McCraney Property buys 43.9 acres in Central Florida for industrial property development
The West Palm Beach-based firm plans to develop three industrial buildings in Ocoee that would total 652,696 square feet
West Palm Beach-based McCraney Property Company acquired 43.9 acres near Orlando for a 652,696-square-foot industrial property development.
McCraney Property plans to construct three industrial buildings for e-commerce fulfillment. Their sizes will be 104,950 square feet, 145,164 square feet and 402,582 square feet.
The development site is in Ocoee, a suburb northwest suburb of Orlando where State Road 429 intersects with Florida’s Turnpike. Construction is expected to start this month.
Northwest Orange County, where Ocoee is located, has one of the lowest industrial vacancy rates in Central Florida, according to recent market reports.
“The Ocoee market is Central Florida’s newest epicenter for industrial growth,” Steven McCraney, the president and chief executive officer of McCraney Property Company, said in a prepared statement.
The company has about seven million square feet of speculative industrial developments under way in Florida, Georgia, South Carolina and North Carolina.
William “Bo” Bradford, co-president and principal of Lee & Associates, represented entity that sold the 43.9-acre development site in Ocoee to McCraney Property. – Mike Seemuth