CRG to develop multimodal industrial facility adjacent to O’Hare International Airport

CRG, the Chicago-based real estate development and investment management firm, today announced it 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, Ill., immediately southeast of O'Hare International Airport.

Located at the major intersection of Irving Park Road and Seymour Avenue, with direct access to Interstate 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 in fourth-quarter 2024.

"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, senior vice president and partner for the Midwest region at CRG. "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.”

Well-known for developing large-scale warehouse and distribution centers in major national markets, like the 1.03 million-square-foot Cubes at Country Club Hills in south suburban Chicago, CRG also is acquiring and developing smaller facilities closer to major population centers. As consumers expect ever-faster delivery times, smaller, last-mile industrial facilities have become 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 the same modern features as CRG's other Cubes-branded facilities, including 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 – all features sought by the nation's leading companies. CRG's parent company, Clayco, will serve as 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.”

CRG has engaged Avison Young’s Brian Colson and Brian Pomorski, both principals, Industrial Services, to spearhead leasing efforts for its 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 over 57 million square feet of industrial projects, serving tenants such as Amazon, Lowe's and McKesson. In the Chicago area, CRG recently completed and executed a full-building lease with Dart Container at The Cubes at Country Club Hills, supporting the firm’s Midwest distribution operations.