McCraney Property Company bought 44 acres of land in Orlando’s Ocoee submarket, where it plans to build Distribution 429, a 652,696 sq ft industrial property. The project will include three industrial buildings for e-commerce fulfillment. The buildings will range in size from 104,950 sq ft to 402,582 sq ft. Located in Northwest Orange County, Ocoee has one of the lowest industrial vacancy rates in Central Florida. McCraney Property Company has approximately 7 million sq ft of speculative industrial developments under way in Florida, Georgia, South Carolina and North Carolina. Terms of the sale were not disclosed.
“Large residential growth is taking place in the Northwest corridor of Orlando. These rooftops are driving consumption, and the consumption requires warehouse space,” said Steven McCraney, McCraney Property’s president and CEO. “Transportation corridors are a huge advantage in a growing Central Florida market. The access to both Florida’s Turnpike and the I-4 corridor are simplified by utilizing FL-429. The FL-429 creates a huge time-saver for distribution of product.”
