McCraney Will get $26M for Tampa Industrial Mission

McCraney Property Co. has secured $25.8 million in development funds for the event of Park 52 Logistics North’s Part I, set to incorporate 299,030 sq. toes in San Antonio, Fla., inside the Tampa metro space.

JLL negotiated on behalf of the borrower and secured the three-year, floating-rate mortgage. CBRE is in control of leasing efforts.

Park 52 Logistics North shall be at 11600 Commerce Park Manner. The primary section will embody three rear-load amenities— dubbed Buildings 100, 200 and 300—anticipated to be delivered this November.

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The location gives direct frontage to Florida State Highway 52 and is near Interstate 75. Tampa is 30 miles away and Tampa Worldwide Airport is 37 miles away.

McCraney picked up the 78-acre web site in 2023 for $7.5 million from a personal vendor, Pasco County public data present. Ordner Development Co. is the overall contractor, in line with the identical supply.

The properties will embody 24- to 30-foot clear heights, 4 drive-in doorways every and automobile parking spots from 113 to 232 per facility. Buildings within the first case are set to vary from 80,745 to 130,865 sq. toes, with suites from 20,000 to 46,000 sq. toes.

Park 52 Logistics North is designed to incorporate 5 buildings and complete 487,296 sq. toes. Part II plans name for a 101,956-square-foot Constructing 400 and the 87,637-square-foot Constructing 500. CBRE Senior Vice President Kris Courier and First Vice President Riam Smith are the unique brokers in control of the mission’s first section.

Senior Managing Director Melissa Rose, Senior Director Michael DiCosimo and Associates Justin Ratcliffe and Nicole Barba with the JLL capital markets debt advisory workforce labored on behalf of McCraney Property Co.

Tampa’s gradual development tempo

Tampa’s industrial pipeline included 1.8 million sq. toes underneath improvement as of February, a latest CommercialEdge report reveals. The metro had one of many smallest pipelines throughout main Southern markets.

Tampa’s under-construction stock represented 0.7 % of the metro’s complete inventory—nicely under the U.S. common of 1.7 %. When including tasks within the planning levels, the determine reached 3.8 %, on par with Atlanta and the nationwide determine.

McCraney’s mission just isn’t the one one to quickly increase Tampa’s pipeline, with the 202,000-square-foot Apex Logistics at Lakeland additionally touchdown financing final month. That improvement is owned by Altman Logistics Properties and FRP Improvement Corp.