January 29, 2018
ST. LOUIS, MO – St. Louis based real estate developer CRG is launching three new industrial projects in top tier markets across the United States. CRG acquired DuPont Corporate Center located south of Seattle on January 5, 2018 on behalf of itself and certain investors. And last week, CRG announced its developing CRG-Etna Park 70 in Etna Township in the Columbus, Ohio submarket and Inland 85 Logistics Center in Spartanburg County, South Carolina.
CRG is Clayco’s private real estate investment firm that acquires, develops, and operates real estate assets. CRG is headquartered in St. Louis, Missouri with offices in Chicago, Sacramento, Atlanta, Pittsburgh and Northern New Jersey.
CRG has been successful in developing many high profile projects in the St Louis area including NorthPark, the Express Scripts campus, Pfizer, and other major developments across north America.
“This is an exciting time for CRG as we continue to grow our footprint in 2018. The new developments in the dynamic Pacific Northwest, Columbus and Spartanburg-Greenville markets are another example that showcases CRG’s rapidly growing national industrial portfolio,” said CRG President Chris McKee. “These properties are positioned in prime locations to deliver today’s top modern user in need of fulfillment and distribution space.”
DuPont Corporate Center is master planned as a 1.6 million square foot institutional quality business park on the former Intel campus in DuPont, Washington just south of Seattle. The site includes an existing 340,000 square foot facility that will undergo extensive capital improvements. Phase 1 of the development is designed to include a 750,200 square foot state-of-the art distribution facility. Construction is expected to begin summer 2018. A strategic regional logistics hub, DuPont Corporate Center is located in immediate proximity to Interstate 5, less than 20 minutes from the Port of Tacoma.
Construction on CRG-Etna Park 70, a 155-acre land development centrally located in Etna Township in Columbus, Ohio is expected to begin Q1 2018. The first phase is part of a larger Industrial Park for build-to-suit developments consisting of industrial warehouse center space. The pad ready infrastructure in the first phase can accommodate up to 2.4 million square feet.
Inland 85 Logistics Center, a 324-acre site in Spartanburg County, South Carolina. Phase 1 will include a 500,280 foot speculative warehouse center expandable to 1,186,680 square feet, which will be available for occupancy in Q4 2018. The site is located adjacent to BMW U.S. Headquarters and in the vicinity Michelin North America with immediate access to South Carolina Inland Port, Greenville-Spartanburg International Airport.
CRG also has a number of active projects in Chicago, Atlanta suburb of Locust Grove and Coweta County, Georgia, Portland, Oregon, Sioux Falls, Dallas-Fort Worth, and Lehigh Valley, Pennsylvania.
DuPont Corporate Center: CRG Senior Vice President Mike Wurtsbaugh said: “We look forward to being a part of the City of DuPont and the Northwest Landing Community. The Puget Sound Region, and the I-5 Corridor from Seattle to Portland is an e-commerce hot spot. The region continues to be one of the most consistent performers and most dynamic investment markets in the Country.”
CRG-Etna Park 70: CRG’s Midwest Region Senior Vice President and Partner Scott Caplan said: “The Columbus trade area industrial market growth shows that the market is absorbing well over 4.5 million square feet annually with 8.8 million square feet previous year. CRG-Etna Park 70 is in a position to capture the future growth for large warehouse distribution and e-commerce fulfillment centers. The most recent completion of the Etna Interchange of I-70 and SR 310 now being compliant with a 5 lane bridge and a 2 lane signalized off ramp within 100 yards of our park. Because of this superior location and infrastructure, we are meeting the needs of regional industrial users in other markets.”
Inland 85 Distribution Center: CRG Southeast Partner Mike Demperio said: “CRG has looked for superior sites throughout the Greenville–Spartanburg industrial market and Inland 85 Distribution Center will deliver to today’s modern industrial user. We see significant opportunity along the I-85 corridor with immediate access to South Carolina Inland Port, Greenville-Spartanburg International Airport and close proximity to the Port of Charleston, Columbia, Charlotte, Savannah and Atlanta.”