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The Cubes at Plainville/Image courtesy of Lamar Johnson Collaborative
One of the largest speculative industrial projects in the Bay State will break ground this fall after receiving $121 million in construction financing.
Developer CRG of Chicago specializes in massive distribution centers for tenants including Amazon.
The project will include 1.1 million square feet of distribution space on an 85-acre site at 123 Gilboa Road in the southern Worcester County town of Douglas. Completion is scheduled for fall 2023.
BMO Harris Bank of Chicago provided a $121 million construction loan, according to Worcester County Registry of Deeds records.
The fast-track schedule will utilize tilt-up construction techniques to deliver the building with 40-foot clear heights, 51-by-51 column spacing and 171 loading docks. The project will include parking for 220 trailers and 651 cars.
Newmark is exclusive leasing agent for the property. According to Newmark research, Greater Boston’s 218-million-square-foot industrial market had a vacancy rate of just 3 percent at the end of the second quarter.
The facility was designed by Lamar Johnson Collaborative and Clayco is the general contractor.
CRG currently is developing another large-scale Massachusetts project, The Cubes at Plainville, a 662,400-square-foot speculative distribution center under construction near Interstate 495.
