Just months after completing construction on 600,000 square feet of Class A spec industrial space at Park 27, McCraney Property Co. (MPC) has filed preliminary plans to build its fifth warehouse building in the Davenport industrial park.
MPC submitted a development plan with Southwest Florida Water Management District for a new 211,771-square-foot, 60-bay warehouse to be built on 11-plus acres at the corner of U.S. 27 and Deen Still Road, just north of the Interstate 4 interchange and the massive Walmart distribution and e-commerce center.
Park 27 currently sits on 33 acres at the northwest quadrant of the intersection. Current tenants include hhgregg, Ford and Mattress Giant.
And today, MPC announced it had secured a 305,967-square-foot new lease for Communications Test Design, Inc. (CTDI) for a majority of the space in one of the two buildings completed last December.
"With 3.3 million square feet of absorption in Polk County alone in 2016, this lease validates that we are and will continue to see large users increasingly seeking out Central Florida as a hub for state-wide distribution in the third most populous state,” CEO Steven McCraney said in a press release Friday.
McCraney also confirmed to GrowthSpotter that MPC closed Friday on the expansion site previously owned by Albertson International Inc. and CentreCorp, who also own wide swaths of land across U.S. 27 in the planned "Four Corners Town Center."
"This is a reflection of the positive momentum at Park27 and the location’s superior access to US Highway 27 and Interstate 4," McCraney added.
The plans coincide with MPC's latest expansion in Lake Mary’s SunTech Commerce Park. The developer filed plans earlier this month for a new 45,509-square-foot building, which will complete Phase 3 of the commerce park.
Last July, McCraney made another I-4 corridor acquisition, purchasing 70 acres at the intersection of County Line Road and Rice Road in Plant City. This acquisition paved the way for the County Line Logistics Center, which the company began construction on in February. The center will be a Class A industrial spec property totaling more than 1.32 million square feet.
McCraney’s most recent Orlando-area development was Bent Oak Industrial Park, at the intersection of Taft Vineland Road and the Florida Turnpike in Orange County.
Bent Oak has 289,112 square feet available for lease in one building, and 54,491 square feet in another, according to the company's website. Both buildings were completed in mid-2015.