MIAMI—As Florida's economy recovers, theindustrial market is improving even faster, drivenby foreign trade and investor confidence. Vacancy rates aredropping, tenants are arriving, and developers are delivering specand pre-lease space at a rate not seen in a number of years.
So says Steven McCraney, CEO ofMcCraney Property. McCraney has his finger on thepulse of the market. His company is developing a new warehouse/distribution projectin Palm Beach County. The speculative building is the first newconstruction at the park in five years.
Bent Oak Industrial, LLC, a wholly owned entityof McCraney, recently purchased Lots 3, 4 and 5 at the BentOak development in Orlando for $7.41 million. McCraney will buildspeculative class A distribution warehousing on the 38.7-acreindustrial property.
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