McCraney Building More Spec Industrial

PALM BEACH—McCraney Property Company continues its speculative development roll in South Florida. The firm is developing the new 33.8-acre Turnpike Business Park project.

The industrial project offers 400,000 square feet of dock-high development with one mile of direct Florida Turnpike frontage. All told, the park calls for a five-building, warehouse-distribution project.

The Palm Beach County Building and Zoning Department is reviewing he plans. Final approvals are expected prior to the end of 2014. Construction is expected to begin in January of 2015.

The class A spec industrial buildings will have clear ceiling heights of 24 to 30 feet, featuring dock-high loading with 175-foot truck turning radius. The final site plan will total nearly 600,000 square feet collectively on the north and south parcels.

“The Palm Beach County market continues to strengthen,” Steven McCraney, president and CEO of McCraney, tells GlobeSt.com. “It's great to be busy. The demand for well-located, modern warehouse-distribution product is the best it has been in a decade.”  

Christopher Thomson, senior director of industrial brokerage at Cushman & Wakefield, is the exclusive leasing agent for the project. Peter Corrales of Corrales Group Architects has been selected as the architect.

McCraney has two other industrial parks under construction and one was recently completed. In West Palm Beach, the firm recently tilted walls on its 100,000-square-foot Vista Distribution Center project, located within Vista Business Park off Okeechobee Boulevard and the Turnpike. It offers two class A, dock-high warehouse-distribution buildings sitting on 7.2 acres that should be complete by the fourth quarter.

McCraney and its joint venture partner, Clarion Partners, have been active in Orlando. They recently completed construction on their 393,000-square-foot, 25-acre John Young Business Park with lead tenants including Dade Paper Company with 150,000 square feet and FedEx Ground with 85,000 square feet.

MPC will soon tilt its 700,000-square-foot spec Bent Oak Industrial Park, with a 500,000-square-foot cross-dock 32-foot clear building and a 200,000-square-foot front-loaded warehouse distribution facility. The fully built-out site will eventually expand the business park to more than two million square feet of class A space.