Developer Secures $45.1 Million Construction Loan For 8-Building Industrial Park In Ocoee

JLL arranged a $45.1 million construction loan for Commerce 429, an eight-building industrial park located on a 40-acre site at 1290 Ocoee Apopka Road in the Orlando suburb of Ocoee.

The borrower, industrial developer McCraney Property Co., plans to develop Commerce 429 in two phases, the first of which will comprise six rear-load buildings with sizes ranging from 27,000 to 131,000 square feet. Phase II will feature two rear-load buildings spanning approximately 76,000 square feet and 95,000 square feet.

Melissa Rose, Michael DiCosimo and Mateo Bolivar of JLL arranged the four-year loan through an undisclosed lender on behalf of McCraney.

Source:  RE Business