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Capital Development Partners has secured a $77.3 million construction loan for the development of three speculative industrial facilities spanning 1.2 million square feet at the Central Port Logistics Center in Savannah, Ga. Marcus & Millichap’s IPA Capital Markets division arranged the financing, originated by a life company.
Proceeds go toward the completion of vertical construction and the lease-up process, according to a company statement. CDP expects the latter to finish by November 2026.
The project consists of two rear-load structures set to measure 168,480 and 284,480 square feet. The duo is slated to feature 32-foot clear heights each and a total of 93 dock doors, among other specifications. What’s more, a third 769,500-square-foot building will rise with a cross-dock configuration.