299,030 SF speculative development by McCraney Property Company set to capitalize on booming Pasco County industrial market
News release
04 April 2025
JLL secures $25.83M in construction financing for Class A industrial project in Tampa MSA
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MIAMI, Apr. 4, 2025 – JLL Capital Markets announced today that it has arranged $25.83 million in construction financing for Phase I of Park 52 Logistics North, a 299,030-square-foot, Class A speculative industrial development in San Antonio, Florida, within the Tampa MSA.
JLL worked on behalf of the borrower, McCraney Property Company, to secure the three-year, floating-rate construction loan.
Scheduled for completion in November 2025, Park 52 Logistics North will comprise three rear-load buildings ranging from 80,745 to 130,865 square feet. The buildings will feature 24- to 30-foot clear heights, four drive-in doors each and car parking spaces ranging from 113 to 232 per building. Suite sizes can accommodate tenants from approximately 20,000 SF to 46,000 square feet, aligning with the deepest portion of leasing demand in the Tampa market.
The 78-acre site located in Pasco County offers direct frontage on State Road 52 and is situated less than one minute from the Interstate 75 on-ramp, providing seamless access to downtown Tampa within 30 minutes and Orlando within 90 minutes. Additionally, the development is adjacent to the 965-acre Double Branch master-planned community, which is expected to generate $600 million in economic impact through mixed-use development.
The JLL Capital Markets Debt Advisory team was led by Senior Managing Director Melissa Rose, Senior Director Michael DiCosimo and Associates Justin Ratcliffe and Nicole Barba.
"Park 52 Logistics North exemplifies the continued strength of Tampa's industrial market, particularly in high-growth corridors like Pasco County," said Rose. "The property's exceptional location, coupled with McCraney Property Company's track record of developing institutional-quality assets, generated significant lender interest. This financing allows the sponsor to deliver much-needed Class A industrial product to a submarket experiencing robust tenant demand and rent growth."
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
For more news, videos and research resources, please visit JLL’s newsroom.
About JLL
For over 200 years, JLL (NYSE: JLL), a leading global commercial real estate and investment management company, has helped clients buy, build, occupy, manage and invest in a variety of commercial, industrial, hotel, residential and retail properties. A Fortune 500® company with annual revenue of $23.4 billion and operations in over 80 countries around the world, our more than 112,000 employees bring the power of a global platform combined with local expertise. Driven by our purpose to shape the future of real estate for a better world, we help our clients, people and communities SEE A BRIGHTER WAYSM. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About McCraney Property Company
McCraney Property Company (MPC) is a leading private real estate investment firm focused on the acquisition, development and management of industrial properties in the Southeast. MPC was recently named one of National Real Estate Investor's Top 50 National Industrial Owners and Developers. Founded in 1989, they are one of the most active developers of high-finish industrial real estate in the Southeast with over 25 million SF developed, acquired, under construction, or in the development pipeline.