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McCraney Property Company Acquires 54-Acre Site to Develop 610,700-SF Airport South Business Park within One Mile of Charlotte Douglas Int’l Airport

Industrial Demand in Charlotte Reflected by Historically Low Industrial Vacancy Rates Prompts Bullish Spec Developer to Choose Location for Company’s Continued Southeast Expansion
 

December 19, 2017 – Charlotte, NC – McCraney Property Company, the most active independently-owned developer of high-finish industrial properties in Florida, purchased a 54-acre land parcel near the intersection of Billy Graham Parkway and West Boulevard less than one mile from the Charlotte Douglas International Airport in Charlotte, North Carolina. The site will be home to Airport South Business Park, a new 610,700-square-foot speculative industrial development, part of McCraney Property Company’s more than 2 million square feet of industrial projects currently under development or planned throughout the Southeast U.S. including the 507,512-square-foot Logistics 77 @ Riverwalk in Rock Hill, South Carolina.

Providing easy access to Interstates 77, 485, and 85, Airport South Business Park will include five Class A industrial buildings featuring McCraney Property Company’s distinct, clean, high-finish warehouse design:

Building 100 – 107,200 square feet
Building 200 – 154,000 square feet
Building 300 – 138,600 square feet
Building 400 – 111,000 square feet
Building 500 – 99,900 square feet

“Airport South Business Park will be a last mile, infill location providing quality end users requiring freight forwarding and fulfillment needs unparalleled access to the airport, Uptown Charlotte, the Greater Charlotte region, and the overall Southeast U.S.,” said Steven McCraney, President and CEO of McCraney Property Company. “The park’s incredible position and reach is the stand-out factor in the market which is currently experiencing extremely high demand represented by historically low industrial vacancy rates.”

Recent market reports note Charlotte’s overall industrial vacancy rate is at 4.87 percent. Charlotte’s Airport/West submarket experienced the second highest positive absorption during third quarter 2017 with 195,410 square feet absorbed.

“The Charlotte region continues to be undersupplied […]

By |January 11th, 2018|Press Releases|Comments Off

McCraney Property Company Expands its Southeast Footprint, Management Team to Oversee the Development of 1.7msf of Industrial Space

Establishing presence in new territories for McCraney Property Company is seasoned industry professional, David Williams, who joins as Principal-Managing Director
 

October 20, 2017 – Charlotte, NC – McCraney Property Company, Florida’s most active private developer of modern high-finish industrial distribution properties, has expanded both its footprint in the Southeast to include projects underway in Georgia, North and South Carolina, and its management team.

David Williams has joined as Principal-Managing Director and will be sourcing, underwriting, and overseeing development projects from predevelopment through construction stabilization from the company’s newly established Charlotte office. Williams, a well-experienced managing director most recently with GRH Development Resources, is starting his new position with 1.7 million square feet of industrial projects under development or planned in Georgia, North and South Carolina, on behalf of McCraney Property Company.

“With land scarcity along major thoroughfares in Florida, it was a natural decision to move north, entering new markets ripe for quality industrial development geared towards today’s hub-and-spoke driven logistics tenants,” said Steven McCraney, President and CEO of McCraney Property Company. “To guarantee a quick timeline for success in the Carolinas and Georgia, it was essential that we bring on the best and brightest talent to ensure the thoughtful execution we are known for in Florida translates on a regional level throughout management, leasing, and development services.”

McCraney Property Company currently has land under contract in Atlanta, Ga., and Rock Hill, S.C., with industrial parks proposed that would span 605,500 and 507,512 square feet, respectively. The planned projects trail the firm’s recent announcement of active construction at Logistics 77 @ Riverwalk, a 601,300-square-foot speculative industrial development located in the Riverwalk Business Park in Charlotte, N.C. Scheduled to top off by the end of 2017, Logistics 77 @ Riverwalk is expected […]

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McCraney Property Company & Northwestern Mutual Partner to Develop 27 Logistics Park, Class A Spec Industrial Product Adjacent to Park 27 in Davenport, FL

207,676 SF Proposed Project Solidifies McCraney Property Company as One of the Few Private Developers Tapping East Polk’s Burgeoning E-Commerce Corridor for Development
 

OCTOBER 2, 2017 – TAMPA, FL – McCraney Property Company, a leading developer of modern high-finish industrial distribution properties, and Northwestern Mutual are partnering to develop 27 Logistics Park, a 207,676-square-foot spec class A industrial warehouse to be located on a recently acquired 12.67-acre parcel fronting U.S. Highway 27 at the intersection of Deen Still Road in Davenport, Fla.

27 Logistics Park is adjacent to McCraney Property Company’s 602,971-square-foot two-building class A institutional-grade industrial spec development at Park 27, at which Northwestern Mutual is also a partner, and just north of Walmart’s recently completed 2.2 million-square-foot distribution and e-commerce center in Davenport. The newest proposed development in East Polk County is poised to benefit from the strategic land acquisition and construction of “last mile” distribution channels that the leading private industrial developer has been at the forefront of along major thoroughfares in South and Central Florida, and now further north into the Carolinas.

“East Polk County is a burgeoning e-commerce corridor, and we are one of the few private developers who has tapped this market for development, first with Park 27 and continuing with 27 Logistics Park,” said Steven McCraney, President and CEO of McCraney Property Company. “The uptick in jobs East Polk – 2,000 alone from Walmart’s new distribution and e-commerce center plus those resulting from the relocation of Communications Test Design, Inc. (CTDI) into 305,976-square feet at Park 27 – will create demand for the workforce needed to fill the e-commerce demand of national brands coming to Central Florida, and in turn, drive residential housing.”

As of second quarter 2017, market reports for Polk […]

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McCraney Property Company Secures Two International Tenants, PODS® and Terminix, to its New Distribution Center at Turnpike Business Park

Newest Tenants to Occupy More Than 40,000 SF Within Highly Sought-Out New Warehouses in
West Palm Beach, FL, Developed by McCraney Property Company
May 8, 2017 – West Palm Beach, FL – McCraney Property Company, the most active independently owned developer of high-finish industrial properties in Florida, today announced two new leases signed with international tenants at its development Turnpike Business Park, an industrial spec project spanning 353,000 square feet located at 388-563 North Cleary Road in an unincorporated area of West Palm Beach, Fla.

PODS® (Portable On Demand Storage), a moving and storage company based in Clearwater, Fla., offering service in 58 states, provinces, and territories throughout the U.S., Canada, and Australia, has taken 31,000 square feet of newly constructed distribution space within Turnpike Business Park.
Terminix International Company, L.P., one of the largest pest control companies globally, operating in 47 states in the U.S. and 22 countries around the world, has chosen to expand operations and occupy 9,007 square within Turnpike Business Park.

PODS, which currently occupies distribution space within the West Palm Beach market, required a larger footprint to continue to create scale. The company chose the new location within Turnpike Business Park on the strength of its ease of access, high visibility, and the stewardship of ownership. PODS and Terminix join national company Southern Glazer’s Wine & Spirits, which recently took occupancy of its 28,325 square feet at Turnpike Business Park.

“Having two additional national and internationally-recognized tenants lease space at Turnpike Business Park underscores the quality of the development and its unique offerings that new and existing businesses are seeking,” said Steven McCraney, President and CEO of McCraney Property Company. “We are continuing to strategically build developments that epitomize forward thinking and are instep with […]

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McCraney Property Company Welcomes Southern Glazer’s Wine & Spirits to its New Distribution Center at Turnpike Business Park

Company Expands Footprint by More Than 20,000 SF Taking Occupancy of New Warehouses in
West Palm Beach, FL, Developed by McCraney Property Company
MARCH 2, 2017 – West Palm Beach, FL – McCraney Property Company, the most active independently owned developer of high-finish industrial properties in Florida, today announced Southern Glazer’s Wine & Spirits, a premier beverage distributor for world-class wines and leading spirits brands, has moved into its newly constructed 28,325-square-foot distribution center at Turnpike Business Park. Spanning a total of 353,000 square feet, Turnpike Business Park is an industrial spec project developed by McCraney Property Company and located at 377-563 North Cleary Road in an unincorporated area of West Palm Beach, Fla.

Southern Glazer’s Wine & Spirits previously occupied just 8,232 square feet in Palm Springs but required a larger footprint to continue to create scale. The company will use its new location as part of its “hub and spoke” approach to logistics and distribution efficiencies to complement its more than one-million-square-foot hub in Central Florida.

“Southern Glazer’s Wine & Spirits’ move into Turnpike Business Park emphasizes the ongoing demand for high-quality warehouse throughout Palm Beach County. With the unsurpassed location and visibility the park offers, we are confident this will be the sought-after property for new and existing businesses in this area seeking industrial space,” said Steven McCraney, President and CEO of McCraney Property Company. “We are honored to have a distinguished company with a legacy of business quality and community service take occupancy within this business park.”

Spanning 35 acres, Turnpike Business Park’s five tilt warehouses provide businesses with a mile of exposure on the east side of Florida’s Turnpike, just south of Belvedere Road, and range in size from 29,000 square feet to 132,000 square […]

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