November 8, 2018 – Davenport, FL – McCraney Property Company, a leading private real estate investment firm focused on the acquisition, development, and management of industrial properties in the Southeast region, signed a new, full-building lease with UPS (NYSE: UPS) at 27 Logistics Park, a 207,676-square-foot spec class A industrial warehouse located on a 12.67-acre parcel fronting U.S. Highway 27 at the intersection of Deen Still Road in Davenport, Fla.
UPS, a global leader in logistics offering a broad range of solutions including transporting packages and freight; facilitating international trade, and deploying advanced technology to more efficiently manage the world of business, will be the sole tenant at 27 Logistics Park. The 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 it also joint venture partnered with Northwestern Mutual. This brings the partnership’s total investment in the local market to more than 810,000 square feet.
According to market reports, Orlando’s industrial market finished the third quarter of 2018 with net absorption of 1.9 million square feet, continuing the positive run that has been exhibited over the last several quarters. This brings the year-to-date net absorption to 3.6 million square feet, which is an 84.4 percent increase in the year-over-year net absorption.
“The timing for this deal was paramount,” said Steven McCraney, President & CEO of McCraney Property Company. “Construction drew to a close at 27 Logistics Park as UPS’ need for expanding its footprint in Central Florida was immediate. This is a perfect match for what we had envisioned for the property.”
CBRE Orlando’s David Murphy and Monica Wonus leased 27 Logistics Park and Park 27 on behalf of McCraney Property Company.
For more than 28 years, McCraney Property Company has been recognized as a responsive customer service-oriented team passionately focused on executing best-in-class industrial product. The company’s newest project brings the firm’s active speculative industrial projects under some form of development in Florida, Georgia, South Carolina, and North Carolina to more than 8 million square feet.
About McCraney Property Company
McCraney Property Company, recently named as one of National Real Estate Investor’s 2017 Top 50 National Industrial Owners & Developers, is a leading regional real estate investment firm focused on the acquisition, development, and management of industrial properties in the major markets of Florida, Georgia, and the Carolinas. Headquartered in West Palm Beach, Fla. and Charlotte, N.C., McCraney Property Company has more than 8 million square feet of active speculative industrial projects under some form of development in Florida, Georgia, South Carolina, and North Carolina. 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 or to view a video overview of the company, please visit https://vimeo.com/259369871.