McCraney Gets $26M for Tampa Industrial Project
The development's first phase encompasses 300,000 square feet.
McCraney Property Co. has secured $25.8 million in construction funds for the development of Park 52 Logistics North’s Phase I, set to include 299,030 square feet in San Antonio, Fla., within the Tampa metro area.
JLL negotiated on behalf of the borrower and secured the three-year, floating-rate loan. CBRE is in charge of leasing efforts.
Park 52 Logistics North will be at 11600 Trade Park Way. The first phase will include three rear-load facilities— dubbed Buildings 100, 200 and 300—expected to be delivered this November.
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The site provides direct frontage to Florida State Road 52 and is close to Interstate 75. Tampa is 30 miles away and Tampa International Airport is 37 miles away.
McCraney picked up the 78-acre site in 2023 for $7.5 million from a private seller, Pasco County public records show. Ordner Construction Co. is the general contractor, according to the same source.
The properties will include 24- to 30-foot clear heights, four drive-in doors each and vehicle parking spots from 113 to 232 per facility. Buildings in the first case are set to range from 80,745 to 130,865 square feet, with suites from 20,000 to 46,000 square feet.
Park 52 Logistics North is designed to include five buildings and total 487,296 square feet. Phase II plans call for a 101,956-square-foot Building 400 and the 87,637-square-foot Building 500. CBRE Senior Vice President Kris Courier and First Vice President Riam Smith are the exclusive brokers in charge of the project’s first phase.
Senior Managing Director Melissa Rose, Senior Director Michael DiCosimo and Associates Justin Ratcliffe and Nicole Barba with the JLL capital markets debt advisory team worked on behalf of McCraney Property Co.
Tampa’s slow construction pace
Tampa’s industrial pipeline included 1.8 million square feet under development as of February, a recent CommercialEdge report shows. The metro had one of the smallest pipelines across major Southern markets.
Tampa’s under-construction inventory represented 0.7 percent of the metro’s total stock—well below the U.S. average of 1.7 percent. When adding projects in the planning stages, the figure reached 3.8 percent, on par with Atlanta and the national figure.
McCraney’s project is not the only one to soon boost Tampa’s pipeline, with the 202,000-square-foot Apex Logistics at Lakeland also landing financing last month. That development is owned by Altman Logistics Properties and FRP Development Corp.
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