Crow Holdings Planning $53M, 800K SF Industrial Building in Lancaster

Crow Holdings is looking to build a 799,183 square foot industrial building at 600 E. Wintergreen Road in Lancaster. Public filings indicate the industrial giant has hired Dallas-based Azimuth Architecture to do the design work. The Dallas Business Journal reports that Crow Holdings expects to get going on the project in June of 2023 with delivery date a year later, June of 2024. They expect the project to cost approximately $53 million.

Building costs will likely come out of the Crow Holdings Industrial Properties Trust (CHIPT). It was formed to pursue the development and acquisition of Class A industrial properties in key logistics markets across the U.S. The trust closed last year with over $600 million of equity commitments that can provide for more than $1.5 billion of total project-level investment. The company has over $29 billion in assets under management (see picture).