CRG to develop multimodal industrial facility adjacent to 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, southeast of O'Hare International Airport.
The site is located at the intersection of Irving Park Road and Seymour Avenue, with direct access to I-294 and the airport. The multimodal facility will accommodate small and mid-size users looking for Class A space in one of Chicago’s most supply-constrained industrial submarkets. Completion is expected by year end.
“We are proud to remain at the forefront of industrial development and kick off our latest project, part of The Cubes brand, near O'Hare International Airport, bringing a smaller, cutting-edge warehouse and distribution facility to one of the most dynamic logistics hubs in the country,” said Susan Bergdoll, CRG senior vice president and partner for the Midwest region. “This project further supports our strategy to provide modern, efficient spaces in desirable, infill locations that have become a critical link in today’s supply chains.”
CRG is known for developing large-scale warehouse and distribution centers in major national markets, such as the 1.03 million-square-foot Cubes at Country Club Hills in South suburban Chicago. It also is acquiring and developing smaller facilities closer to major population centers. As consumers expect faster delivery times, smaller, last-mile industrial facilities are increasingly valued — and rare.
The O’Hare submarket recorded a 2.49% vacancy rate at the end of 2023, according to Colliers.
Once completed, The Cubes at ORD will offer modern features such as ESFR sprinkler systems, high-efficiency LED lighting, 20 exterior dock doors, two drive-in doors, 11 trailer storage spaces, and car and truck parking for 70 vehicles. CRG’s parent company, Clayco, is the builder for the project, and CRG affiliate Lamar Johnson Collaborative will serve as the architect.
“The Cubes at ORD is significant to CRG because it is our smallest industrial development to date,” said Shawn Clark, CEO of CRG. “The project highlights our diversification strategy into smaller-scale developments and acquisitions, strategically positioned to meet our clients’ needs.”
Avison Young’s Brian Colson and Brian Pomorski, both principals, Industrial Services, 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 has planned, broken ground on or completed more than 57 million square feet of industrial projects, serving tenants such as Amazon, Lowe’s and McKesson.