PALM BEACH, FL—McCraney Property Co. is developing a new warehouse/distribution project in Palm Beach County. The speculative building is the first new construction at the park in five years.

Located on 7.2 acres in Vista Business Park, the new building is set to rise off Okeechobee Boulevard and Jog Road in West Palm Beach. McCraney is betting the speculative industrial project will fill the need for distribution space in the rapidly growing West Palm Turnpike corridor.

"There's not a single square foot of Class A space left in northern Palm Beach County," says Steven McCraney, president and CEO of McCraney. "Vista's great location enables our tenants to service customers from Broward County to the Treasure Coast. The project is strategically placed with excellent ingress and egress to and from the Florida Turnpike as well as Interstate 95."

Designed by Jose Jaramillo of JJ Architectural Group, the new project will offer two class A dock-high warehouse/distribution buildings, totaling about 100,000 square feet, featuring spaces from 5,000 to 50,000 square feet. The state-of-the-art buildings will have clear heights of 24 feet and depth of up to 130 feet.

Site plans have been submitted to the county for approval with the groundbreaking expected late in the first quarter of 2014. City National Bank provided the financing.

Michael Falk of Michael Falk & Co. is the exclusive leasing agent for Vista Business Park and will be handling the leasing for this project. "The time is now," says Falk.  "McCraney has always been ahead of market with his vision and strong financing partnerships."

Vista Center is a 500-acre, class A master-planned business park. Major tenants include The Florida Lottery, Trane Air Conditioning, and ADT. FEMA designated Vista Center as a Critical Concern and the project is among the first to have power restored in the event of an emergency.