Savannah, Ga., industrial project secures $62.83m in construction financing
McCraney Property Co. has plans to develop Phase I of Logistics 16 at Ottawa Farms, a three-building, class A industrial facility totaling 1,007,800 square feet in Savannah, Ga.
JLL Capital Markets worked on behalf of the borrower to secure the three-year construction financing.
The project will comprise nine buildings totaling more than 4.5 million square feet of Class A industrial space. The first phase of the project consists of three front-load buildings and will feature 225 loading doors of various sizes, 185-foot-deep truck courts, 330 car spaces and 305 trailer spaces.
Phase I of Logistics 16 at Ottawa Farms is located on an 85.6-acre site at 702 Bloomingdale Road. The property has strong expressway access to the Port of Savannah, the Savannah/Hilton Head International Airport and Interstates 16 and 95. The site is within four hours of major Southeast markets, including Atlanta, Orlando and Charlotte, N.C.
The Port of Savannah is a core economic dr