NOVEMBER 30, 2016 – TAMPA, FL – McCraney Property Company, a leading developer of modern high-finish industrial distribution properties, and Northwestern Mutual are partnering to develop County Line Logistics Center at Fancy Farms, 1.3 million square feet of spec class A industrial space on 70-acres at the intersection of County Line Road and Rice Road in Plant City, Fla.
In the immediate vicinity of Amazon, Publix Super Markets, O’Reilly Auto Parts, and Southern Wine & Spirits’ distribution facilities, County Line Logistics Center will be one of the few sites that can support a single million square foot user. The Park’s design will target high-quality end-users requiring freight forwarding and fulfillment needs while also seeking a business location that evokes a sense of place.
The Tampa industrial market has experienced 13th consecutive quarters of positive absorption, and Plant City’s roughly 10 million square feet of existing product is at 4.6 percent vacancy with no new construction activity as of third quarter 2016 market reports. “Our interest is to always to deliver to the market a product that meets market demand, and in the majority of cases, we have done that through speculative development,” said Steven McCraney, President and CEO of McCraney Property Company. “Plant City is a relatively untapped market along the I-4 corridor in which national credit tenants are actively seeking out space to enter or expand to secure distribution space to increase speed of the ‘last mile’ delivery to an ever growing e-commerce driven consumer.”
The Park will incorporate McCraney Property Company’s signature clean facades and high finish benchmark setting product, which includes clear heights up to 36 feet, throughout the following buildings:
- Building 100 – 124,800 square feet
- Building 200 – 168,480 square feet
- Building 300 – 1,048,000 square feet
Northwestern Mutual Real Estate is one of the largest real estate investors in the nation, with investments in commercial mortgages and equity investments across all major property types, including apartments, office, retail and industrial. The $41+ billion real estate investment portfolio is composed of approximately 80 percent fixed income and 20 percent equity investments. Northwestern Mutual Real Estate is a financing source that provides experienced and knowledgeable people, quick and decisive action and flexible, creative solutions.
About McCraney Property Company
McCraney Property Company is a leading regional real estate investment firm focused on acquisition, development and management of industrial properties in Florida’s major markets. Headquartered in West Palm Beach, Fla., McCraney Property Company has completed or is under construction on nearly 5,000,000 square feet of speculative industrial space. Its commitment to its clients and proven execution capabilities has positioned the firm to thrive in today’s recovering industrial market. For more information, please visit http://www.mccraneyproperty.com.
About Northwestern Mutual
Northwestern Mutual has been helping families and businesses achieve financial security for nearly 160 years. Our financial representatives build relationships with clients through a distinctive planning approach that integrates risk management with wealth accumulation, preservation and distribution. With $238.5 billion in assets, $27.9 billion in revenues and more than $1.6 trillion worth of life insurance protection in force, Northwestern Mutual delivers financial security to more than 4.3 million people who rely on us for insurance and investment solutions, including life, disability income and long-term care insurance; annuities; trust services; mutual funds; and investment advisory products and services. Northwestern Mutual is recognized by FORTUNE magazine as one of the “World’s Most Admired” life insurance companies in 2016.
Northwestern Mutual is the marketing name for The Northwestern Mutual Life Insurance Company, Milwaukee, WI, and its subsidiaries. Northwestern Mutual and its subsidiaries offer a comprehensive approach to financial security solutions including: life insurance, long-term care insurance, disability income insurance, annuities, life insurance with long-term care benefits, investment products, and advisory products and services. Subsidiaries include Northwestern Mutual Investment Services, LLC (NMIS), broker-dealer, registered investment adviser, member FINRA and SIPC; the Northwestern Mutual Wealth Management Company (NMWMC), federal savings bank; and Northwestern Long Term Care Insurance Company (NLTC).