Based in Oak Brook, IL, CenterPoint Properties owns a far-flung portfolio of real estate used for
intermodal freight transportation. Its properties are located in port-centric and logistically strategic
markets in the US, with the goal of supporting business and government supply chains. The portfolio
is routinely expanded—for example in July the company picked up a 32,235-square foot warehouse
in Pompano Beach, FL—with the focus on coastal and inland port markets along North America’s
freight lanes. Indeed, when the Pompano Beach facility was acquired SVP PJ Charlton noted that
“Our East Coast portfolio now includes more than 14. 4 million square feet in port related markets.”
All together, CenterPoint’s portfolio includes 58.9 million square feet and 2,386 acres under development in the company’s integrated intermodal industrial parks.
CenterPoint is headed by Bob Chapman, who joined the firm in 2013. Prior to that Chapman was
chief operating pfficer at Duke Realty Corp. Preceding his tenure at Duke, he was with RREEF Funds
in Chicago, Hines Interests in Houston and Lincoln Property Co. in San Francisco.
CenterPoint launched in 1984 as Capital and Regional Properties Corp., the US investment vehicle for
Capital and Regional plc, a property company traded on the London Stock Exchange. In 1993, after it
acquired the Chicago-based FCLS Investors Group, it become a public company with a US initial public
offering. After 12 years as a public industrial real estate company, in March 2006 CenterPoint was acquired by CalEast Global Logistics--an investor in logistics warehouses and related real estate owned by California Public Employees Retirement System and GI Partners.
While the company has built much of its empire via acquisition, it has also developed some notable properties as well. For
example, it has built the CenterPoint Intermodal Center, a $1.2-billion, 3,600-acre facility in Elwood, IL, that opened in 2010—
and that is considered to be the largest inland port in North America.
It also developed in partnership with the Kansas City Southern Railroad the CenterPoint-KCS Intermodal Center at the former
Richards-Gebaur Air Force Base. It is a 370-acre intermodal facility and 970-acre industrial park.
The company is not afraid to make speculative bets on its developments either—and finds they usually pay off. Earlier this
year, for instance, CenterPoint announced that a recently completed 751,622-square foot speculative facility located in the
CenterPoint Intermodal Center-Joliet/Elwood became fully leased to a home improvement retailer and a global engineering,
repair and logistics company. “These leases solidify our ongoing zero percent vacancy in CIC-Joliet/Elwood,” senior vice president Brian McKiernan said at the time.
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