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CenterPoint REIT Teams With Ford on Massive $400-Mil Southeast Side Industrial Development

CHICAGO-CenterPoint REIT is optimistic that it will join with Ford Land in building a supplier park for Torrence Avenue car plant. The state and city agree to more than $90 million in subsidies for the project.

By Ted Jackson | Updated on September 11, 2000

CHICAGO-Ford Motor Company has unveiled plans to open North America’s first automotive supplier manufacturing campus adjacent to the auto giant’s Torrence Avenue. manufacturing plant. The supplier park is expected to be developed in partnership with Chicago’s largest industrial developer, CenterPoint Properties Trust.

The park represents the latest evolution in industrial development for the automotive industry, says Jim Padilla, VP global manufacturing at Ford. “This project [will]…address competing trends toward globalization and local demands for more flexibility to meet customer needs.” Locating suppliers right next to the Torrance Avenue plant will increase the operation’s efficiency, he said.

“We are highly optimistic that our negotiations with Ford Land will be successful,” says Ronda Mork, VP external affairs at CenterPoint Properties, which is also in the midst of a $1-billion redevelopment of the Joliet Arsenal site southwest of Chicago. “We are in the process of finalizing lease agreements with Ford suppliers and with the City of Chicago on TIF financing.”

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