Orlando – September 15, 2015 – McCraney Property Company, a leading developer of modern high-finish industrial properties, secured a new lease for 67,136 at Bent Oak Industrial Park, a two-building class A industrial park spanning 703,920 square feet of rentable space over 39-acres at 1701 and 1802 Boice Pond Road in Orlando, Fla.
Within the past three months more than 166,350 square feet of transactions have been completed at Bent Oak to two tenants, bringing the park to 51 percent occupancy. The newest lease is with Blue Line Food Service Distribution, one of the nation’s major foodservice logistics companies which serves as the main logistic provider for Little Caesars Pizza. Blue Line is relocating within Orlando to Bent Oak, located within Orlando’s highly desirable Beachline Expressway-Florida Turnpike interchange, as part of a larger flight to quality trend.
“This lease is representative of a growing requirement of businesses to have “hub and spoke” approaches to logistics strategies to complement larger facilities and ensure distribution efficiencies,” said Steven McCraney, President and CEO of McCraney Property Company. “Our central location and immediate access to major thoroughfares allows e-commerce companies, franchises and multi-location businesses in close proximity to Central Florida to be serviced in-line with the markets’ growing demand.”
Offering unique product and an atypical approach of developing spec product in the Central Florida market, McCraney Property Company was able to accommodate Blue Line’s request for housing its $1.7 million cooler in the tenant’s space. To meet demand for its product, McCraney Property Company announced plans in the third quarter of 2015 for a second phase of Bent Oak through a JV partnership with Clarion Partners. The proposed development will span 1,125,330-square-feet on an adjacent 66 acres; the largest remaining parcel of land at the intersection of Taft Vineland Road and the Florida Turnpike in Orange County.
Matt Sullivan, Managing Director and Principal with Cite Partners, represented McCraney Property Company during the latest transaction at the property.