Despite most of the investment coming from national players, there remains what McCraney calls a strong contingency of local and regional buyers that are seeking smaller industrial portfolios. As he sees it, this commercial real estate cycle's evolution—meaning since the Great Recession—has brought a premium to product types and classes that were previously valued alternatively, securing stronger cap rates for product that wasn't previously afforded or available to non-institutional or large-scale investors.

McCraney has developed 5 million square feet of speculative industrial space, making him most active developer in the niche of industrial real estate development, e-commerce distribution facilities, management, and private acquisition in Florida's major markets. In the past year, McCraney has delivered over 1 million square feet and broke ground on 1.2 million square feet in South and Central Florida.

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.”

McCraney's disposition closed less than a week after the firm secured a $65 million loan to refinance the company's legacy assets. Those include Orlando Central Park and total 1 million rentable square feet of shallow bay industrial throughout Central and South Florida.

Despite most of the investment coming from national players, there remains what McCraney calls a strong contingency of local and regional buyers that are seeking smaller industrial portfolios. As he sees it, this commercial real estate cycle's evolution—meaning since the Great Recession—has brought a premium to product types and classes that were previously valued alternatively, securing stronger cap rates for product that wasn't previously afforded or available to non-institutional or large-scale investors.

McCraney has developed 5 million square feet of speculative industrial space, making him most active developer in the niche of industrial real estate development, e-commerce distribution facilities, management, and private acquisition in Florida's major markets. In the past year, McCraney has delivered over 1 million square feet and broke ground on 1.2 million square feet in South and Central Florida.