McCraney Property Company purchased a 43.9-acre parcel at the crossroads of State Road 429 and Florida’s Turnpike in Ocoee to make way for a new 652,696-square-foot industrial park.
The proposed industrial park would span across three buildings: building 100 will be 104,950 square feet, building 200 will be 145,164 square feet, and building 300 will be 402,582 square feet. The project has been named “Distribution 429.”
“Orlando’s already-bustling industrial market just got more active,” said Deidre Krause of The PR Company, who handles public relations for McCraney Property Company. “With a new exterior look (and) keeping with the company’s belief that industrial is the new retail, Distribution 429 will reside in the epicenter of Ocoee — one of Central Florida’s submarkets with the lowest vacancy rates for industrial space.”
A groundbreaking ceremony is slated for this month. Each building at the new industrial park will feature McCraney Property Company’s signature clean façades and high-finish benchmark-setting warehouse design, the company stated in a prepared statement.
“The Ocoee market is Central Florida’s newest epicenter for industrial growth,” President and CEO of McCraney Property Company Steven McCraney said. “With the demand for last-mile hubs continuing to outpace supply, industrial developments along key arteries that enable tenants to move product throughout the Greater Central Florida market and beyond will prove invaluable to company’s distribution strategies.”
Ocoee is just one location in the southeast seeing development from McCraney Property Company. The company also has projects in some form of development underway in Georgia, South Carolina, North Carolina and in other areas of Florida.
“Shallow bay industrial buildings, ranging from 180 feet to 440 feet in depth, is the target property size our company is developing throughout the Southeast, fulfilling demand from tenants seeking to do business in a 5- to 50-mile radius from their customer,” McCraney said. “The market segment for industrial assets under 250,000 square feet represents 70% of the total U.S. warehouse stock but only 17% of completions, as the average U.S. industrial user ranges from 15,000 to 50,000 square feet. As demand for industrial product remains strong in Florida’s major markets, we are already seeing strong tenant interest at Distribution 429.”