McCraney Launches Fourth Spec Industrial Project In 18 Months

McCraney Property Company announced the development of its new 33.8-acre Turnpike Business Park project, which boasts 400,000 square feet of new industrial dock-high development with one mile of direct Florida Turnpike frontage.
Plans for a five-building warehouse-distribution project are currently being reviewed by the Palm Beach County Building and Zoning Department. Final approvals are expected prior to the end of 2014, and construction is expected to begin in January of 2015. The final site plan once approved, will total nearly 600,000 square feet collectively on the north and south parcels.
The Class A spec industrial buildings will have clear ceiling heights of 24 to 30 feet, featuring dock-high loading with 175-foot truck turning radius.
Christopher Thomson, Senior Director, Industrial Brokerage at Cushman & Wakefield, has been appointed exclusive leasing agent for the project.  Peter Corrales of Corrales Group Architects has been selected as the architect.
 

“The Palm Beach County market continues to strengthen,” said Steven McCraney, SIOR, CCIM, president and CEO of McCraney Property Company. “Corrales Group Architects continues to deliver award-winning designs in our projects. We are pleased to be working with such a fantastic team.”

 
In addition to Turnpike Business Park, MPC has two other industrial parks under construction and one was recently completed.
In West Palm Beach, MPC recently tilted walls on its 100,000-square-foot Vista Distribution Center project, located within Vista Business Park off Okeechobee Boulevard and the Turnpike. It consists of two Class A, dock-high warehouse-distribution buildings sitting on 7.2 acres. The state-of-the-art buildings will have clear heights of 24 feet and depth of up to 130 feet. Completion is expected in Q4 of 2014.
The Orlando market has been hot for McCraney and its joint venture partner, Clarion Partners, LLC. They recently completed construction on their 393,000-square-foot, 25-acre John Young Business Park with lead tenants including Dade Paper Company with 150,000 square feet and FedEx Ground with 85,000 square feet.
MPC will soon tilt its 700,000-square-foot spec Bent Oak Industrial Park, consisting of a 500,000-square-foot cross-dock 32-foot clear building and a 200,000-square-foot front-loaded warehouse distribution facility. The fully built-out site will eventually expand the business park to more than two million square feet of Class A space.
 

“It’s great to be busy,” said McCraney. “The demand for well-located, modern warehouse-distribution product is the best it has been in a decade.”
 

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