Based on market drivers such as e-commerce, last mile delivery, and infill development, I believe that the industrial market is poised for 20 years of outsized growth. This momentum is due in part to technological advances in warehouse operations, the continued boom of e-commerce, and the advancements of autonomous vehicles, all aimed at getting the product to consumers quicker. Combined with statistics that paint the picture of strong operational fundamentals in the industrial market – vacancy remains steady at lowest levels since first quarter 2001, and net absorption has experienced 31 consecutive quarters of positive demand as of quarter four 2017.
The future of industrial is now.
Our company’s unrelenting development focus stems from an unwavering belief that innovation comes from delivering what could be rather than what is the standard. As Henry Ford once said, “If I had asked people what they wanted, they would have said faster horses.”
As the first to view industrial real estate as the new retail, our design approach to the exterior of the buildings reflect that of retail storefront rather than a typical industrial park. Today, we are focused on meeting the modern supply chain needs by providing a network of light industrial properties that serve a crucial mid-point in the delivery of goods to the end user. The market demands increasingly shorter delivery times with light industrial facilities that need to be located as close as possible to the end of the supply chain, satisfying tenants who do business in a 5 – 50-mile radius from the customer.
For the first time in McCraney Property Company history, we have expanded outside of Florida. While the activity of our company in new markets may appear to be taking place at a rapid rate, for years I’ve had my eye looking due north to “untapped markets” throughout the Southeast scouting new areas for ‘hubs’ and ‘spokes.’ Our recent acquisition history is a reflection of that due diligence. We are actively developing to the needs of today’s tenants and the evolving requirements of tomorrow’s industrial market.
We continue to proceed as a leading developer of speculative industrial product. I am proud to be surrounded by a team that is making the growth of our footprint in the Southeast seamless. Currently, we have 7,068,473 square feet of active speculative industrial projects under development in Florida, Georgia, and the Carolinas.
Steven E. McCraney
President & CEO
McCraney Property Company