CHARLOTTE, NC – (June 1, 2022) – Crescent Communities, a nationally-recognized, market-leading real estate investor and developer, today announces the start of construction on two new industrial investments, AXIAL Crosspoint in Greenville, SC and AXIAL 301 Manatee in Bradenton, FL. Both properties will launch under Crescent Communities’ new and rapidly growing industrial platform, AXIAL, and are slated for completion in 2023.
AXIAL Crosspoint will offer three rear-load buildings totaling 552,300 square feet with expansive employee and trailer parking space, and flexibility to accommodate multiple tenants. The configuration is ideal for both local and regional distribution-focused tenants as well as light manufacturing and assembly users. Located near BMW, Michelin, Bosch, and more, AXIAL Crosspoint is strategically positioned at the interchange of I-85 and I-185 in the largest MSA in South Carolina. The site’s interstate frontage will allow its backlit signage to be visible from the roadway day and night.
AXIAL 301 Manatee
With over 21 acres and two buildings totaling approximately 295,000 square feet, AXIAL 301 Manatee is strategically located along the I-75/Highway 301 Corridor in Bradenton, FL. With rear-load capacity, a shared truck court and tilt-wall concrete construction, each building is designed to boast multiple storefront entrances and is made to accommodate up to four tenants. The 301 Manatee site will also deliver a road that will connect 24th & 44thAvenues in Bradenton, allowing better access for the entire county.
“Following the launch earlier this year of AXIAL, our new industrial umbrella, we are eager to bring these two new investments to market as we continue to expand our industrial footprint into new territories,” said Bryan Blythe, Managing Director of AXIAL Industrial at Crescent Communities’ Commercial business unit. “With decades of industrial development experience, our team at Crescent Communities’ AXIAL division looks forward to bringing unmatched industrial offerings to the Greenville-Spartanburg and Tampa/Bradenton areas through these high-quality, state-of-the-art logistics facilities.”
Furthering AXIAL’s growth in new and prospective markets, AXIAL Crosspoint and AXIAL 301 Manatee are each positioned as infill developments, located near key population areas. Both infill developments can serve as last mile locations, providing tenants with the ability to deliver items in a one-to-two-hour window to nearby residences.
AXIAL Crosspoint will be located at 101 – 301 Piedmont Grove Park, Greenville, SC. Partners include MCA Architecture (architect), SeamonWhiteside (civil engineer), Harper Corporation (contractor), CBRE (leasing), AEW Capital Management (equity), and Santendar (lender).
AXIAL 301 Manatee will be located on 44th Ave East near the intersection of Highway 301 in Bradenton, FL. Partners include Horton, Harley & Carter, Inc. (architect), Bowman and Rampart Consulting Group (civil engineers), Itasca Construction (contractor), Newmark (leasing), Native Development Group + Clover Investment Properties (development partners), and BMO Harris Bank (lender).
Crescent Communities’ AXIAL Industrial leadership team has experience encompassing over $660 million in completed projects combined. Today, its industrial portfolio totals $645 million and over 12 million square feet of completed, under construction, or planned projects. In addition to AXIAL 301 Manatee and AXIAL Crosspoint, Crescent Communities’ Industrial projects currently under construction or operating include Lakemont Logistics Center (Fort Mill, SC), Stateline Logistics Center (Fort Mill, SC), and AXIAL Bonds Farm (Concord, NC).
Additional details surrounding both projects will be announced at a later date. Renderings for AXIAL Crosspoint can be found here and for AXIAL Manatee 301 here. For more information on each project, please visit its website:
About Crescent Communities:
Crescent Communities is a nationally recognized, market-leading real estate investor, developer and operator of mixed-use communities. We create high-quality, differentiated multifamily and commercial communities in many of the fastest growing markets in the United States. Since 1963, our development portfolio has included more than 77 multifamily communities, 24 million square feet of commercial space and 60 single family master-planned communities. Crescent Communities has offices in Charlotte, DC, Atlanta, Orlando, Nashville, Dallas, Denver, Phoenix and Salt Lake City. Our residential communities are branded NOVEL, RENDER and HARMON by Crescent Communities and our industrial developments are branded AXIAL by Crescent Communities.
About AEW Capital Management:
Founded in 1981, AEW Capital Management, L.P. (AEW) provides real estate investment management services to investors worldwide. One of the world’s leading real estate investment advisors, AEW and its affiliates manage approximately $93.0 billion of property and securities in North America, Europe and Asia (as of December 31, 2021). Grounded in research and experienced in the complexities of the real estate and capital markets, AEW actively manages portfolios in both the public and private property markets and across the risk/return spectrum. AEW and its affiliates have offices in Boston, Los Angeles, London, Paris, Düsseldorf, Hong Kong, Seoul, Singapore, Sydney and Tokyo, as well as additional offices in seven European cities. For more information please visit www.aew.com.
Gross asset value as of December 31, 2021. Total AEW AUM of $93.0 billion includes $42.6 billion in assets managed by AEW Europe SA and its affiliates and $278 million in advisory/subadvisory, wrap and other accounts for which AEW Capital Management provides only a model portfolio.
About CBRE Group, Inc.:
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2021 revenue). The company has more than 105,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.