CRG expands operations on the West Coast
CHESTERFIELD, MO – CRG, the national real estate developer, announced today that it has hired key leadership from DCT Industrial and is opening a new office in Southern California.
Bud Pharris is opening CRG’s Newport Beach office and will serve as Senior Vice President and Partner. Bud will lead CRG’s industrial pursuits in logistics markets throughout the Western Region. Joe Williams will join Pharris in the Southern California office, serving as Director of Development for the West Region.
“CRG’s vision to expand its fully integrated development solutions platform on the West coast align perfectly with Joe and my development goals and industry experience.,” CRG Western Region Senior Vice President and Partner Bud Pharris said. “I look forward to my new role with CRG and the opportunity to continue to execute on a Western regional development platform in one of the hottest industrial markets in the country.”
“This is an exciting time in CRG’s growth. Our new team members maintain excellent reputations and bring decades of experience developing on the West coast ,” CRG President Shawn Clark said. “Together, we will build upon CRG’s proven track record of developing Class A, state-of-the-art distribution centers in core markets nationally. CRG will deliver new industrial assets exceeding $1 billion over the next three years.”
The announcement comes at a time when tenant demand for modern logistics facilities is at an all-time high and consumer demand to purchase goods online is driving e-commerce globally. Retailers are demanding industrial facilities that can accommodate the latest automation technologies and properties that can accommodate increased trailer storage and car park requirements to compete in today’s logistics environment.
CRG’s major projects under development include The Cubes at Bridgeport, a 1 million-square-foot speculative warehouse in the South I-85 Atlanta market; The Cubes at DuPont, a 1.6-million- square-foot industrial park with 340,000 square feet of existing space and 1.25 million square feet of new development in the Seattle market; and The Cubes at Troutdale, a 350,000-square-foot speculative warehouse in the Portland market.