McCraney Acquires Land for GA Industrial Park
- Mar 30, 2018
McCraney Property Co. has acquired a 44.3-acre land parcel at the intersection of Georgia State Route 13 and Lanier Island Parkway from Northeast Georgia Health System Inc. The land will be used to develop 985 Lanier Logistics, a speculative industrial park in Buford, Ga. This acquisition brings the company’s active speculative industrial projects under development in Florida, Georgia, South Carolina and North Carolina to around 6.7 million square feet.
The industrial park will total 612,572 square feet and comprise three Class A industrial buildings ranging from 167,000 to 236,000 square feet. Property features will include clean façades and a high-finish benchmark-setting warehouse design that offers 30- to 32-foot clear height, 38 to 42 dock-high doors and 160 tractor-trailer stalls.
“Record absorption, historically low vacancy rates and rising sales activity in the Atlanta industrial market is creating unprecedented industrial demand,” Steven McCraney, president & CEO of McCraney Property Co., said in prepared remarks. “For several years, I’ve had my eye looking due north to untapped markets in Atlanta, Savannah and Charlotte scouting new areas for ‘hubs’ and ‘spokes’ throughout the Southeast. Our recent acquisition history in the Southeast is a reflection of that due diligence, and now we can actively develop ahead of–and to the needs of–today’s market, proceeding as a leading contributor of speculative industrial product to a growing sector.”
Partner Bilijack Bell of Wilson, Hull & Neal, negotiated the deal on behalf of McCraney Property Co. Founder & President Frank Simpson of The Simpson Co. of Georgia Inc. represented the seller.
Image courtesy of McCraney Property Co.