CRG Partners With U.S. Logistics Fund I
Announces partnership with build-to-core industrial investment vehicle
November 13, 2018
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ST. LOUIS, MO – National developer CRG, today announced that it has partnered with U.S. Logistics Fund I (USLF I), an industrial real estate fund.
As CRG’s first institutional fund partnership it will focus on making investments in the development of modern distribution facilities in U.S. markets with primary logistics corridors and multi-modal transportation networks. The fund will hold the industrial assets long-term, seeking core-plus returns for its investors. USLF I has secured a seed commitment from an institutional investor and is currently seeking additional commitments from new investors.
“The partnership with USLF I is a logical extension of our integrated platform and serves as a major benefit to our clients,” said CRG President Shawn Clark. “CRG’s investors will continue to benefit from our robust pipeline, mitigated delivery risk and enhanced returns through development.”
To date, USLF I has made investments in three CRG developments including 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.
“Tenant demand for modern logistics facilities is at an all-time high and consumer demand to purchase goods online is driving e-commerce growth globally. In order to stay competitive retailers are demanding state-of-the-art industrial facilities that can accommodate the latest automation technologies as well as properties that can accommodate increased trailer storage and car park requirements. With the majority of existing inventory obsolete, CRG believes demand for new supply will extend the current cycle for years to come,” added Clark.
CRG recently announced new offices in Newport Beach, California and Conshohocken, Pennsylvania to service the West and Northeast regions respectively. The offices are led by former DCT Industrial Trust leaders, Bud Pharris and Frank Petkunas. Over the next three years, CRG expects to deliver assets that exceed $1 billion of value.
For more information about CRG and U.S. Logistics Fund 1, visit realcrg.com.
About CRG
CRG is Clayco’s private real estate development firm that acquires, develops, and operates real estate assets. Headquartered in St. Louis, Missouri with offices in Chicago, Sacramento, Atlanta, Pittsburgh and northern New Jersey, the CRG team has developed more than 5,000 acres of land and delivered over 160 million square feet of commercial, industrial, and multi-family assets exceeding $9 billion in value. For more information visit www.realcrg.com.
About U.S. Logistics Fund 1
U.S. Logistics Fund 1 (USLF 1) creates value for institutional investor clients by making informed real estate investments in industrial properties. The fund seeks to invest in value-added acquisition and development of modern distribution facilities in core markets and strategic logistics locations throughout North America.
About The Cubes
The Cubes industrial brand is owned and developed by CRG. The Cubes represents CRG’s philosophy of developing for the demands of next generation industrial users. The Cubes are designed with an emphasis on sustainability and state-of-the-art building specifications with consumer centric logistics strategies. With the end user always in mind, The Cubes offer superior access to logistics networks and strong, qualified labor supplies.
About Clayco
Clayco is a full-service, turnkey real estate development, master planning, architecture, engineering and construction firm that delivers clients across North America the highest quality solutions on time, on budget, and above and beyond expectations. With over $2 billion in revenue for 2017, Clayco specializes in the “art and science of building,” providing fast track, efficient solutions for industrial, commercial, institutional and residential related building projects. For more information visit www.claycorp.com.