SOURCE: McCraney Property Company

November 05, 2012 10:00 ET

McCraney Property Company and Clarion Partners Have Partnered in a Joint Venture to Develop Three Industrial Buildings at Orlando Central Park

ORLANDO, FL and WEST PALM BEACH, FL--(Marketwire - Nov 5, 2012) -  McCraney Property Company (MPC) and Clarion Partners have entered into a joint venture to develop three industrial buildings (including Dade Paper) on 25.3 acres at Orlando Central Park.

McCraney, an integrated developer and manager of commercial/industrial flex and warehouse distribution properties located throughout Florida, will be responsible for project planning, design, construction and property management.

Clarion Partners is a leading U.S. real estate investment manager with more than $25 billion in assets under management which includes 100,000,000 square feet of industrial projects across North America and more than 3,000,000 square feet of industrial projects in Florida alone. Clarion will be involved in the project's design and construction process.

"We are very excited about the opportunity to grow our Florida industrial holdings and launch a partnership with McCraney Property Company," said Kris Arviso, Vice President at Clarion Partners. In addition to the 150,000 square-foot Dade Paper building, which is under construction, Clarion and McCraney will be constructing two additional industrial buildings on spec with rentable space totaling 225,000 square feet (123,000 and 102,000). Planning has begun on the spec buildings with construction of the first spec building expected to get underway during the first quarter of 2013.

"We're bullish on Orlando, and so is Clarion," said Steven McCraney, founder and president of McCraney Property Company. "You couldn't ask for a better partner."

McCraney Property Company (www.mccraneyproperty.com) develops and manages commercial/industrial, office/flex, office, and warehouse distribution properties located in West Palm Beach, the Treasure Coast and Orlando, Florida. The company has developed corporate holdings exceeding 2,000,000 sq. ft. Services include development of class A business parks, acquisitions, joint venture investments, construction and property management. Led by President and CEO Steven McCraney, the company is very active in the commercial real estate industry and through its philanthropic endeavors in the communities it serves. For more information, call (561) 478-4300.

About Clarion Partners (www.clarionpartners.com):
Clarion Partners has been a leading U.S. real estate investment manager for over 30 years. Headquartered in New York, the firm has offices in major markets throughout the U.S., in São Paulo, Brazil and London, England as well as a presence in Mexico. With more than $25 billion in total assets under management, Clarion Partners offers a broad range of real estate strategies across the risk/return spectrum to its more than 200 domestic and international institutional investors.

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