CRG Sells New 1.2 MSF Industrial Facility in Richmond Leased to Lowe’s
RICHMOND, VA. — CRG, a Chicago-based industrial developer behind the Cubes brand of logistics facilities, has sold a 1.2 million-square-foot industrial property located at 2703 Commerce Road in Richmond. Situated within 110-acre Deepwater Industrial Park, the property was delivered in October as a build-to-suit for Lowe’s Home Centers, a subsidiary of national retailer Lowe’s Home Improvement. Realty Income Corp. purchased the facility for an undisclosed price. Patrick Nally, Britton Burdette, Bill Prutting, Craig Childs and Josh McArdle of JLL represented CRG in the sale.
Similar to all Cubes-branded facilities, the Lowe’s facility features 36-foot clear heights, ESFR sprinkler systems, LED lighting, ample dock doors, trailer storage and car and truck parking. The design-build team includes development partners DSC Partners and Iron Point Partners, as well as architect Lamar Johnson Collaborative and general contractor and development partner Hourigan Group. The Richmond facility is the third property that CRG has developed for Lowe’s.