Thursday, May 10, 2012

McCraney Property Co. Signs Lease for 150,000-SF Build-To-Suit in Its Orlando Central Park Project


ORLANDO, FL and  WEST PALM BEACH, FL – McCraney Property Company, an integrated developer and manager of commercial/industrial flex and warehouse distribution properties located throughout Florida, announced that it has signed a 10-year lease on a 150,000 square-foot  build-to-suit project on 25 acres in its Orlando Central Park project.

 “This is the first Central Florida project greater than 100,000 square feet to be constructed in the last four years,” said Steven McCraney (top right photo), CEO of the company he founded more than two decades ago.

The tenant is Dade Paper, a large regional distributor of disposables, janitorial supplies and equipment.  The company is relocating its current Central Florida facility to modernize and accommodate the growing demand for its products and services. 

 CBRE Senior Vice President David Murphy (top left photo) represented the tenant on the deal.

 “We are excited to be the beneficiary of the strengthening Orlando industrial market being fed by demand for Class A industrial/flex space along the I-4 corridor,” McCraney said.

Land development is expected to begin within the next month.

 Orlando Central Park/John Young Parkway (middle right photo) comprises 7,000 acres and includes 10 million square feet of multi-tenant industrial and low-rise office product. 

 In addition to the build-to-suit project, McCraney recently inked three new leases in Orlando Central Park including:

  • Pepperidge Farm, 12,900 square-feet  for an office, warehouse and distribution site; 
  • Savery USA, a supplier of stainless steel food processing and packaging equipment, for the food and dairy industries,  leased 15,676 square feet for warehouse and distribution;
  • Ryan Herco Products Corp., a national distributor of fluid handling products and high value filtration, leased 15,000 square feet.

“Although the market has been brutal for the last four years, we are encouraged by the recent pickup in leasing activity. As we all know, when the economy improves, people are willing to get off the sidelines and invest in their businesses,” said McCraney.

 McCraney Property Company (www.mccraneyproperty.com) develops and manages commercial/industrial, office/flex, office, and warehouse distribution properties located in West Palm Beach, the Treasure Coast and Orlando, Florida. 

The company has developed corporate holdings exceeding 2,000,000 sq. ft.  Services include development of class A business parks, acquisitions, joint venture investments, construction and property management. 

Led by President and CEO Steven McCraney, the company is very active in the commercial real estate industry and through its philanthropic endeavors in the communities it serves. 

For more information, call (561) 478-4300.

 Media Contact:

 Don Silver (donsil@boardroompr.com) or
Teresa Shum (tshum@boardroompr.com) of Boardroom Communications,
954-370-8999


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