CRG Breaks Ground on Building E at The Cubes at Etna 70October 8, 2021
CRG, the Chicago-based national real estate development and investment firm, and its capital partner Lexington Realty Trust (Lexington) today announced they have broken ground on Building E at The Cubes at Etna 70, a new 1,074,840-square-foot spec distribution facility at 9800 Schuster Way in Etna, Ohio, about 20 miles east of Columbus.
Located at the Interstate 70 interchange at State Route 310, with 2,000 feet of frontage on I-70, Building E at The Cubes at Etna 70 will be CRG’s and Lexington’s second 1-million-square-foot-plus facility in the Columbus market and is designed to meet the metro area’s growing demand for mega-bulk facilities. The facility will deliver in spring 2022. CBRE’s Jeff Lyons is the broker for the project.
“The Cubes at Etna 70 is a premier location within the Columbus market, offering immediate interstate access and freeway visibility to I-70, as well as access to the strong East Columbus labor pool,” said Kevin Scott, vice president of investments and development for CRG. “Columbus currently has extremely limited bulk facilities and tenant demand continues. Building E is designed to superior specifications that meet the needs of the modern supply chain.”
Building E will feature 40’ clear heights, heavy trailer and car parking and full site concrete, including concrete truck court and drive aisles, abundant auto and trailer parking and 108 fully equipped dock positions (expandable). The property also offers a 15-year, 100% tax abatement. Contegra Construction is serving as the builder and Lamar Johnson Collaborative, a subsidiary of CRG’s parent company, Clayco, is the architect.
This is the second development at The Cubes at Etna 70, which encompasses 289 acres of former farmland that CRG and Lexington purchased in 2018. A 1.2-million-square-foot build-to-suit for Kohl’s was developed by CRG and delivered in 2020. This facility is home to Kohl’s state-of-the-art e-commerce fulfillment center and has brought more than 400 jobs to the area. Four additional pad-ready land sites – Pads B, C, D and F – remain available for development. In all, the site can accommodate up to two million square feet of additional facilities, all of which would be eligible for a 15-year tax abatement.
CRG and Lexington recently completed another successful spec industrial facility in the Columbus area, The Cubes at Rickenbacker, a 320,000-square-foot distribution center in Obetz, Ohio, about 7 miles south of downtown. The facility was leased upon delivery in late 2020 to PepsiCo.
“Columbus and the Ohio Valley Region remain an important part of CRG’s strategy,” said Shawn Clark, president of CRG. “Our land position and partnership with Lexington Realty Trust put our team in an excellent position to meet tenant demand in the market.”
CRG has broken ground on approximately 18 million square feet of The Cubes branded projects across the U.S., more than 10 million square feet of which has already been delivered. Other Midwest Cubes projects include The Cubes at French Lake in Minnesota and The Cubes at Country Club Hills in Chicago.
CRG is a privately held real estate development firm that has developed more than 9,000 acres of land and delivered over 200 million square feet of commercial, industrial, institutional and multifamily assets exceeding $12 billion in value. CRG leverages a powerful North American platform with local market expertise and offices in Atlanta, Chicago, Columbus, Southern California, St. Louis and Philadelphia. CRG’s philosophy of developing for the future and anticipating the enhanced needs of next generation users led to the creation of its industrial brand, The Cubes, and its 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.