Crow Holdings Industrial (CHI) of Dallas-based Crow Holdings, on Thursday announced its most active quarter to date, with record sales and leasing activity and more than 8 million square feet under construction.
Following its successful 2019, Crow Holdings expects to break ground on an additional ten million square feet in 2020.
“With expanding e-commerce growth, demand is outpacing supply of Class-A industrial space in virtually every U.S. metro, and our substantial development pipeline is testament to CHI’s ability to meet pressing market needs,” said Ken Valach, chief executive officer of CHI. “With offices across the U.S., we have a deep understanding of market dynamics from coast-to-coast which helps us create attractive properties that deliver value to our tenants. CHI’s experienced local development teams have been effective in working with cities and municipalities to deliver high quality, attractive properties that capitalize on strong tenant and investor demand across the country.”
In the fourth quarter of 2019, Crow Holdings signed more than 1.7 million square feet of new leases across seven of the firm’s properties, including a full-building 930,000-square-foot lease with LG Electronics in Franklin Township.
Crow Holdings also completed the sale of four properties totaling $275 million, reflecting the successful execution of the company’s business plan and underscoring its continued ability to drive value across the lifecycle from site identification and development through to lease-up, management and disposition.
Crow Holdings’ current projects under construction are spread across 15 development sites and 30 buildings in markets including New Jersey, Atlanta, Los Angeles, Houston, Dallas and Chicago, with high quality amenities that help address labor shortages by improving the lifestyle and productivity of tenant teams.
“We make a concerted effort to create inviting, well-amenitized properties that not only support our tenants’ operations but help them attract and retain a talented workforce,” said Valach. “This focus on creating a best-in-market product has been a significant factor in driving the success of our portfolio. With 16 new projects totaling 10 million square feet set to break ground this year, we’re poised to continue our strong development activity in 2020, bringing much-needed industrial properties to markets across the country.”