September 12, 2018
SAINT LOUIS, MO – CRG, the national real estate developer, announced today that it has hired key leadership from DCT Industrial and is opening new offices in Newport Beach, California and Conshohoken, Pennsylvania.
In the Northeast, Frank Petkunas is opening CRG’s Pennsylvania office and will serve as Senior Vice President and Partner. Frank will lead CRG’s industrial pursuits in the New Jersey and Eastern Pennsylvania markets. Fred Ferraro will join Petkunas, serving as Vice President of Development for the Northeast region.
In the West, Bud Pharris is opening CRG’s Newport Beach office and will serve as Senior Vice President and Partner. Bud will lead CRG’s industrial pursuits in logistics markets throughout the Western Region. Joe Williams will join Pharris in the Southern California office, serving as Director of Development for the West Region.
“This is an exciting time in CRG’s growth. Our new team members maintain excellent reputations and bring decades of experience developing in their respective markets,” CRG President Shawn Clark said. “Together, we will build upon CRG’s proven track record of developing Class A, state-of-the-art distribution centers in core markets nationally. CRG will deliver new industrial assets exceeding $1 billion over the next three years.”
The announcement comes at a time when tenant demand for modern logistics facilities is at an all-time high and consumer demand to purchase goods online is driving e-commerce globally. Retailers are demanding industrial facilities that can accommodate the latest automation technologies and properties that can accommodate increased trailer storage and car park requirements to compete in today’s logistics environment.
CRG’s major projects under development include The Cubes at Bridgeport, a 1 million-square-foot speculative warehouse in the South I-85 Atlanta market; The Cubes at DuPont, a 1.6-million- square-foot industrial park with 340,000 square feet of existing space and 1.25 million square feet of new development in the Seattle market; and The Cubes at Troutdale, a 350,000-square-foot speculative warehouse in the Portland market.