Clayco Targets $1.5 billion in Industrial Projects
Clayco's development arm has raised $100 million over the past four months and aims to pull together at least $350 million more for a new fund it will use to speed up its building spree for retailers to store and distribute goods purchased online.
The new fund is the firm's second big capital-raising effort targeting warehouse development. Now that the COVID-19 pandemic has supercharged online shopping and forced major retailers to bolster their supply chains to meet the demand, CRG is part of the herd of developers moving fast to build more strategically located industrial properties for companies like Amazon, Target, Walmart, Home Depot and others.
One of those core markets is Chicago. CRG recently acquired a 70-acre property in south suburban Country Club Hills, where it plans to build a 1 million-square-foot industrial facility at the intersection of interstates 57 and 80. The project will be CRG's first new logistics warehouse in the Chicago area when it's completed in mid-2022 and the first project that will use capital from its newly created logistics fund. ATMI Precast is honored to be the precast contractor to partner with Clayco on this project.
For more information, click here.