JLL Capital Markets arranges $63 million financing for the development of Phase I of Logistics 16 at Ottawa Farms in Savannah, GA

 

Melissa Rose

 

ATLANTA, GA – JLL Capital Markets has arranged $62.83 million in construction financing for the development of Phase I of Logistics 16 at Ottawa Farms, a three-building, Class A industrial facility totaling 1,007,800 square feet in Savannah, Georgia.

Michael DiCosimo

JLL worked on behalf of the borrower, McCraney Property Company, to secure the three-year construction financing.

The JLL Capital Markets team representing the borrower was led by Managing Director Melissa Rose, Director Michael DiCosimo and Analyst Mateo Bolivar.

 The entire project will comprise nine buildings totaling over 4.5 million square feet of Class A industrial space.

Mateo Bolivar

The first phase of the project consists of three front-load buildings and will feature 225 loading doors of various sizes, 185’ 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.

 

 Port of Savannah

The site is within four-hours of major Southeast markets, including Atlanta, Orlando and Charlotte.

 The Port of Savannah is a core economic driver in this market, with a record 5.76 million TEUs processed at the port in 2022, an 8% increase over 2021 figures.

By 2030, the port is projected to have over 9 million TEUs of capacity driven by over $2.5 billion of public investment through the Georgia Ports Authority.

 This level of activity and investment will continue to cement this submarket as one of the strongest industrial clusters in the nation.

 

 

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CONTACT:

Cierra Lacasse, JLL Associate

 Public Relations

Phone: +1 602 648 8701

Email:  Cierra.Lacasse@am.jll.com