CRG Announces Sale of The Cubes at Emig Road in York, Pa.
Purchase of 312,000 SF distribution facility affirms the strength of CRG’s The Cubes brand and Northeast industrial strategy
YORK, Pa. (March 29, 2022) — CRG, the national real estate development and investment firm, today announced it has sold The Cubes at Emig Road, a newly constructed 311,920-square-foot distribution facility situated on 29 acres at 434 Emig Road in York, Pa. The purchase price for the facility – which was developed speculatively in 2021 – was not disclosed. Approximately 125,000 square feet of the building is leased to DCL Logistics, a third-party logistics company based in Fremont, Calif. The remainder is currently being marketed by JLL.
“The sale of The Cubes at Emig Road reaffirms the strength of The Cubes brand and our broader Northeast industrial development strategy amid unprecedented demand,” said Frank Petkunas, senior vice president, Northeast Region, and partner for CRG. “Real estate acquirers of industrial space are very discerning in terms of market, building quality, and tenancy, which we anticipate from the earliest stages of each project. We continue to explore development opportunities in high-growth markets throughout the region that offer proximity to labor, infrastructure, and major population centers.”
Located in the I-78/I-81 corridor, where Class A vacancy rates fell to an all-time low in 2021, The Cubes at Emig Road offers ideal proximity to Harrisburg, Baltimore, Washington, D.C., Philadelphia, New York City, and Boston.
The cross-dock warehouse features 36-foot clear height, high-efficiency LED lighting, 29 dock doors, 149 car parking spaces, and 27 dedicated trailer stalls. CRG’s parent company, Clayco, served as the design-builder on the project and its subsidiary, Lamar Johnson Collaborative, was the architect.
“The Cubes at Emig is an excellent modern warehouse and well located on the I-81 industrial corridor to serve the needs of retailers, consumer products companies, and third-party logistics firms in the Eastern United States,” stated Shawn Clark, president of CRG. “York, Pa. is a special market with quick access to Baltimore and Philadelphia’s strong intermodal network providing access to the nation’s top MSAs.”
CRG also developed The Cubes at Lehigh Valley, a 450,000-square-foot spec facility in East Allen Township, Pa., within the Lehigh Valley metropolitan area.
Nationally, CRG has planned, broken ground on, or completed over 43 million square feet of Cubes projects throughout the U.S., with 25 million square feet delivered as of first-quarter 2022.
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.
CRG is a privately held national real estate development and investment firm that has developed more than 10,000 acres of land and delivered over 210 million square feet of commercial, industrial, institutional, and multifamily assets exceeding $13 billion in value. CRG leverages a powerful North American platform with local market expertise and offices in Atlanta, Chicago, Seattle, Southern California, St. Louis, Philadelphia and Phoenix. 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.
Clayco is a full-service, turnkey real estate development, master planning, architecture, engineering, and construction firm that safely delivers clients across North America the highest quality solutions on time, on budget, and above and beyond expectations. With $4.9 billion in revenue for 2021, 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.