CRG to Develop Warehouse – Distribution Park in Columbus Submarket
COLUMBUS, OH – CRG is developing CRG-Etna Park 70, a 155-acre land development centrally located in Etna Township, a Columbus, Ohio submarket. Construction is expected to begin Q1 2018.
The first phase is part of a larger Industrial Park for build-to-suit developments consisting of warehouse – distribution center space. The pad ready infrastructure in the first phase can accommodate up to 2.4 million square feet.
“The Columbus trade area industrial market growth shows that the market is absorbing well over 4.5 million square feet annually with 8.8 million square feet previous year. CRG-Etna Park 70 is in a position to capture the future growth for large warehouse distribution and e-commerce fulfillment centers,” said CRG’s Midwest Region Senior Vice President and Partner Scott Caplan. “The most recent completion of the Etna Interchange of I-70 and SR 310 now being compliant with a 5 lane bridge and a 2 lane signalized off ramp within 100 yards of our park. Because of this superior location and infrastructure, we are meeting the needs of regional industrial users in other markets.”
Additional amenities will include a proposed 15-year full tax abatement.
The first phase of the project is expected to be complete summer 2019. Parent company Clayco will serve as the design-builder and its subsidiary, Lamar Johnson Collaborative is the architect on the project.
To finance the project, CRG formed a joint venture with affiliates of Lexington Realty Trust.