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CRG to Develop Industrial Facility Near O’Hare
CRG, a Chicago-based real estate development and investment management firm, is developing The Cubes at ORD, a 66,552-square-foot speculative industrial project on 4.27 acres at 3901 Fleetwood Drive in Franklin Park, Illinois, immediately southeast of O’Hare International Airport.
Avison Young’s Brian Colson and Brian Pomorski will spearhead leasing efforts for the development. In the land purchase transaction, CBRE’s Michael Caprile and his team represented the sellers, with Avison Young representing CRG. CRG’s parent company, Clayco, will serve as the builder for the project, and CRG affiliate Lamar Johnson Collaborative will be the architect.
CRG is also acquiring and developing smaller facilities closer to major population centers, like the 1.03 million-square-foot Cubes at Country Club Hills in south suburban Chicago. As consumers expect ever-faster delivery times, smaller, last-mile industrial facilities have become increasingly valued – and rare.
The O’Hare submarket recorded a 2.49% vacancy rate at the end of 2023, according to Colliers, and as consumers expect ever-faster delivery times, smaller, last-mile industrial facilities have become increasingly valued – and rare.
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