ORLANDO—After inking a $65 million refi earlier this month, McCraney Property Company has sold six small-bay industrial buildings spanning 185,768 square feet at Orlando Central Park in Orlando. The sale price: $9.925 million.
The dock high and grade level industrial buildings are located at 2003 Viscount Row and 1900, 2150, and 2075 Premier Row within the park. Mike Davis, executive director of Cushman & Wakefield of Florida, represented McCraney in this transaction.
“As we continue to further strengthen our development footprint within the larger, big-box e-commerce space, we are strategically selling our existing smaller assets, meeting a great demand for shallow bay industrial product among local and regional buyers,” McCraney tells GlobeSt.com. “In many major US markets such as Orlando, significant shallow bay space limitations resulted in the highest year-over-year rent growth year-end 2015 of any property type at 6.5%, allowing available core sites to be priced at a premium due to the competitive interest of investors.”
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