CRG Begins 560-Acre Atlanta-Area Industrial Project
- Jul 19, 2018
In partnership with Pope & Land Enterprises Inc., CRG has begun developing The Cubes at Bridgeport, a 560-acre project of up to 8.5 million square feet of industrial space in Coweta County, in the Southwest Atlanta submarket.
The Bridgeport development is sited at Exit 41 on Interstate 85 and near both CSX and Norfolk Southern railroads, Hartsfield-Jackson Atlanta International and Newnan-Coweta County Airport, a 5,600-acre regional airport.
In a joint venture with institutional capital, the development’s first phase features a 1 million-square-foot speculative building with 40-foot clear height, capable of handling high-cube warehousing, e-commerce and manufacturing requirements.
The building is valued at roughly $50 million and could accommodate either one or two tenants, CRG Southeast Region Vice President Mike Demperio told Commercial Property Executive. He added that Bridgeport provides “a lot of flexibility” and could handle a building of up to about 2 million square feet.
The first phase also includes major infrastructure improvements such as ramp upgrades, a new signalized intersection on Highway 29, a public parkway and overpass above the CSX main rail line, as well as water, 2 miles of new sanitary sewer and electric utility improvements. In addition, a 600,000-square-foot site has been graded.
Clayco is the design-builder and its subsidiary, BatesForum, is the architect on the project. Construction on the 1 million-square-foot building is slated for completion in February 2019, Demperio said.
“The I-85 South corridor continues to be the most vibrant and active industrial area of Atlanta,” in large measure because of its access to the interstate and to rail and air transportation, Demperio said in a prepared statement.
Headquartered in St. Louis, CRG is Clayco’s private real estate development firm. Headquartered in Atlanta, Pope & Land specializes in developing mixed-use properties in the Southeast. JLL’s Chris Tomasulo and Steve Grable lead the project’s marketing team.
An expanding brand
The Cubes at Bridgeport is CRG’s sixth industrial park. Also in the Atlanta metro, CRG developed The Cubes at Locust Grove, a 1 million-square-foot distribution center in that Atlanta suburb.
At The Cubes at Inland 85, a 324-acre site in the Greenville, S.C., market, a 500,280-square-foot speculative building expandable to roughly 1.2 million square feet is currently under development.
In May, CRG announced The Cubes at Troutdale, in metro Portland, Ore. The 350,000-square-foot spec building is scheduled for delivery in September 2019.
Image courtesy of CRG