Project Repeat, a massive facility potentially occupied by a national retail giant is under construction at a piece of land recently acquired by The Cubes at Morgan Road LLC. The Cubes at Morgan Road LLC, an affiliate of Chicago-based developer Clayco purchased the 96-acre piece of land at the intersection of Alabama 150 and Morgan Road.
Although details about the deal are scanty, documents at Jefferson County public records show the land was bought for more than $4 million. It is the latest major real estate deal by U.S. Steel, which has been selling off large pieces of land to both commercial and residential developers.
Sources also indicate that the potential tenant of the distribution facility is being represented in the negotiations by real estate services company Jones Lang LaSalle. None of the parties involved in the talks has issued any comment. Construction is currently ongoing for a 1.2 million-square-foot distribution center at the Morgan Road site.
Features of Project Repeat
The development will include storage and parking space, access drives, and other supporting infrastructure. According to available records, CS Beatty Construction Inc. is involved in the construction of the project.
On September 15, the Bessemer Planning and Zoning Committee approved a resurvey plat request for two parcels of land located at 101 Morgan Road. The committee also approved the project’s plan.
Initial reports indicate that the potential tenant for Project Repeat is Lowe’s. The national retail giant is investing $1.7 billion to revamp and expand its supply chain. In 2018, the company launched an initiative to expand its supply chain infrastructure. Lowe is yet to confirm any plans of using the new site with a spokesperson saying, “We are always evaluating possible locations, but we don’t have anything to share at this time.” CRG, a subsidiary, and real estate arm of Clayco develop and owns several other industrial facilities known as “The Cubes”.