ORLANDO—Construction is underway at Bent Oak Industrial Park Phase II, a 1 million square foot class A industrial spec development project located on 66 acres at the intersection of Taft Vineland Road and the Florida Turnpike in the Southeast Orange County submarket of Orlando. Marcobay Construction is the general contractor.
Construction on Phase II, a joint venture between McCraney Property Company and Clarion Partners, is underway less than a year after 703,920 square feet was delivered at Bent Oak Industrial Park Phase I. That industrial park was 65% leased by end of 2015.
“During the most recent cycle, much of our traction can be attributed to our willingness to go beyond the current market demand by building to the requirements of the future,” Steven McCraney, president and CEO of McCraney, tells GlobeSt.com. “Marcobay's alignment with this thinking is demonstrated through its track record of significant projects in Central Florida.”
Within months of announcing the second phase at Bent Oak, Freeman Expositions signed a lease to occupy nearly half of the project in a 451,823 square foot transaction. Bent Oak Industrial Park Phase II is one of the area's largest speculative industrial build-to-suit developments.
Marcobay has overseen industrial construction for e-commerce and distribution providers including Amazon and Publix. McCraney says the firm will be instrumental in delivering a quality, on-time delivery of the industrial park.
McCraney has completed or is under construction on nearly 4 million square feet of speculative industrial space. In the past year, McCraney delivered 703,920 square feet and broke ground on 602,931 square feet in Central Florida. “We experienced much of the 2.5 million square feet of positive absorption in Orlando's industrial market last year at our existing parks,” he says, “and are confident that our benchmark setting product, which includes increasing the standard clear height up to 36 feet, will again resonate with end-users.”
Will Central Florida see much more industrial spec? Check out my recent column for some insights.
ORLANDO—Construction is underway at Bent Oak Industrial Park Phase II, a 1 million square foot class A industrial spec development project located on 66 acres at the intersection of Taft Vineland Road and the Florida Turnpike in the Southeast Orange County submarket of Orlando. Marcobay Construction is the general contractor.
Construction on Phase II, a joint venture between McCraney Property Company and Clarion Partners, is underway less than a year after 703,920 square feet was delivered at Bent Oak Industrial Park Phase I. That industrial park was 65% leased by end of 2015.
“During the most recent cycle, much of our traction can be attributed to our willingness to go beyond the current market demand by building to the requirements of the future,” Steven McCraney, president and CEO of McCraney, tells GlobeSt.com. “Marcobay's alignment with this thinking is demonstrated through its track record of significant projects in Central Florida.”
Within months of announcing the second phase at Bent Oak, Freeman Expositions signed a lease to occupy nearly half of the project in a 451,823 square foot transaction. Bent Oak Industrial Park Phase II is one of the area's largest speculative industrial build-to-suit developments.
Marcobay has overseen industrial construction for e-commerce and distribution providers including Amazon and Publix. McCraney says the firm will be instrumental in delivering a quality, on-time delivery of the industrial park.
McCraney has completed or is under construction on nearly 4 million square feet of speculative industrial space. In the past year, McCraney delivered 703,920 square feet and broke ground on 602,931 square feet in Central Florida. “We experienced much of the 2.5 million square feet of positive absorption in Orlando's industrial market last year at our existing parks,” he says, “and are confident that our benchmark setting product, which includes increasing the standard clear height up to 36 feet, will again resonate with end-users.”
Will Central Florida see much more industrial spec? Check out my recent column for some insights.
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