Polk County: McCraney Property Co. buys half of Park 27 Distribution Center

BUYER: MPC Park 27 Industrial LLC (manager: Steven McCraney), West Palm Beach
SELLER: Duke-Florida Central Park North LLC
PROPERTY: land adjacent to 210 Deen Still Road, Davenport
PRICE: $5.26 million
PREVIOUS PRICE: $5.46 million, October 2001 (includes additional land)

PLANS, DESCRIPTION:
McCraney Property Co. of West Palm Beach purchased a 32.76-acre portion of Park 27 Distribution Center for $5.26 million.

The price equated to $160,562 per acre.
Duke Realty Corp. developed two buildings on the other half of the industrial park north of Deen Still Road and west of U.S. 27. Building one has 275,000 square feet of space and is
leased to Ford Motor Co. The second building has 396,740 square feet and is anchored by H.h. greg.

The remainder of the industrial park was proposed by Duke Realty as two industrial buildings: a 403,820-square-foot building near building two and a 133,900-square-foot building.
McCraney Property Co. had not replied to a request for comment as of deadline.

That portion of Davenport has become especially attractive to distribution users primarily because of its easy access to both Tampa and Orlando. FedEx Corp. is developing a new 300,000-square-foot distribution to the south of Park 27 near Interstate 4. The new distribution facility is scheduled to open in May 2016.

The purchase entity, MPC Park 27 Industrial LLC, mortgaged the property to BankUnited for $10 million.