Development addresses growing demand for Class A industrial space along Interstate 78 corridor in Lehigh Valley
CRG, the national real estate development and investment firm, in a joint venture with PCCP, the real estate finance and investment management firm, today announced plans to develop The Cubes at Alpha, a Class A industrial park in Alpha, N.J., comprising two warehouses totaling 575,900 square feet. Completion is anticipated in third-quarter 2025.
Located on a 37-acre site on Industrial Road, The Cubes at Alpha offers immediate access to Interstate 78 and is designed to accommodate a variety of users, including e-commerce, distribution, third-party logistics and manufacturing companies. The Cubes at Alpha will feature two single-side-load buildings, one measuring 270,900 square feet and the other 305,000 square feet. Each will offer 36-foot clear heights, wide column spacing, ESFR sprinkler systems, deep truck courts, ample car parking and extensive trailer stalls and storage.
“We believe this project represents our commitment to delivering top-tier industrial facilities that meet the evolving needs of today’s logistics and manufacturing users,” said Frank Petkunas, executive vice president and partner for the Northeast Region, CRG. “With its strategic location, modern design and access to major transportation networks, we believe The Cubes at Alpha is poised to become a premier destination for businesses looking to expand their footprint in the Northeast.”
The project is situated in the Phillipsburg, N.J., industrial node, which has recently attracted national tenants and institutional owners due to its proximity to the Port of New York and New Jersey, without the costs of being right next to the port. The region offers a compelling value proposition compared to Central New Jersey, making it an ideal location for companies seeking cost-effective solutions without sacrificing accessibility.
“Along with our experienced partner, CRG, we are excited to develop Class A product within an institutional, core pocket of New Jersey,” said Lia Barsanti, vice president, PCCP. “We believe The Cubes at Alpha is well positioned to attract port-focused users currently seeking industrial space between the Lehigh Valley and Central New Jersey markets.”
CRG’s parent company, Clayco, will serve as the design-builder for the project, while integrated partner Lamar Johnson Collaborative is the architect.
Including The Cubes at Alpha, CRG has planned, broken ground on or completed over 53 million square feet of industrial projects across the United States. The firm’s national industrial platform, marketed as The Cubes, is designed with an emphasis on sustainability and state-of-the-art specifications to meet the needs of modern corporate users.
About CRG:
CRG is a privately owned North American real estate development and investment firm founded in 1993 with deep expertise in delivering and owning industrial, office, multifamily, student housing and mixed-use assets. The firm serves clients and investors from seven regional offices, benefiting from local expertise in Chicago, St. Louis, Seattle, Southern California, Phoenix, Philadelphia and Atlanta. CRG has developed more than 12,500 acres of land and delivered over 220 million square feet of assets exceeding $14 billion in value. 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 users. 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 in strategic locations that take into consideration both logistics and labor supply, always with the end user in mind.
About PCCP:
PCCP is a real estate finance and investment management firm focused on commercial real estate debt and equity investments. PCCP has $24.2 billion in assets under management on behalf of institutional investors as of June 30, 2024. With offices in New York, San Francisco, Atlanta and Los Angeles, PCCP has a 26-year track record of providing real estate owners and investors with a broad range of funding options to meet capital requirements. PCCP underwrites the entire capital stack to exploit inefficiencies in the market and provide investors with attractive risk-adjusted returns. Since its inception in 1998, PCCP has managed, raised or invested over $41.6 billion of capital through a series of investment vehicles including private equity funds, separate accounts and joint ventures. PCCP continues to seek investment opportunities with experienced operators seeking fast and reliable capital. Learn more about PCCP at www.pccpllc.com.
CRG and PCCP will develop The Cubes at Alpha, a Class A industrial park in Alpha, N.J., comprising two warehouses totaling 575,900 square feet.