CRG, the real estate development and investment arm of Clayco, has announced it is developing The Cubes at Glendale, a 335-acre industrial park featuring 5.5MSF at the intersection of Reems Road and Northern Avenue in Glendale.
The project, which is a strategic joint-venture partnership with Bird Dog Industrial, will begin construction of a 1.2MSF speculative warehouse on March 1st. The firm closed on the first 260-acre parcel of land for the development with a second expected to close in the second quarter.
CRG currently has an active pipeline of more than 25 projects valued at more than $3B throughout the country. This project, which went from contract to close in 88 days, is the first of many opportunities slated for the firm in the Southwest.
JLL VP John Lydon represented CRG in the land acquisition and JLL Managing Director Tony Lydon represented the seller. John Lydon and Bill Honsaker, managing director with JLL, will be handling the leasing.
The Cubes at Glendale is strategically located within the Loop 303 Corridor and near the newly-constructed Northern Parkway, providing multiple access points for trucks and employees. The project’s first development is a 1.2MSF speculative warehouse featuring 40-foot clear heights, 213 dock doors, 50-foot by 56-foot column spacing and parking capable of handling 740 car parking spaces and 470 trailer parking spaces.
Clayco will serve as the builder, while enterprise partner Lamar Johnson Collaborative is the architect for the first warehouse.