McCraney Property Company secures $28.8M in construction financing for Apex Logistics

MIAMI, Aug. 22, 2025 – JLL Capital Markets announced today, in partnership with McCraney Property Company, that it has arranged $28.8 million in construction financing for Apex Logistics, a two-building, 305,470-square-foot Class A industrial development in Apex, North Carolina, within the Raleigh metropolitan area.

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

Situated on a 31.4-acre site on Goodwin Road in Apex, the development will consist of two rear-load industrial buildings with clear heights of 32 feet. Building 100 will total 142,035 square feet and include 46 dock doors with four drive-in doors. Building 200 will measure 163,435 square feet with 51 dock doors and four drive-in doors. Both buildings will offer 180-foot truck court depths, ESFR sprinkler systems and ample parking.

The project is strategically located just 1.5 miles from the highly trafficked Interstate 540 and immediately off US Highway 64, providing exceptional regional connectivity. This premier location offers direct access to downtown Raleigh in under 25 minutes and connects tenants to more than 12 million residents within a three-hour drive. It is also just 15 minutes from Research Triangle Park, the nation’s largest research park and home to more than 300 companies, including leading technology and healthcare firms.

Construction began in May 2025 and is now underway, with completion anticipated in August 2026.

"This development underscores McCraney Property Company’s strategy of investing in supply-constrained, high-growth corridors across the Southeast," said Steven E. McCraney, President & CEO, McCraney Property Company. "Partnering with JLL and Pinnacle allows us to bring a best-in-class industrial product to one of North Carolina’s most dynamic logistics hubs."

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

"McCraney Property Company brings an impressive track record to this development, with over 25 million square feet of industrial projects completed or in the pipeline across the Southeast," added Rose. "Apex Logistics offers significant value-creation potential in one of North Carolina's most supply-constrained and fastest-growing industrial corridors."

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.

Pinnacle Financial Partners provides a full range of banking, investment, trust, mortgage and insurance products and services designed for businesses and their owners and individuals interested in a comprehensive relationship with their financial institution. The firm is the No. 1 bank in the Nashville-Murfreesboro-Franklin MSA, according to 2024 deposit data from the FDIC. Pinnacle is No. 11 on FORTUNE magazine’s 2024 list of 100 Best Companies to Work For® in the U.S., its eighth consecutive appearance and was recognized by American Banker as one of America’s Best Banks to Work For 12 years in a row and No. 1 among banks with more than $10 billion in assets in 2024.

The firm began operations in a single location in downtown Nashville, TN in October 2000 and has since grown to approximately $52.6 billion in assets as of December 31, 2024. As the second-largest bank holding company in Tennessee, Pinnacle operates in several primarily urban markets across the Southeast.