ORLANDO—McCraney Property Company is partnering with Northwestern Mutual to develop 603,000 square feet of industrial building space in West Orlando. The companies are building at Park27, which is located at the northwest quadrant of Interstate 4 and US Highway 27.

McCraney plans to develop two industrial buildings on its 33-acre site. The first industrial building will span 189,000 square feet. The second will be 414,000 square feet, and be the only multi-tenant spec industrial space available in the immediate area that can accommodate a 300,000-plus square foot user with trailer storage.

"The Central Florida industrial market is not unlike its counterpart in South Florida, as it is not only a crucial hub for the Americas but for global commerce,” Steven McCraney, president and CEO of McCraney, tells GlobeSt.com. “It is vital for enterprise to match the growing demand for efficiency and immediacy from clients and consumers through large scale operations or hub-and-spoke presence in key geographic locations.”

Park27 is located next to the recently announced Walmart e-commerce distribution center that includes two buildings totaling over 2 million square feet as well as a new 310,000 square foot FedEx Ground Shipping Services distribution center. The development will stand in good company as Park27 already serves as a distribution location for Amazon, Best Buy, Ford Motor Company and hhgregg.

"On the heels of the Orlando industrial market experiencing an explosive 2 million square feet of absorption to date this year, currently there is no other sector within commercial real estate more fluid and exciting than the industrial market today,” says McCraney. "Industrial is morphing its traditional makeup with retail and technology, and Central Florida is at the perfect crossroads to capitalize on e-commerce momentum."

With Central Florida recently attracting the attention of national brands looking to streamline ecommerce in the state, beyond the existing landscape of tenants, CBRE data predicts that ecommerce operations will occupy an additional 3.4 million square feet of industrial space in Central Florida over the next three years. John Jacobs, director of production for Northwestern, says, “Park27 is a first-class development that represents an exciting opportunity for us to have a growing presence in Central Florida.”