McCraney Property Company secures $84M in financing for Logistics 16 at Ottawa Farms Phase 1

MIAMI, May 20, 2025 – JLL Capital Markets announced today, in partnership with McCraney Property Company, the successful arrangement of $84 million in senior financing for Phase I of Logistics 16 at Ottawa Farms, a 1,007,800-square-foot, Class A industrial development in Savannah, Georgia.

The financing, structured by JLL on behalf of McCraney Property Company, includes a three-year, floating-rate loan through Truist.

Developed and delivered by McCraney in 2024, Phase I, which is currently 84.8% leased, consists of three front-load distribution centers with 32- to 36-foot clear heights, ample dock doors and ESFR sprinklers. Over 50% of the property’s NRA was pre-leased during construction, underscoring the strong local capacities of the sponsor and attractiveness of the project. Upon completion, the entire project will include nine buildings and over 4.4 million square feet of Class A industrial space.

The property occupies a strategic location in Savannah, situated approximately 16 miles from the Georgia Port Authority. This prime location offers unparalleled access to the largest single-container facility in North America, which is also the nation's second-busiest and fastest-growing port. Positioned off Jimmy Deloach Parkway, Logistics 16 at Ottawa Farms also provides excellent allows easy access to major Southeast markets, including Atlanta, Orlando and Charlotte.

The JLL Capital Markets Debt Advisory team was led by Senior Managing Director Melissa Rose, Senior Director Michael DiCosimo and Associate Nicole Barba, who worked closely with McCraney Property Company throughout the financing process.

“Absorption for this product has been strong, supported by the continued activity in the local Savannah market,” said Steven McCraney, President and CEO of McCraney Property Company. “Melissa Rose and her team executed the procurement of this debt instrument with Truist flawlessly.” 

Rose added, “Logistics 16 at Ottawa Farms presented a compelling financing opportunity in one of the nation's premier industrial markets. We are confident that this Class-A development, backed by an experienced sponsor like McCraney Property Company, is poised to capitalize on the robust market fundamentals and deliver long-term value.”

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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McCraney Property Company (MPC) is a leading private real estate investment firm focused on the acquisition, development and management of industrial properties in the Southeast. MPC was recently named one of National Real Estate Investor's Top 50 National Industrial Owners and Developers. Founded in 1989, they are one of the most active developers of high-finish industrial real estate in the Southeast with over 25 million SF developed, acquired, under construction, or in the development pipeline.