McCraney Property Co. Closes on its Bent Oak Industrial Park Land Acquisition in Metro Orlando, FL

  

Rendering of planned Bent Oak Industrial Park, adjacent to Florida Turnpike and Taft-Vineland Road, metro Orlando, FL

  

Steven E. McCraney

 ORLANDO, FL and WEST PALM BEACH, FL,  Feb. 24, 2014 – McCraney Property Company (MPC) closed on a prime, fully entitled 39-acre industrial site adjacent to the Florida Turnpike and Taft-Vineland Road in metro Orlando.

The site will be home to McCraney’s new Bent Oak Industrial Park, which will consist of 700,000 square feet of Class A warehouse-distribution product.

 The land purchase was all cash. Development financing was obtained from BankUnited.

 “I have a tremendous passion for Orlando development,” said Steven E. McCraney, SIOR, CCIM, President and CEO of McCraney Property Company, which is currently developing almost 1 million square feet of spec industrial in Central Florida. “We continue to be bullish on the Central Florida industrial market.”

Matthew Sullivan

The centrally located project includes more than 1,200 feet of Florida Turnpike frontage and is located just minutes away from the Beachline Expressway-Florida Turnpike interchange.

Clark Stranahan of C4 Architecture was selected as the managing architect.

Phase one of Bent Oak includes two state-of-the-art industrial buildings. Building I will be a 225,000-square-foot, 32’ clear, front-load distribution facility. Building II will be a 475,000-square-foot, 32’clear, cross-dock distribution facility. The site plan has been submitted to the county for approval. Groundbreaking is expected in early Q2 of 2014.

Wilson McDowell

Matthew Sullivan, Wilson McDowell and Bobby Isola of Colliers International Central Florida, represented the seller in the transaction. The same Colliers team has been appointed exclusive leasing agent for the project. For more information, please call (407) 843-1723.

 MPC is also in the process of constructing two spec industrial buildings, totaling 243,000 square feet, in John Young Business Park with its joint venture partner Clarion Partners. The shells of both buildings are now finished.

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

Robert Isola

 The company has developed corporate holdings exceeding 2,500,000 square feet. 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 or 407-852-0701

 For a complete copy of the company’s news release, please contact:

Don Silver (donsil@boardroompr.com) or

 Ashley Fierman (afierman@boardroompr.com)

 Boardroom Communications, 954-370-8999/954-629-7523.