McCraney Property buys land near Atlanta for industrial development

The West Palm Beach-based company acquired 44.3 acres for a three-building industrial park that would span more than 600,000 square feet

Miami /
Apr.April 01, 2018 10:00 AM

Steven McCraney

West Palm Beach-based McCraney Property Company bought 44.3 acres near Atlanta for a 615,572-square-foot industrial development.

McCraney Property paid $4.3 million for the industrial development site in Buford, a northeastern suburb of Atlanta with easy access to Interstate 85 and Interstate 985.

The company expects to break ground in mid-April for construction of a three-building industrial park called 985 Lanier Logistics.

The industrial buildings will range in size from 167,080 square feet to 209,252 square feet to 236,240 square feet. Tenant spaces can range upwards from 25,000 square feet at each of the three buildings.

“Record absorption, historically low vacancy rates and rising sales activity in the Atlanta industrial market are creating unprecedented industrial demand,” Steven McCraney, president and chief operating officer of McCraney Property, said in a prepared statement.

Bilijack Bell, a partner of brokerage firm Wilson, Hull & Neal, represented McCraney Property in its $4.3 million acquisition of the Buford development site. Frank Simpson, founder and president of The Simpson Company of Georgia Inc., represented the seller, Northeast Georgia Health System Inc.

McCraney Property currently has 6.6 million square feet of speculative industrial developments under way in Florida, Georgia and the Carolinas. [Atlanta Business Chronicle]Mike Seemuth


Related Articles

arrow_forward_ios
LBCW Investments' Clay Hamlin III with 1100 25th Street and 1426 Skees Road (Loopnet, LBCW)
Industrial play: Alliance HP trades one West Palm complex for another
Industrial play: Alliance HP trades one West Palm complex for another
Seagis' Bradlee Lord with 10900 Northwest 138th Street (Seagis Property Group, iStock)
Seagis doubles down in Medley, paying $24M for two industrial facilities
Seagis doubles down in Medley, paying $24M for two industrial facilities
 EverWest Real Estate Investors’ Rick Stone with  635 Northwest Fourth Ave (LinkedIn, Loopnet)
EverWest pays $14M for Fort Lauderdale industrial property
EverWest pays $14M for Fort Lauderdale industrial property
Seagis Property Group's Bradlee Lord and 13399 Northwest 113th Avenue Road in Medley (Google Maps, Seagis)
Outdoor storage demand keeps on truckin’: Seagis pays $15M for trailer parking lot in Medley
Outdoor storage demand keeps on truckin’: Seagis pays $15M for trailer parking lot in Medley
Lease roundup: BH3’s Fabrick project in Fort Lauderdale’s Progresso Village fully leased
Lease roundup: BH3’s Fabrick project in Fort Lauderdale’s Progresso Village fully leased
Lease roundup: BH3’s Fabrick project in Fort Lauderdale’s Progresso Village fully leased
From left: Dave Benson of Morningstar Properties; Tim Petrillo of Urban Street Development; 125 Northwest Fourth Street in Fort Lauderdale (Urban Street Development, Morningstar Properties, Google Maps)
Morningstar pays $30M for self-storage facilities in Fort Lauderdale’s Flagler Village
Morningstar pays $30M for self-storage facilities in Fort Lauderdale’s Flagler Village
Link Logistics' Luke Petherbridge (Link Logistics, Calder Casino, iStock)
Take two: Blackstone affiliate proposes industrial complex with movie studio at Calder’s horse racing track
Take two: Blackstone affiliate proposes industrial complex with movie studio at Calder’s horse racing track
CenterPoint Properties' Bob Chapman with 17707 Northwest Miami Court (Platformreverecre, Google Maps)
CenterPoint picks up Miami Gardens truck storage facility for $47.5M
CenterPoint picks up Miami Gardens truck storage facility for $47.5M
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...