ORLANDO—FedEx Ground just signed lease to occupy 60% off McCraney Property Co.'s John Young Business Park Building 3. The industrial building spans 142,638 square feet.
“We're encouraged about the demand for class A industrial in our Central Florida projects,” Steven McCraney, president and CEO of McCraney, tells GlobeSt.com. “FedEx has a great business platform, and we're excited that they chose John Young Business Park.”
The 25-acre John Young Business Park has three modern industrial buildings totaling 393,000 square feet. McCraney and international real estate investment manager Clarion Partners formed a joint venture to develop the project.
Dade Paper, a 150,000-square-foot state-of-the-art distribution center and offices, was the first of the three buildings in John Young Business Park to be completed. Construction has just been completed on its two spec industrial buildings, Buildings 2 and 3, totaling 243,000 square feet.
Jones Lang LaSalle represented FedEx Ground. David Murphy of CBRE was the exclusive leasing agent for John Young Business Park. McCraney currently has approximately 244,000 square feet under negotiations in Central Florida and recently broke ground on a massive industrial project in Orlando called Bent Oak.
Bent Oak is the second-largest industrial project to break ground in Florida this year. It's rising on one of the last remaining Central Florida industrial parcels that front the Florida Turnpike. The 700,000-square-foot, class A warehouse-distribution project will include two industrial buildings.
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