CRG, PCCP to develop 576,000 sq. ft. industrial park near Phillipsburg – Real Estate NJ

By Joshua Burd

A joint venture has unveiled plans for nearly 576,000 square feet of new industrial space in Warren County as part of a two-building project near Interstate 78.

Developer CRG is teaming with PCCP, the real estate finance and investment management firm, to construct the facilities on a 37-acre site on Industrial Road in Alpha. Plans call for two single-side-load buildings, one measuring 270,900 square feet and the other 305,000 square feet, with each offering 36-foot clear ceilings heights, wide column spacing, ESFR sprinklers, deep truck courts, ample car parking and extensive trailer stalls and storage.

Cushman & Wakefield’s John Alascio, TJ Sullivan and Chuck Kohaut arranged construction financing for what’s known as The Cubes at Alpha, which CRG expects to complete in the third quarter of 2025

“We believe this project represents our commitment to delivering top-tier industrial facilities that meet the evolving needs of today’s logistics and manufacturing users,” said Frank Petkunas, executive vice president and partner for the CRG’s Northeast region. “With its strategic location, modern design and access to major transportation networks, we believe The Cubes at Alpha is poised to become a premier destination for businesses looking to expand their footprint in the Northeast.”

The developer said it will look to attract users in sectors such as ecommerce, distribution, third-party logistics and manufacturing, seeking to capitalize on the site’s immediate access to I-78. It noted that the Phillipsburg region has recently attracted national tenants and institutional owners, offering a lower-cost alternative that’s still close to the Port of New York and New Jersey.

The team also called it a compelling value proposition compared to central New Jersey, making it an ideal location for companies seeking cost-effective solutions without sacrificing accessibility.

“Along with our experienced partner, CRG, we are excited to develop Class A product within an institutional, core pocket of New Jersey,” said Lia Barsanti, a vice president with PCCP. “We believe The Cubes at Alpha is well positioned to attract port-focused users currently seeking industrial space between the Lehigh Valley and central New Jersey markets.”

CRG’s parent company, Clayco, will serve as the design-builder for the project, while integrated partner Lamar Johnson Collaborative is the architect, according to a news release. Including The Cubes at Alpha, the firm has planned, broken ground on or completed more than 53 million square feet of industrial projects across the United States.

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Joshua Burd, an award-winning reporter and editor, has been covering New Jersey commercial real estate for 13 years. Many industry leaders view him as the go-to real estate reporter in the state, a role he is eager to continue as the editor of Real Estate NJ. He is a lifelong New Jersey resident who has spent a decade covering the great Garden State.