler was Mark Carr, a captain in General James Oglethorpe’s Marine Boat Company.  He established a plantation in 1738 on 1,000 acres fronting the Turtle River.  In 1771, the Royal Province of Georgia bought Carr’s land, an area known as Plug Point, and laid out the town of Brunswick.  The town was designed in the grid style, following General Oglethorpe’s design for the City of Savannah.  In 1797, the Georgia General Assembly transferred the Glynn County seat from Frederica on St. Simons Island to the town of Brunswick.

            After its designation as county seat, Brunswick grew very little.  The first public building, Glynn Academy, was built in 1819 and closed four years later due to lack of attendance.

            In 1826, the General Assembly granted title to much of the undeveloped town to Urbanus Dart and William R. Davis.  The City soon had a courthouse, a jail, and about 30 houses and stores.  In order to connect the city with the plantations located inland, Dart and Davis, along with Thomas Butler King of Retreat Plantation on St. Simons Island, formed a company to construct a canal from the Brunswick River north to the Altamaha River.  About this time, Thomas Butler King founded the Brunswick and Florida Railroad and commissioned a survey of the route.

            The city was incorporated in 1836, a newspaper was started in 1838 and a new bank opened.  The Altamaha-Brunswick Canal opened in 1854, followed by the railroad in 1856.  By the start of the Civil War, Brunswick had a population of almost 500 people.

            During the Civil War, wharves were burned, as were several buildings.  When the city was ordered to evacuate, most of the citizens fled to Waynesville.  The canal and railroads ceased operation and Brunswick was abandoned.

            After the Civil War, like St. Simons Island, the city and surrounding areas suffered terribly.  However, with the establishment of the Anson Gould’s lumber mill on St. Simons Island, economic recovery began. Commerce along the canals and rivers was supplemented by railroads connecting the port of Brunswick to the inland cities of Atlanta and Macon.  The turpentine industry, railroading and shipping became mainstays of the economy following the Civil War, as Brunswick became an international port of some consequence.  The last decade of the nineteenth century saw Jekyll Island, “Brunswick by the Sea” become a posh, ultra-exclusive location for the era’s most influential families.  In 1888, the Oglethorpe Hotel opened and tourists arrived by the hundreds.  Sidney Lanier, Georgia’s Poet Laureate, sought relief from tuberculosis in the coastal climate and immortalized the area in his poem, “The Marshes of Glynn.”

            The port continued to expand at the turn of the century with ever-increasing commerce in lumber, naval stores, oysters and cotton.  The economic boom created the magnificent Victorian homes in downtown Brunswick.

            The city survived a major hurricane in 1898, which put much of the area under water.  During World War II, the city became an important shipyard, producing over 100 Liberty Ships.  Following the war, pulp, paper and food processing became major commodities.  Brunswick, like many small cities across the southeast, experienced a slow, steady decline in its central business district in the last half of the twentieth century, as middle and upper-income residents migrated to the suburbs.  However, Brunswick is one of 43 MainStreet cities in Georgia, with an exciting new master plan designed to foster sustained growth in the next decade.  This renewed interest in preserving and restoring the Victorian atmosphere of the city has caused numerous retail and antique shops to return to the community’s original shopping district.

Economic Factors Affecting Brunswick Georgia Real Estate:

            Located along the I-95 transportation corridor, which links major metropolitan areas, such as Boston, New York, and Washington, D.C., approximately 65 miles North of Jacksonville, Florida, and 75 miles South of Savannah, Georgia, Brunswick and the Golden Isles of Georgia are easily accessed by daily jet service through ASA, the "Delta Connection."  The Glynco Jetport provides an 8,000-foot runway, with precision approach for all weather conditions.  St. Simons Island and Jekyll Island each operate their own public airfield with accommodation and complete service for private/corporate aircraft.  Two Class A railway lines, CSX and Norfolk Southern also serve the area.  An AMTRAK terminal is located approximately forty miles west of Brunswick, in Jesup, Georgia.

            In addition to its popularity as a vacation and retirement area, Brunswick Georgia is the major employment centers in Southeast Coastal Georgia.  Brunswick and Glynn County has experienced accelerated growth in population in the past decade, due in part to the location of the Federal Law Enforcement Training Center at Glynco, the selection of Kings Bay as the East Coast Trident Submarine Base, and the development of Colonel's Island as an industrial port of entry.

            The selection and variety of Brunswick Georgia real estate opportunities are expanding.  A local real estate developer has acquired a prime waterfront property at the foot of First Avenue in downtown Brunswick, along with 1800 feet of waterfront property on the Brunswick River.  This developer intends to create a planned community of retail, office and residential uses, along with a marina and dock on the river.  A Savannah developer has purchased the west side of the 1300 block of Newcastle Street to remodel this group of historic buildings for retail and office use.  Other, smaller restoration projects are currently underway in the downtown waterfront area.

            Brunswick, situated on a peninsula surrounded to its south, east and west by rivers and marshes, has been growing in a northerly direction since World War II.  With the opening of the Torras Causeway, many former city residents relocated to St. Simons Island to the east.  However, the areas south of the Turtle River did not experience appreciable growth until the last two years, as completion of the new Sidney Lanier Bridge became a realistic expectation.

            Table 1-1 illustrates population growth for Glynn County during the last three decades and projected future growth for 2020.

TABLE 1-1: POPULATION GROWTH, GLYNN COUNTY

               YEAR                     POPULATION                     ANNUAL CHANGE

                 1970                              50,528                                                

                 1980                              54,981                                            +09%

                 1990                              62,496                                            +14%

                 2000                              67,880                                             +9%

                 2004                              71,960                                             +6%

                 2020                              86,140                                            +20%

Source: National Decision Systems

Note: 2004/2020 figures are estimated.

            Population growth in Glynn County will be primarily attributed to an influx of retirees and second home purchasers as the “baby-boomer” generation realizes its goal to relocate to the coast.  Recent statistics released by the census bureau indicate that 40% of adults age 45-65 will purchase a second home in the next decade.  Of these, 45% will choose to purchase within one hour’s driving time of the coast.  In addition, millions of affluent consumers aged 45-55 are anticipating future price increases and are purchasing coastal retirement homes now.  Because retirees are significant consumers of service-oriented products, such as legal, insurance, financial/investment products, real estate, medical and dental services, these business opportunities will grow in tandem with the retirement population and bring new residents to the area.  These factors should continue to exert pressure on the Brunswick Georgia real estate supply, as new housing is constructed in response to this extraordinary anticipated demand.

            As evidence of the growth in real estate development already taking place in Glynn County, the gross tax digest is currently listed at $3.7 billion, up from $2.28 billion five years ago.

            New residents are introduced to the area through economic and tourism development, both of which are being actively promoted by both the government and the private sectors.  According to research conducted by the Travel industries Association of America, “more than 1.1 million people visit the Golden Isles each year, generating more than $452 million in direct and indirect spending with local businesses.”   The Brunswick Glynn County Visitors Bureau estimates that for every primary job created through tourism, three secondary jobs are also directly attributable to the influx of tourism dollars.  The Walker Cup golf tournament, held in the summer of 2001 at Ocean Forest Golf Club on Sea Island, Georgia, exposed first-hand the Golden Isles to an extraordinary selection of affluent national and international visitors.  In addition, the media coverage of this event further promoted this area to prospective visitors and future residents.  The Warburg Cup events held on St. Simons Island in November 2002 and again in November 2003, along with the G-8 Economic Summit held on Sea Island, focus the world’s eye on Brunswick and the Golden Isles of Georgia.

            A number of construction projects to take advantage of this increasing international exposure of the area, are planned or underway.  Improvement along U. S. Highway 17 will continue with the construction of Liberty Shipyard Park, which is expected to begin in the fall of 2005.  The park and boat launch will be located beneath the north tower of the new Sidney Lanier Bridge and will provide Brunswick’s only public boatlift and ramp.  According to Artie Jones III, City Director of Community and Economic Development, “The quarter mile site sits on the South Brunswick River, adjacent to the old shipyards where the Liberty Ships were built by workers during World War II.”  Plans for the park include an observation deck and boardwalk, picnic and playground areas, restrooms, and a floating dock.  Part of the original bridge will remain for use as a fishing pier.  Eventually, a 1.6-mile bike and jogging trail along Lanier Boulevard is planned to link the part to Howard Coffin Park.

            The Southeast Georgia Health System is adding a 168,000 square foot Ambulatory Care Center to the existing Brunswick campus.  The excellent medical facilities that are now available will continue to attract retirees for whom access to medical care is a high priority.

            The rapid expansion of the tourism industry and the influx of vacation/second home purchasers have created new retail opportunities in the primary goods, service and medical industries in the Golden Isles.  For most residents, all daily necessities, and most luxuries, can now be obtained from providers based in the area.  Retail growth has continued to expand over the past decade.  Over 25,000 square feet of retail and office space has been added to the area immediately surrounding the Colonial Glynn Place Mall in the last three years.  In addition to this retail expansion, national retailers like Home Depot, Circuit City, Bed, Bath and Beyond and T. J. Maxx have located outlets near the Mall.  A Super-Target and Lowe’s Home Improvement Store are slated to begin construction on their new locations in the next six months.  Also near the Spur 25 corridor, expansion continues northwest of Interstate 95.  This trend will continue with the construction of a new Holiday Inn and the planned Steamship Village amusement park.  Each of these new enterprises brings employment, real estate tax, and sales tax revenue to the area and a corresponding increase in demand for Brunswick Georgia real estate.

TABLE 1-2: MAJOR EMPLOYERS, GLYNN COUNTY

                    NAME                                                    NUMBER OF EMPLOYEES

               Federal Law Enforcement Training Center                     2,300

               Sea Island Company                                                        1,800

               Glynn County Board of Education                                  1,700

               SG Regional Health Center                                             1,200

               Koch Cellulose (formerly Georgia Pacific)                       930

               Jekyll Island Authority                                                      850

               Glynn County Government                                               826        

               Rich-SeaPak Corporation                                                  725

               Wal Mart Superstores                                                        570

               King and Prince Seafood Corporation                              520

               Jekyll Island Authority                                                      380

               City of Brunswick                                                             372

               Hercules                                                                            356

               Gulfstream Aerospace                                                       250

               International Auto Processing                                           200

Source: Chamber of Commerce Relocation Guide 2005

            According to the Georgia Department of Labor, Glynn County and a surrounding five-county area, consisting of McIntosh, Camden, Brantley, Ware, and Wayne Counties, provide a diverse labor market of approximately 100,000 persons.  Table 1-2 lists the current major employers in Glynn County.  While tourism is the largest category employer in the county, accounting for over 3,500 jobs in Glynn County, the data in Table 1-2 suggests significant economic diversity among employment categories, particularly between manufacturing and service industries.

            A substantial number of technology industries are based in Glynn County, including Gulfstream Aircraft, Georgia Pacific, and two major seafood-processing entities, Rich-SeaPak and King and Prince Seafood.  One unique service-oriented company, MAP International, distributes donated and purchased medicines and medical supplies to hospitals, clinics, disaster scenes, and relief camps in over 100 countries.  One of the area’s most important economic assets, the Federal Law Enforcement Training Center (FLETC) has expanded its role following 9/11 and the war on terrorism.  According to Connie Patrick, FLETC Director, “In fiscal year, the center will spend $32.5 million of its budget for new facilities and programs directly related to terrorism.”  FLETC is an interagency partnership of 81 federal agencies that provides law enforcement training for more than 44,000 students annually, approximately 69% of all trainees nationally.  Officers and agents travel to Glynn County from all over the world to train, while the facility rotates its staff of instructors every 3 years, approximately.  This influx of students and instructors provide housing opportunities in both rental and sales for the Glynn County area.  A recent study of the economic impact of FLETC on the Glynn County economy, sponsored by the Chamber Development Authority and others, amounts to an astounding one billion dollars each year.

TABLE 1-3: BUSINESS BY TYPE, GLYNN COUNTY, 2005

                    NAME                                                    NUMBER OF EMPLOYEES

               Retail Business                                                                  821

               Finance/Insurance/Service                                                1117

               Agriculture/Forestry/Fishing/Mining                                  69

               Construction                                                                      515

               Manufacturing/Transportation/Warehousing                     296

               Wholesale Trade                                                               127        

               Public Administration                                                        121

               Arts/Entertainment/Recreation                                           58

               Healthcare/Social Services                                                393

               Accommodations/Food Service                                        407

               Real Estate/Rental/Leasing                                                191

               Professional/Scientific/Technical                                       340

               Total                                                                                4,475

Source: Georgia Department of Labor, 4th Quarter 2000

            Based on a five-year trend, Glynn County has experienced steady, sustained growth in income and a decline in unemployment.  The growth in new residential and commercial real estate construction activity in Glynn County has contributed to the high employment rates experienced by the area in the last five years.  Skilled laborers from Brantley, Ware, Wayne and McIntosh Counties are drawn into the area each day to support the expansion of commercial and residential construction in Glynn County. 

            As competition for available workers increases due to high employment rates, wages and salaries are increasing correspondingly.  The median family income in Glynn County rose 30.4% between 1989 and 1998.  In 1998, Glynn County had the fourth highest median family income in Georgia, at $42,500.  Glynn County is number-one in per capita income outside of Atlanta, with per capita income of $29,511, a record that it has held consistently.  Unemployment has also maintained as astounding 3.4% rate during this period.  “We are no longer the best kept secret on the world stage,” commented Woody Woodside, President of the Brunswick-Golden Isles Chamber of Commerce.  This economic diversity, coupled with an increasing influx of retirees and the significant expansion of the Port of Brunswick, is expected to fuel continued population growth and demand for Brunswick Georgia real estate throughout this decade.

TABLE 1-3: HOUSEHOLD INCOME, GLYNN COUNTY

                       YEAR                                         HOUSEHOLD INCOME           

                        1990                                                          $36,344    

                        1999                                                          $58,544                            

                        2004                                                          $65,716

                        2008                                                          $76,616

Source: Georgia Department of Community Affairs, 2004

2008 Figure is an Estimate

            The completion of the new Sidney Lanier Bridge, with 185 feet of clearance over the Turtle River, and the deepening of the harbor to 36 feet are expected to bring an additional economic boost to Glynn County.  According to Georgia Ports Authority officials quoted in a recent article in the 2005 Edition of the Chamber of Commerce Relocation Guide, “Brunswick’s proximity to major U. S. markets and cost savings in transportation to dealerships in conjunction with excellent auto processing services, played a major role in the $100 million the Authority has spent on upgrading facilities at the Port of Brunswick over the past three years.”  In 2003 alone, the local port handled more than 314,000 auto units, representing most major import models.  These statistics make the Port of Brunswick the fourth largest auto port on the East Coast.

            According to Doug Marchland in an October 2002 interview with The Florida Times Union, “with a new bridge and deeper shipping channel, the port of Brunswick should skip over Jacksonville and Baltimore to become the second largest auto importer on the Atlantic within ten years.”  In the summer of 2002, Porsche Cars of North America selected Brunswick as its new Southeast import distribution center and Volvo Cars of North America announced it would move an estimated 30,000 vehicles through Brunswick annually, according to Marchland.  Cars and machinery are only two of the products showing an increase in port traffic.  Since January 2002, the Port of Brunswick also moved more than 1.5 million tons of bulk cargo, a 6.3 percent annual increase from 2001. Bulk tonnage through the Colonels Island Agri-Bulk facility was up 128,934 tons to nearly 600,000, a 28 percent increase.  Diverse products such as grains, feed grain minerals, wood pulp, linerboard, plywood, paper goods, gypsum, limestone and petroleum products are processed in Brunswick at three modern deepwater terminals.    According to Bill Shipp, in a 2004 article published by Georgia’s Coastal Illustrated, “Georgia’s ports will be the most significant factor in economic development in the state during the coming decade, offering a huge boost in employment, income and related development in the southeast coastal areas.”

            Eight steamship lines, including Wallenius-Wilhelmsen, one of the world’s largest car carriers, call on the Port of Brunswick and more than ten trucking lines provide transportation services.  Two class-A rail providers accommodate 200 hopper cars.

            In addition to the port expansion, 2005 will be a milestone year for the Glynn County Airport Commission with the opening of the new passenger terminal at the Brunswick Golden Isles Airport.  The new 33,500 square foot Mediterranean style terminal facility is part of a $10.3 million airport improvement package.  The expansion is fueled by continued growth in passenger traffic, with 80,000 passengers boarding in 2004.

                In summary, Brunswick and Glynn County should continue to offer increasing levels of opportunity for retail, office, commercial and residential development, reflecting the excess of demand relative to supply anticipated during the next decade.  Brunswick and its mainland areas, particularly Downtown Brunswick and its waterfront, South Glynn County along U. S. Highway 17 and North Glynn County near State Road 99 represent areas of continuing population expansion from retirees, corporate transfers, and families that present a number of different opportunities for successful commercial development and residential construction.  Projected income per household for the next five years show a rapid trend upward, while employment opportunities will exceed the available labor force.  These factors indicate that the area’s population will continue to mature and become more affluent in future years.  These market trends validate the long-term strength and viability of the Brunswick Georgia real estate market.