JLL Arranges $60.07M Construction Loan for McCraney Property Company, AEW's 1M-SF Firetower 77 in Rock Hill
JLL Capital Markets has arranged $60.07 million in construction financing for Firetower 77, a planned 1,002,205-square-foot Class A industrial logistics center in Rock Hill, South Carolina, on behalf of McCraney Property Company and AEW Capital Management, L.P. (AEW), the firm announced Oct. 12, 2026. The loan was placed through a global bank, and the project is expected to deliver in the fourth quarter of 2027.
The JLL Capital Markets team was led by Senior Managing Director Melissa Rose and Senior Director Michael DiCosimo, along with Director Kate Rathman, Associate Nicole Diaz and Analyst Magnus Kron.
Firetower 77 Construction Financing Details
The $60.07 million loan equates to roughly $59.94 per planned square foot. JLL structured the financing for McCraney Property Company and AEW, which are developing the project. The site is in Rock Hill, within the Charlotte metropolitan area.
Firetower 77 is also marketed as Firetower77 Industrial Park. The project is identified at 0 Firetower Road and Marine Drive, Rock Hill, S.C. 29730, on a site of about 96 acres.
Property Specifications
The development consists of a single cross-dock building with the following features:
- 1,002,205 square feet of Class A industrial space
- 40-foot clear heights
- 200-foot truck courts
- 52-by-50-foot column spacing with 60-foot speed bays
- ESFR sprinklers
- 608 auto parking spaces and 392 trailer parking spaces
The facility is designed for high-volume logistics and distribution operations.
Location and Regional Connectivity in the Charlotte Market
The site sits along the Interstate 77 corridor, less than one mile from the interstate, with immediate highway access. According to JLL, Charlotte Douglas International Airport and Norfolk Southern's intermodal facility are within a 30-minute drive, and major East Coast ports are within a 120-minute drive. York County economic-development materials place the site approximately 24 miles from Charlotte Douglas International Airport.
JLL said the location allows logistics providers to reach more than 21 million residents within a four-hour drive, placing 60% of the U.S. market within 24 hours. The firm also said the project is near established institutional neighbors and corporate headquarters and is positioned to attract operators in e-commerce, manufacturing, third-party logistics and retail distribution. JLL cited a limited development pipeline for mega-box facilities; that characterization reflects the sponsors' investment thesis rather than an independently verified market statistic.
Market Context
The financing comes as Charlotte's industrial market shows signs of stabilization after a major construction cycle. Overall industrial vacancy in the Charlotte market declined 20 basis points quarter over quarter to 7.4% in the second quarter of 2026. New development has expanded tenant choice, and building quality, highway access, trailer capacity and delivery certainty are increasingly important competitive factors for large-format space.
Nationally, JLL reported that North American industrial leasing volume reached 17 million square feet in the second quarter of 2026, up 5 million square feet from the prior year, supported by third-party logistics and e-commerce demand. JLL's second-quarter revenue was $6.9 billion, up 11% year over year, with Capital Markets Services revenue up 19% in local-currency terms, led by investment sales, debt and equity advisory.
About the Sponsors
McCraney Property Company, founded in 1989, is a private real estate investment firm focused on the acquisition, development and management of industrial properties in the Southeast. The firm has developed, acquired, placed under construction or has in its development pipeline more than 25 million square feet. It was recently named to National Real Estate Investor's Top 50 National Industrial Owners and Developers.
AEW has provided real estate investment management services for 45 years. The firm and its affiliates manage $83.7 billion in private real estate equity, debt and listed securities across North America, Europe and Asia as of June 30, 2026.
JLL Capital Markets provides capital solutions for real estate investors and occupiers, including investment sales and advisory, debt advisory, loan sales and equity and fund placement. The group has more than 3,000 specialists in nearly 50 countries.
Outlook
Firetower 77 is scheduled to deliver in the fourth quarter of 2027. The project will enter a Charlotte-area market in which vacancy has begun to decline while new large-format supply continues to be built.