McCraney Property Secures Financing for Savannah Industrial Facility
$62.83 million to go to development of one-million square foot facility in Savannah, GA
McCraney Property Company secured $62.83 million in financing for Phase I of Logistics 16 at Ottawa Farms, a three-building, Class A industrial facility totaling one-million square feet in Savannah, Georgia.
The entire project will take three years and is comprised of nine buildings totaling over 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’ 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 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.
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.