ST. LOUIS, Sept. 12, 2018 /PRNewswire/ -- CRG, the national real estate developer, announced today that it has hired key leadership from DCT Industrial and is opening a new office in the greater Philadelphia area.
Frank Petkunas is opening CRG's Pennsylvania office in Conshohoken and will serve as Senior Vice President and Partner. Frank will lead CRG's industrial pursuits in the New Jersey and Eastern Pennsylvania markets. Fred Ferraro will join Petkunas, serving as Vice President of Development for the Northeast region.
"The northeast market has long been a core investment target for global capital and particularly for the industrial sector. It's not surprising that CRG identified the region for future expansion," CRG Northeast Senior Vice President and Partner Frank Petkunas said. "Execution has become the winning standard in the industry due to diminishing inventory. CRG's proven track record will give us the ability to aggressively execute across a wide spectrum of projects."
"This is an exciting time in CRG's growth. Our new team members maintain excellent reputations and bring decades of experience developing in the Northeastern market," CRG President Shawn Clark said. "Together, we will build upon CRG's proven track record of developing Class A, state-of-the-art distribution centers in core markets nationally. CRG will deliver new industrial assets exceeding $1 billion over the next three years."
The announcement comes at a time when tenant demand for modern logistics facilities is at an all-time high and consumer demand to purchase goods online is driving e-commerce globally. Retailers are demanding industrial facilities that can accommodate the latest automation technologies and properties that can accommodate increased trailer storage and car park requirements to compete in today's logistics environment.
CRG's major projects under development include The Cubes at Bridgeport, a 1 million-square-foot speculative warehouse in the South I-85 Atlanta market; The Cubes at DuPont, a 1.6-million- square-foot industrial park with 340,000 square feet of existing space and 1.25 million square feet of new development in the Seattle market; and The Cubes at Troutdale, a 350,000-square-foot speculative warehouse in the Portland market.
For more information about CRG industrial portfolio and business development group, visit realcrg.com.
CRG is Clayco's private real estate development firm that acquires, develops, and operates real estate assets. Headquartered in St. Louis, Missouri with offices in Southern California, Seattle, Chicago, Atlanta, Pittsburgh, Philadelphia and northern New Jersey, the CRG team has developed more than 5,000 acres of land and delivered over 160 million square feet of commercial, industrial, and multi-family assets exceeding $9 billion in value. For more information visit www.realcrg.com.
About The Cubes
The Cubes industrial brand is owned and developed by CRG. The Cubes represents CRG's philosophy of developing for the demands of next generation industrial users. The Cubes are designed with an emphasis on sustainability and state-of-the-art building specifications with consumer centric logistics strategies. With the end user always in mind, The Cubes offer superior access to logistics networks and strong, qualified labor supplies.
Frank Petkunas – Senior Vice President, Partner – East Region
In Frank's previous role as Senior Vice President for DCT's Northeast market, Frank implemented the company's activities in the region inclusive of capital deployment for new development and acquisitions, portfolio management and general oversight. Frank has more than 25 years of experience in the commercial real estate industry, during which he has sponsored billions of dollars' worth of acquisition and development transactions. Frank received a Master of Science degree from Johns Hopkins University, a Master of Business Administration degree from Georgetown University and a Bachelor of Science degree from the University of Maryland. He is an active member of ULI, NAIOP and the American Real Estate Society.
Fred Ferraro – Director of Development – East Region
In Fred Ferraro's previous role as Vice President of Development, East Region for DCT Industrial, he was responsible for providing leadership to the Northeast development team and oversaw projects from land acquisition through construction, investment committee approval, financial compliance and lease negotiation. While at DCT, Ferraro developed and entitled over 2 million square feet of Class-A distribution buildings. He has a bachelor's degree from Rutgers University and master's degrees in architecture and in management from the New Jersey Institute of Technology. Ferraro is a member of ULI, NAIOP, SIOR and the American Real Estate Society.
Brittany Burke, CRG