June 4, 2019
ST. LOUIS, MO – CRG, national real estate development and investment firm, announced a 747,488-square foot long-term lease to Kimberly-Clark at The Cubes at DuPont.
CRG and US Logistics Fund I (“USLF 1”) closed on the former vacant Intel campus in January 2018. Since closing, CRG demolished two former Intel office buildings totaling 640,000-square feet, renovated an existing 340,00-square-foot facility, expanded leases with current tenants and are nearly complete with construction of the speculative distribution warehouse recently leased to Kimberly-Clark.
“We chose this location due to its proximity to the I-5 logistics corridor, Port of Tacoma and the Puget Sound’s significance in the national logistics supply-chain. Kimberly-Clark’s long-term investment in DuPont reflects what our neighbors including Amazon, Ikea, FEDEX, Dania, Pier 1, and others have realized about this strategic location,” said CRG Senior Vice President Mike Wurtsbaugh.
The Cubes at DuPont is a 1.6 million-square-foot business park located in the Northwest Landing community in DuPont, Washington. The property includes an existing 340,000-square-foot facility that underwent extensive capital improvements. Construction for Phase 2, another 494,900 square-foot e-commerce distribution facility, is set to begin immediately. `
“Construction for the second phase will commence on a speculative basis, with a planned delivery of Spring 2020. Our goal is to continue to offer state-of-the-art, e-commerce logistics facilities and continue to grow our Pacific Northwest presence in the Seattle-Tacoma and Portland areas,” added Wurtsbaugh.
CBRE represented Kimberly-Clark and Washington Real Estate Advisors represented the Owner in the transaction.
CRG is a privately held real estate development firm that has developed more than 8,000 acres of land and delivered over 187 million square feet of commercial, industrial, institutional and multifamily assets exceeding $11 billion in value. CRG, headquartered in St. Louis, leverages a powerful North American platform with local market expertise and offices in Atlanta, Chicago, Columbus, Newport Beach, CA and Philadelphia. CRG’s philosophy of developing for the future and anticipating the enhanced needs of next generation users led to the creation of their industrial brand, The Cubes, and their multifamily brand, chapter. For more information, visit CRG’s website at www.realcrg.com
About The Cubes
The Cubes is a North American industrial brand owned and developed by CRG. The Cubes represents CRG’s philosophy of developing for the future and anticipating the enhanced needs of tomorrow’s modern industrial user. The Cubes are designed with an emphasis on sustainability, and implement state-of-the-art specifications, including maximum clear heights, dock doors and trailer storage to keep pace with the shift to consumer-centric logistic strategies. The Cubes are located on strategic sites that take into consideration both logistics and labor supply, always with the end user in mind.