United States, Sept. 29 -- JLL Capital Markets announced it has arranged $102.4 million in construction financing for the first phase of Otay Business Park, a speculative Class A industrial development in the Otay Mesa submarket of San Diego.JLL worked on behalf of a joint venture between Elevation Land Company and a real estate fund advised by Crow Holdings Capital to secure a three-year, floating-rate loan through New York Life Real Estate Investors.Phase I of Otay Business Park will deliver 612,240 square feet across four free-standing warehouse and distribution buildings ranging from 79,760 to 233,880 square feet. The single-story, reinforced concrete tilt-up structures feature 32-foot clear heights and are divisible into suites as smal...