ORLANDO – July 22, 2015 – McCraney Property Company, a leading developer of modern high-finish industrial properties, secured a new-to-market tenant to occupy the remaining 19,239 square feet available at John Young Parkway, a three-building industrial park spanning 393,386 square feet of rentable space over 25.32 acres at 7153 and 7215 S. John Young Parkway in Orlando. The new lease with Uline, the leading distributor of shipping, industrial and packaging materials to businesses throughout North America, marks the national company’s entrance into Central Florida.
Less than six months after McCraney Property Company and JV partner Clarion Partners completed construction at John Young Park, Uline joins FedEx as co-tenant of the 142,638 square foot Building 3.
“The importance of industrial product is altering due to the transforming landscape of commerce and the increasing number of companies seeking modern spaces in line with their business models. At the center of it all in Florida is the Interstate-4 corridor,” said Steven McCraney, President and CEO of McCraney Property Company. “The addition of Uline to the Central Florida market underscores Central Florida’s attractiveness to national brands looking to streamline ecommerce in the state.”
Bucking the trend of more than 50,000 square feet of negative absorption in 2Q 2015 in Southwest Orlando, according to recent market reports, John Young Parkway is boasting no vacancy in a submarket averaging 9 points. “As we close a chapter in the leasing of John Young Parkway, we focus our attention on the development of the second phase of Bent Oak, an industrial park in near proximity within Orlando’s Southeast Orange market,” continued McCraney. “As vacancy continues to improve year-over-year in Central Florida’s industrial market, we are poised to meet the growing demand of the retailization of industrial through product, location, and commitment to service.”
Strategically located for statewide distribution, John Young Parkway is situated in Orlando Central Park with John Young Parkway direct frontage, 10 minutes from Interstate-4, 14 minutes from Florida’s turnpike and 16 minutes to Beachline Expressway. The newly constructed property features 30′ Clear Height, 51 Loading Doors, 52′ to 53′ 6″ Column Width, and 140′ Truck Court Depth.
David Murphy, Senior Vice President with CBRE, represented McCraney Property Company during the latest transaction at the property. David Desper, Senior Vice President with CBRE, represented the tenant.