A global leader in logistics and transporting packages and freight, UPS will lease the 207,676-square-foot, spec Class A warehouse on 12.67 acres fronting U.S. 27 at Deen Still Road in Davenport.
CBRE Orlando's David Murphy and Monica Wonus leased the property on behalf of McCraney.
Steven McCraney, president and CEO of McCraney Property Co. told GrowthSpotter the "brand new," back-loading building is ideally suited for an e-commerce company like UPS.
"They were looking for a state-of-the-art facility with easy ingress and egress for I-4," McCraney said. "They were looking for a facility with a lot of tractor-trailer storage space on site. It also has plenty of car park space and clear height in the building."
The timing of the building's recent completion was advantageous, McCraney said, because UPS needed to expand its Central Florida footprint immediately.
"This is a perfect match for what we had envisioned for the property," he said in a press release.
The building also came on line while available industrial space in the Orlando market gets absorbed almost as fast as it's constructed. Net industrial space absorption in the third quarter was 1.9 million square feet in the Orlando area, according to market reports. That brings the year-to-date absorption to 3.6 million square feet, an 84.4 percent increase in the year-over-year net.
UPS joins competitor FedEX, which already has a presence on the U.S. 27 corridor at the I-4 interchange.
McCraney has long been a proponent of the Davenport area as a distribution hub, and his company has played a significant role in providing the industrial and warehouse space for companies that need access to major north-south and east-west traffic arteries.
The developer built the adjacent Park 27, which has two Class A industrial buildings totaling 602,9712-square-feet. About 100,000 square feet is still available for lease in the larger development.
"This brings our total to just over 800,000 square feet," McCraney said. "It clearly shows our commitment to that corridor."
McCraney points out that I-4 can connect the Davenport area to the Tampa and Orlando markets, while U.S. 27 can take trucks straight to Miami.
"People forget the value of the Central Florida market and should not discount its ability to distribute e-commerce," he said. "We chose Davenport because the site is so centric. It's right there where (U.S.) 27 and I-4 cut the state east to west and north to south."
McCraney has been actively seeking land and building industrial space in other areas of Central Florida as well. He said his I-4 Commerce Park in Lake Mary, formerly known as SunTech Commerce Park is finished and will have a certificate of occupancy in 30 days. He has one tenant signed so far.
The company has built 300,000 square feet so far at the County Line Logistics Center at County Line Road and Rice Road in Plant City. The second phase of the development will be announced in 30 days, he said
And walls are going up on the first of three warehouses at Distribution 429, located southeast of the Franklin Street-S.R. 429 intersection in Ocoee. When completed, the development will provide 600,000 square feet of space. That property is being brokered by William Bo Bradford of Lee and Associates.