Crescent Communities Kicks Off Industrial Brand
The developer is building 1.7 million square feet in the Southeast.
Crescent Communities is continuing to build its industrial platform with the debut of a new brand name—AXIAL Industrial—and development plans for three industrial investments totaling almost 1.7 million square feet across eight buildings in three markets.
The projects will be AXIAL Crosspoint in Greenville, S.C.; AXIAL Bonds Farm in Concord, N.C.; and AXIAL 301 Manatee in Bradenton, Fla. Construction is set to begin early this year on all three projects, with completion slated for 2023.
AXIAL Bonds Farm will have three rear-load buildings totaling 809,720 square feet with various-sized structures and ample employee parking to accommodate international, national and regional users with a focus on manufacturing, assembly and last-mile fulfillment.
AXIAL Crosspoint will consist of three rear-load buildings totaling 532,000 square feet. It will feature modern clear heights and trailer parking to provide flexibility and cater to multiple users including local and regional distribution tenants and e-commerce companies.
AXIAL 301 Manatee will have nearly 295,000 square feet across two buildings designed to accommodate single or multiple tenants for a variety of uses.
‘One-stop platform’
Crescent, a national real estate investor, developer and operator, noted the new brand name is designed to further strengthen the Charlotte, N.C.-based company’s already successful industrial division. Founded in 1963, the company has been active in industrial development as well as office, life science, multifamily and master-planned projects. This week, Crescent also announced it had partnered with Nuveen Real Estate to acquire 120 acres in Holly Springs, N.C., to expand The Yield, its $500 million life science campus in the Research Triangle. Industrial, life science and office developments represent nearly $2.4 billion in investments in Crescent’s 22 million-square-foot portfolio.
Bryan Blythe, managing director of AXIAL Industrial at Crescent Communities’ commercial business unit, said in a prepared statement the renamed platform will provide the company’s clients with a one-stop platform for each industrial development from land acquisition to product development for each location.
Blythe noted AXIAL Bonds Farm will be an extension to the company’s industrial development throughout the greater Charlotte market. He said AXIAL Crosspoint will mark Crescent’s expansion into Greenville and AXIAL 310 Manatee will be the company’s first industrial project in Bradenton.
