{"id":1004562171,"date":"2021-12-29T03:20:23","date_gmt":"2021-12-29T11:20:23","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004562171"},"modified":"2022-12-08T17:35:12","modified_gmt":"2022-12-09T01:35:12","slug":"orlando-industrial-park-lands-120m-refi","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/orlando-industrial-park-lands-120m-refi\/","title":{"rendered":"Orlando Industrial Park Lands $120M Refi"},"content":{"rendered":"
\"Infinity<\/a>

Infinity Park. Image courtesy of JLL<\/p><\/div>\n

McCraney Property Co. and Tavistock Development Co. have refinanced Infinity Park, a newly constructed, 1.3 million-square-foot nine-building, Class A logistics park in Orlando, Fla., with a $120 million loan.<\/p>\n

JLL Capital Markets secured the 10-year, fixed-rate loan with Lincoln Financial Group on behalf of the borrowers. The JLL Capital Markets Debt Placement team was led by Managing Director Melissa Rose, Director Maxx Carney, Associate Reid Carleton and Analyst Maddy McMillen.<\/p>\n

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READ ALSO<\/strong>: Top 5 Florida Markets for Industrial Development<\/a><\/p>\n

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Rose said in a prepared statement the sponsorship, location and tenant mix of the asset resulted in a highly competitive process with a wide array of capital sources eager to provide financing.<\/p>\n

Infinity Park was constructed in phases between 2019 and 2021 and is 92 percent leased to 17 premium credit tenants including Pepsi. The properties are located at 2500, 2505, 2559, 2583, 2598, 2612, 2613, 2619 and 2622 Consulate Drive.<\/p>\n

Tavistock partnered with McCraney<\/a> in September 2018 to expand its Infinity Park project, a mixed-use business park in Orlando. The partners worked together to develop the logistics properties in addition the property\u2019s office, retail and hospitality offerings. Tavistock officials noted at the time that market demand for a variety of uses at Infinity Park made the partnership and addition of logistics assets a natural progression for the park.<\/p>\n

Infinity Park is situated in an area with multi-expressway access, with the Beachline Expressway (State Route 528) intersecting with the Florida Turnpike and John Young Parkway. Due to its location, tenants can reach more than 20 million residents\u2014or 95 percent of the Florida population\u2014within a four-hour drive and nearly 3.7 million customers within a one-hour drive. The park also provides convenient access to top employers including Lockheed Martin, Universal Studios, Darden Restaurants and Starwood. It is 3 miles from the Orange County Convention Center and Orlando theme parks, 8 miles from Orlando International Airport and 10 miles from downtown Orlando.<\/p>\n

Market pulse<\/strong><\/h2>\n

Orlando is one of the fastest-growing metro areas in the country. The population is booming and anticipated to outpace state and national averages over the next five years.<\/p>\n

JLL Research\u2019s third-quarter report for the Orlando industrial market noted new deliveries can\u2019t keep up with the demand, leading vacancy to dip to 3.1 percent. The third quarter saw more than 900,000 square feet of deliveries, yet both vacancy and availability dropped from the second quarter. A little more than 1.6 million square feet of new construction was set to deliver by the end of this month. JLL Research reports absorption grows as tenants fill big boxes.<\/p>\n

One of the largest new properties completed in the third quarter was Prologis Airport Park 200 in the Southeast Orange submarket, the biggest industrial submarket in Orlando. It is already fully leased.<\/p>\n

JLL Research states the outlook for the Orlando industrial market is strong, with the pandemic spurring a massive increase in demand for e-commerce grocery delivery and other logistics-based services. The growth in e-commerce demand combined with the increase in tourism and opening of the economy in central Florida will likely enable growth for many quarters to come, according to the report.<\/p>\n","protected":false},"excerpt":{"rendered":"

JLL Capital Markets secured the loan with Lincoln Financial Group.<\/p>\n","protected":false},"author":1068,"featured_media":1004562188,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21808,21825,21748,21742,1493],"tags":[32914,32796,44006,37187,36026,33130],"class_list":["post-1004562171","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-featured","category-finance","category-industrial","category-latest","category-orlando","tag-e-commerce","tag-jll","tag-jll-capital-markets","tag-lincoln-financial-group","tag-mccraney-property-company","tag-tavistock-development-company"],"acf":[],"yoast_head":"\nOrlando Industrial Park Lands $120M Refi - Commercial Property Executive<\/title>\n<meta name=\"description\" content=\"McCraney Property Co. and Tavistock Development Co. have refinanced Infinity Park, a newly constructed, 1.3 million-square-foot nine-building, Class A logistics park in Orlando, Fla., with a $120 million loan.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/orlando-industrial-park-lands-120m-refi\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Orlando Industrial Park Lands $120M Refi\" \/>\n<meta property=\"og:description\" content=\"McCraney Property Co. and Tavistock Development Co. have refinanced Infinity Park, a newly constructed, 1.3 million-square-foot nine-building, Class A logistics park in Orlando, Fla., with a $120 million loan.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/orlando-industrial-park-lands-120m-refi\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2021-12-29T11:20:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-12-09T01:35:12+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/12\/Infinity-Park.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"820\" \/>\n\t<meta property=\"og:image:height\" content=\"608\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Gail Kalinoski\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/orlando-industrial-park-lands-120m-refi\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/orlando-industrial-park-lands-120m-refi\/\",\"name\":\"Orlando Industrial Park Lands $120M Refi - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/orlando-industrial-park-lands-120m-refi\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/orlando-industrial-park-lands-120m-refi\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/12\/Infinity-Park.jpg\",\"datePublished\":\"2021-12-29T11:20:23+00:00\",\"dateModified\":\"2022-12-09T01:35:12+00:00\",\"author\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/fc5b5df1393e5023d2417bd48c2fda57\"},\"description\":\"McCraney Property Co. and Tavistock Development Co. have refinanced Infinity Park, a newly constructed, 1.3 million-square-foot nine-building, Class A logistics park in Orlando, Fla., with a $120 million loan.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.commercialsearch.com\/news\/orlando-industrial-park-lands-120m-refi\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.commercialsearch.com\/news\/orlando-industrial-park-lands-120m-refi\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/orlando-industrial-park-lands-120m-refi\/#primaryimage\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/12\/Infinity-Park.jpg\",\"contentUrl\":\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2021\/12\/Infinity-Park.jpg\",\"width\":820,\"height\":608,\"caption\":\"Infinity Park. 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