Steven E. McCraney Of McCraney Property Company Acquires Industrial Asset In Orlando For $23M
1801 Cypress Lake Drive
$23,000,000
$136/SF
Building Size
168,515 SF
Asset Type
Industrial
Closing
Oct 2, 2025
AI
The property asset involved in the transaction is a distribution facility located at 1801 Cypress Lake Drive in Orlando. It spans 168,515 square feet and sits on 10.6 acres of land. The sale price for the asset was $23,000,000, equating to a price per square foot of $136.
Summary of transaction details:
- Property Type: Industrial
- Transaction Amount: $23,000,000
- Address: 1801 Cypress Lake Drive
- Market: Orlando
- Acres: 10.6
- Square Footage: 168,515
- Price Per Square Foot: $136
- Buyer: Steven E. McCraney - McCraney Property Company
- Seller: Veyer Logistics
- Broker Representatives: Luis Castillo, Cody Brais, Taylor Osborne & David Orta Jr. - JLL
- Mortgage Brokers: Melissa Rose, Michael DiCosimo, Nicole Barba & Magnus Kron - JLL
In this transaction, JLL played a key role by arranging the sale and facilitating a three-year floating-rate loan through Truist Bank. They will also handle leasing for the property. McCraney Property Company is planning capital upgrades such as roof replacement, truck court repairs, and office modernization.
Players
Orlando Industrial Market Snapshot
Boundary boundary · Industrial · Sale transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.69%
Cash-on-Cash
-0.20%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93