MIAMI—The retail revolution is affecting a lot more than the way consumers shop for products—it's also changing the way industrial developers build new products.
“What we are driving is an e-commerce platform,” said Steven McCraney, CEO and president of McCraney Property Co. “I am a true believer that warehouse is the new retail.”
According to a recent article by GlobeSt.com sister publication, ALM's Daily Business Review,
Florida has attracted a number of large e-commerce companies in recent years. The state's large and growing population as well as the demand for same-day delivery are fueling the industry's expansion.
In response, McCraney Property is building over 1 million square feet of spec warehouse space in South and Central Florida. The new entries are more expansive with higher stacking and larger trucking capabilities meant for Amazon-like giants entering the Florida market.
West Palm Beach-based McCraney is strategically selling older assets to shrink its footprint in the small-bay industrial asset arena, the article says. It sold six small-bay Orlando industrial buildings spanning 185,768 square feet for $9.9 million earlier this month.
McCraney said another deal involving existing South Florida properties will close in the next 45 days.
He noted the company is balancing its portfolio rather than “selling out.” Smaller buildings servicing local users will still be a part of the company's post-recession product, while the larger developments will cater to regional and national organizations.
To hear more about future plans, click here to read the full article.
MIAMI—The retail revolution is affecting a lot more than the way consumers shop for products—it's also changing the way industrial developers build new products.
“What we are driving is an e-commerce platform,” said Steven McCraney, CEO and president of McCraney Property Co. “I am a true believer that warehouse is the new retail.”
According to a recent article by GlobeSt.com sister publication, ALM's Daily Business Review,
Florida has attracted a number of large e-commerce companies in recent years. The state's large and growing population as well as the demand for same-day delivery are fueling the industry's expansion.
In response, McCraney Property is building over 1 million square feet of spec warehouse space in South and Central Florida. The new entries are more expansive with higher stacking and larger trucking capabilities meant for Amazon-like giants entering the Florida market.
West Palm Beach-based McCraney is strategically selling older assets to shrink its footprint in the small-bay industrial asset arena, the article says. It sold six small-bay Orlando industrial buildings spanning 185,768 square feet for $9.9 million earlier this month.
McCraney said another deal involving existing South Florida properties will close in the next 45 days.
He noted the company is balancing its portfolio rather than “selling out.” Smaller buildings servicing local users will still be a part of the company's post-recession product, while the larger developments will cater to regional and national organizations.
To hear more about future plans, click here to read the full article.
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Natalie Dolce
Natalie Dolce, editor-in-chief of GlobeSt.com and GlobeSt. Real Estate Forum, is responsible for working with editorial staff, freelancers and senior management to help plan the overarching vision that encompasses GlobeSt.com, including short-term and long-term goals for the website, how content integrates through the company’s other product lines and the overall quality of content. Previously she served as national executive editor and editor of the West Coast region for GlobeSt.com and Real Estate Forum, and was responsible for coverage of news and information pertaining to that vital real estate region. Prior to moving out to the Southern California office, she was Northeast bureau chief, covering New York City for GlobeSt.com. Her background includes a stint at InStyle Magazine, and as managing editor with New York Press, an alternative weekly New York City paper. In her career, she has also covered a variety of beats for M magazine, Arthur Frommer's Budget Travel, FashionLedge.com, and Co-Ed magazine. Dolce has also freelanced for a number of publications, including MSNBC.com and Museums New York magazine.
