WASHINGTON, D.C. – June 16, 2015 – (RealEstateRama) — McCraney Property Company, a leading developer of modern industrial properties, announced that DEX Imaging signed a new 42,839 square foot lease at John Young Business Park in Orlando, Fla., for its new location and expansion within the Central Florida market. DEX Imaging, a Tampa-headquartered company that sells and services office equipment and data management solutions for businesses throughout the Southeast, will take space within Building 2, bringing the McCraney Property Company developed and owned Business Park to 95.4 percent occupied.
“We are pleased to have been in a position to accommodate the growth of DEX Imaging within our industrial park,” said Steven McCraney, President and CEO of McCraney Property Company. “Delivered to the market less than eight months ago and now at more than 95 percent occupied, the rapid absorption with John Young Business Park represents Central Florida’s strengthening market and aggressively high demand for this unique type of class A product.”
McCraney Property Company’s 25-acre John Young Business Park consists of a three-building portfolio located at 7153 & 7215 S. John Young Parkway in Orlando, Fla., totaling 393,000 square feet of modern industrial buildings. DEX Imaging is expected to be fully settled into its new location within 100,598 square foot Building 2 in the fall 2015.
The majority of McCraney Property Company industrial parks and buildings in Orlando are at or nearing full occupancy while the overall vacancy rate for the Orlando industrial market is just above 9 percent. Recent market reports indicate that demand is projected to outpace supply, a trend that will continue throughout 2015 and into 2016 illustrating the need for continued industrial development. McCraney Property Company currently has two facilities under construction on 39-acre Bent Oak Industrial Park totaling 702,180 square feet in Orlando.
About McCraney Property Company
Headquartered in West Palm Beach, Fla., McCraney Property Company has developed, owned, and managed more than 2,500,000 square feet of commercial/industrial/distribution, office-flex and office properties throughout Florida. Currently, the company has approximately 244,000 square feet under negotiations in the Central Florida market alone.